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Down Payment Assistance in the City of Portland - Detail verified 08/20/10 - Last updated 07/10/2009

Program Overview

Down Payment Assistance in the City of Portland - Detail verified 08/20/10 - Last updated 07/10/2009 is a program that the City of Portland and Hacienda CDC are working on together which provides affordable homeownership opportunities to first-time homebuyers. Selected participants will be required to attend home buyer education classes, and work with a bilingual coach (if needed) throughout the buying process. Families are eligible to receive down payment assistance loans, training in mortgage-readiness and financial fitness training. This program is available in the City of Portland only.

Who is eligible for this program?

Qualified participants are required to attend home buyer education classes, and work with a bilingual coach (if needed) throughout the buying process. Qualified program participants live at or below 80% Median Family Income for the area. Funds received are used for closing and down payment assistance. HUD Median Income Limits: 80% Is this program for first time buyers only? Yes

Property Eligibility Requirements

City of Portland only. Allowable property types: Single family home or condo located in City of Portland, Property must be owner occupied and primary residence. The maximum home price cannot exceed the appraised value of home/condo selected.

Benefit Details

Qualified families are eligible to receive down payment assistance loans, training in mortgage-readiness and financial fitness training. $2,000 Benefit: The purpose of this program is to promote homeownership opportunities for first-time homebuyers in Portland. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes

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