Program: NCRA Housing Rehabilitation and Homebuyer Assistance Program

Detail Verified 1/30/2020 - Last Updated 07/13/2018

Program Overview

The NCRA Housing Rehabilitation and Homebuyer Assistance Program is available to current homeowners and first-time buyers in the North Clackamas Rehabilitation Area. The program provides low to moderate income homeowners and first-time homebuyers with loans and grants to assist with home repairs and purchases.

Who is Eligible for this Program?

Eligible applicants must be current homeowners in the North Clackamas Rehabilitation Area (NCRA) or first-time buyers. Applicants must meet income limits. Preferences are given to current NCRA residents, law enforcement personnel, and current or former members of the military.

Qualified first-time buyers must have sufficient income to qualify for and support the primary debt, be pre-qualified by a primary lender (contract sales are not allowed), have good credit and able to contribute $1,000 in cash toward the purchase from their own funds.

Up to $14,000 for repairs, rehabilitation, down payment or closing cost. Can be combined with Clackamas Homebuyer Assistance Program and other down payment assistance programs, products and gifts.

HUD Median Income Limits: 120%

Is this program for first time buyers only?: No

Property Eligibility Requirements

The sales price cannot exceed $335,000.

Allowable property types: Single family housing that meets property standards and passes inspection.

Benefit Details

Benefit: Provides up to $14,000 to assist current residents of the NCRA with repairs and rehabilitation of a home and helps qualified first-time homebuyers to pay for down payment and reasonable closing costs with zero-percent interest deferred-payment loans.

Homebuyer Counseling / Education Required: Yes

Owner Occupancy Required: Yes

Other Program Comments: Forgivable after 10 years if home remains owner-occupied.