Blog Buyer First Time Buyer gets America's Home Grant

First Time Buyer gets America’s Home Grant

By Robin Hakeman, September 12, 2020

First time buyer gets America’s Home Grant!

It’s not everyday that a first time home buyer can become a home owner thanks to a grant program. However, that is exactly how my client joined the real estate market. She was fortunate to qualify for the America’s Home Grant through Bank of America, which offers closing cost assistance of $7,500. The credit can be used towards non-recurring closing costs, (think title insurance and recording fees), and to buy down the interest rate on the loan. My buyer closed on her home this week with $0.00 in closing costs and a 30 year, fixed-rate mortgage at 2.75%!! The icing on the cake? The funds she received do not need to be repaid to the bank!

One caveat of the program is that the subject property must be in a low to moderate income tract. Each home is run through the bank’s system to check the income tract. Some qualify and some do not, meaning you are limited to certain areas of Portland. The competition for these homes can be fierce. After making an offer on a property that received 10+ offers within 1 day, my client was discouraged.

Thankfully, this summer turned out to be the height of the selling season and homes were coming on the market left and right. A home on the outskirts of Montavilla came on the market and it was perfect for her. It met the Bank’s requirements so we went to see it. The house has 2 bedrooms and 1 bathroom, a lovely living room & updated kitchen. There is a back deck and a small yard. The attached garage is perfect for her car and storage. Thanks to America’s Home Grant, my client was able to beat out the other offers and offer over the asking price. This could not have happened without the closing cost assistance she was given.

As an agent, it is important to know the options for your clients so they are able to get into a home. This is a single woman, on her own becoming a HOME OWNER!!! I am so proud to have helped her through this process. If you or someone you know would like to learn more about how to become a home owner, contact me today! Congratulations to my awesome client – she now owns her own special piece of Portland.

Robin Hakeman

Earth Advantage Broker

True job love!

One of the things Robin loves most about her work in real estate is that it never feels like "work" to her. After working as a merchandise manager for some top local apparel and home brands she found her way to real estate and will never look back. She is that rare combination of business smarts meets creativity and her skills are well suited for real estate. She has the analytical background necessary to help both buyers and sellers with numbers and negotiation, as well as the creative vision to help clients best prepare their homes for sale. As a native Oregonian, Robin has lived in NW Portland and NE Portland and the SW suburbs. She has worked in areas all over the city and has seen the changes to the area over the last 10+ years. When she's not at the office or out with clients, you can find her taking a barre3 class, hiking, enjoying family time, volunteering at a school and enjoying local theater arts. Robin is passionate about understanding the needs of each client and will work hard to help you realize your goals. She is dedicated to being a complete resource for you before, during and after your home purchase or sale. One of the aspects of this process that she values the most is the relationships she builds with her clients. Buying or selling a home can be stressful and Robin is here to work though it all with you.    
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  • T: 503-680-0404
  • robin@livingroomre.com

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