By Alyssa Isenstein Krueger, February 25, 2020
Molly and her son have been renting a below market rate home owned by a non-profit in NE Portland for years. With her rent about to rise, Molly made it her mission to buy a home to provide her and her son much needed stability. Through luck, timing and meeting the right qualifications, Molly qualified for a $90k down payment assistance loan through the Portland Housing Bureau. The loan is actually a silent second, which means there are no payments made on the loan, it accrues no interest and is forgivable after a certain number of years living in the home. Concurrently, Portland Housing Center’s LIFT program was unveiled and Molly was able to snatch up one of their $20k grants. With $110k in down payment assistance, Molly was able to buy a fabulously adorable new construction home on a quiet street in the heart of the Kenton neighborhood. The 2 bed 1.5 bath was built in what was an oversized yard of a house, and though only 800 sf, this home is a great example of how to use a small footprint to create a home that lives much larger than what you would expect with a home with less than 1/2 the square feet than your average new construction home. And with the smaller footprint, it kept the cost down and created an affordable option for home ownership in the thriving Kenton area. The transaction itself was smooth as butter with an awesome listing agent, Daniel Silvey with Knipe Realty, who also happened to own the home, a fabulous lender- Jennifer Leon at Umpqua, terrific escrow officer Mariah Yee with Ticor Title and lots of help and guidance of folks at both the Portland Housing Bureau and the Portland Housing Center.
Alyssa Isenstein Krueger
Broker | OR
She/Her
I am living the dream. Working as a real estate broker in my home town brings this native Portland gal joy beyond measure. Check Out My Reviews! I took the round-about-road towards this career...
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