Hey!
- Have you ever thought about buying a home but didn’t know where to begin?
- Have you ever wondered what resources were out there for first time home buyers in Portland?
- Has down payment, closing costs or other financial components kept you from achieving your goal of home ownership?
Well, have you heard the news?! The City Of Portland (Portland Housing Bureau) is helping first time home buyers with down payment assistance loans.
Down Payment Assistance Loans, also known as DPAL, award amounts can be up to $80,000 – $100,000 and include the opportunity for total loan forgiveness. That’s right, the city of Portland is helping qualified first time home buyers with financial opportunities to make home ownership a realty.
Want to find out if you qualify? Contact a home buying counselor at a partnering organization listed below:
In addition, PHB also partners with the following agencies to provide homebuyer counseling, education, and homeownership assistance:
This is a unique opportunity that I have personal experience with as a home buyer and a realtor. Please reach out to me directly for details on my personal experience with the down payment assistance programs.
I specialize in all first time home buyers!
❤️ Jessica_TheHomeGirl
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.