$59,000 SE Portland Down-Payment Grant

$59,000 SE Portland Down-Payment Grant

Reserved

flyer_Lents_BI_16-17

Do I qualify for this grant?

  • Grant recipients must be first-time homebuyers & income-qualified (income limits are below).
  • The home must be located in the Lents Town Center Urban Renewal Area in SE Portland (map available at: www.proudground.org/media/uploads/LentsURABoundaryMap.pdf) and be a newer home (1978+).
  • You need to qualify for a mortgage with a Proud Ground approved lender. You have to document that you can contribute a MINIMUM of $200,000 (home loan + your own down payment).
  • Grant funds will help you purchase a home priced up to $275,000.
  • Any cash assets over $10,000 must be used towards your purchase.
  • The home must pass a series of inspections designed to ensure that you purchase a safe & healthy home.
  • As with all of our homes, you need to complete an approved home buying education workshop.
  • Owner-occupancy, asset limits, resale, and other restrictions apply.

 

Maximum income limits for the SE Portland Buyer Initiated Grant:

 

Family Size:               1                 2                 3                4                5

Max Income:       $41,100    $46,950       $52,800    $58,650       $63,350

Interested in this grant?

To be eligible for a grant you need to provide the following to Proud Ground by Friday February 24th, 5pm:

  • Submit a COMPLETE application packet in one email to submit@proudground.org, please input “Lents Grant” in the subject line
  • A complete application packet must include:
  • Proud Ground Home Buying Opportunity Application
  • 3 months’ worth of recent paystubs for all income earners in the household
  • A loan pre-qualification letter for a minimum of $200,000 from a Proud Ground approved lender.
  • A closing cost estimate from your lender showing your estimated monthly payments. ******Please note that it can take up to two weeks to obtain loan pre-qualification so start the loan application process as soon as possible.*****

 

On Monday February 27th Proud Ground will notify the top income-qualified, pre-qualified home buyer. The buyer will be given a 45 day grant reservation. Priority will be given to families with children based upon your date of application with Proud Ground.

Questions? Please contact Tyler Koski at 503-493-0293 x11 or tyler@proudground.org

Preguntas? llamar Yesika Arevalo al: 503-493-0293 x10 ó  por correo electrónico: yesika@proudground.org

Address:Lents/ SE Portland
City:Portland
State:OR
Year Built:1978 or newer

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