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There are several
ways to get help with your down payment.
Purchase Assistance Loan
(PAL) -
Up to $10,000 of down payment assistance. Zero interest and
deferred payments until sale, transfer of ownership or
refinance. Must be 80% of the median income or below. The home
must pass an HQS inspection in addition to lender required
inspections. For more information visit
www.oregonbond.us.
*The
PAL is currently out of funds.
Home Purchase Assistance Program (HPAP) - $1500 down payment
or closing cost assistance with zero interest and deferred
payments. Participating lenders must be members of the Oregon
Bankers Association.
*The
HPAP is currently out of funds |
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City of Drain and City of
Yoncalla Down Payment Assistance Loans- Up to 20% of the
purchase price up to $35,000 with 5% interest. There are
no monthly payments to be made and interest only accrues for the
first 10 years, and then freezes. This is a 30 year loan.
Must purchase within Drain and Yoncalla city limits.
Contact Mike
to see
if you qualify. |
Josh and his wife planned for
their purchase for almost 3 years. When the right time came,
they made a great choice. They got 100% financing and had
help with covering their closing costs from the Dream$avers
program. They were also able to put money directly towards
their principal. |
