There are a few different programs that can help you get into a home!
Down Payment Assistance Programs – Various programs offer anywhere from $2000 – $10,500 in grants or “silent second” loans (zero interest and no payments until you sell the home) to help you with a down payment. Funding and availability vary, but our Asset Building specialists will have the most up to date information for you.
Eugene Has the HAP Program:
Homebuyer assistance Program Description:
Eugene’s Homebuyer assistance program HAP is available to low-income residents that need financing assistance to purchase a home in Eugene Oregon. The City of Eugene mortgage assistance program offers up to $10,000 to help with the down payment and other costs related to financing a home in Eugene, OR . We can help determine if there are any minimum contribution requirements that might apply.
Eugene mortgage assistance HAP loans are interest-free and no payments are made until the borrower sells or no longer occupies the home. Eugene mortgage assistance HAP loans are funded from a grant from the Department of Housing & Urban Development (HUD) and are reserved on a “first come, first served” basis.
Home Requirements to qualify for Eugene mortgage assistance programs
The house must be within the Eugene city limits. The house must be buyer’s principal residence. The sales price and value of the house, after any needed or required repairs, must not exceed $260,839. At the time the house is listed for sale, it must be vacant or occupied by either the seller or buyer (as a renter). The home must meet the minimum “Housing Quality Standards” (determined by HUD).
A condominium, Townhouse or manufactured home may qualify for HAP assistance; Call Us or Apply Online for more information.
Springfield Has the Shop Program:
Springfield Home Ownership Program. The Springfield Home Ownership Program (SHOP) was created to encourage home ownership in Springfield by assisting Low-Income residents with the first-time purchase of a home. The City can loan up to $7,000 toward the down payment and related costs of buying a qualified home in Springfield. The loan is interest-free and repayment is generally not required until the home is sold, refinanced, or transferred. The buyer must contribute at least 50 percent of the minimum down payment required by the primary lender. To find out how to apply Click Here