Need Assistance With a Down Payment?

Even in these tough times you have some great resources that can help you come up with a down payment, they are very different and which one is best depends on your circumstances:

· Clackamas County-This program is available to income qualified first time home buyers in Clackamas County. CHAP provides up to $14,000 in down payment and closing cost assistance to households earning up to 80% of the median area income, adjusted for household size. The assistance is structured as a zero interest second mortgage. No payments are due until the home is sold, transferred or refinanced. At that time, the principal amount is payable to the county. Check out www.co.clackamas.or.us/cd/downpayment.htm

· PDC-Portland Development Commission, check out www.pdc.us for details

· Washington County ADDI-this is a community development program and details are available at www.co.washington.or.us/deptmts/comm_dev/addi.htm

· Oregon Bankers Association (HPAP) is funded by the Oregon Housing and Community Services, and assistance is available to income qualified first time home buyers throughout Oregon. $1500 for down payment and closing cost assistance, similar plan to CHAP.

· La Hacienda CDC is a Latino down payment assistant program, check it out at www.haciendacdc.org

· Asian Pacific assistance can be found at www.APICIA.org

· AARP for 50 and over is available, we have an office in our building, give us a call for a referral.

· PCD Housing Services will be offering funds again in spring under the PAL funding program.

Please call us any time for a referral to a great loan officer who is familiar with all these programs.