Minority Home Owner Assistance Programs Portland OR
Portland has a Down Payment Assistance Loan for minorities. It can be a bit of a process, but if you are dreaming of home ownership and need some assistance this may be the way to go. The Minority Housing Assistance Collaborative has been set up to identify if you qualify for the down payment assistance from the Portland Housing Bureau.
The Minority Housing Assistance Collaborative is made up of 4 organizations:
- The African American Alliance for Home Ownership
- Hacienda Community Development Corporation
- Native American Youth & Family Center
- Asian & Pacific Islander Community Improvement Association
The first step in seeing if you meet the criteria to qualify for the Down Payment Assistance Loan is to contact one of those agencies and tell them you want to start the qualification process for the Down Payment Assistance Loans. You will have to meet with a counselor and take a home buyer education class. You will also need to have the same financial qualification as someone getting a loan. Contact our Portland Home Program 101 specialist to help get you started.
Getting Selected for a Portland Home Owner Assistance Program
Once you have satisfied your requirements above (meeting with the counselor, the home buyer class & having a lender/Home Program 101 Specialist check your financials) the non profit you are working with announce the selected candidate that can move forward. . The counselors issue award letters to the home buyers, and forward a copy of the letter to Portland Housing Bureau. Note: the award is contingent upon the home buyer meeting all Portland Housing Bureau eligibility and underwriting standards.
Once you have received your award letter, your counselor should help fill out the application for the Down Payment Assistance Loan from the Portland Housing Bureau.
Home Program 101 can help you find a Realtor in our network that can help you write offers. Presenting the seller of a home with a strong offer is important, so utilizing a buyer’s agent proficient in the program helps get your offer in front of the seller with confidence.