To qualify for reduced cost homeownership the applicant’s new home must be within city limits, household income may not exceed income limits, and funding must be available; there may be overreaching restrictions that prevent CDBG funds from being used at a particular address. The property must be and remain owner occupied. While the cost of homeownership is significantly reduced the buyer(s) must qualify for a traditional home mortgage.
The City of Beaverton has partnered with the Portland Housing Center to offer down payment assistance for low income, first time home buyers! Eligibility it determined based on household income and size. Assistance is $25,000 per home.