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Purchasing your first home is typically the greatest budgetary interest in ... The home purchasing procedure is confused, and there are numerous vital decisions to be made ...
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PORTLAND HOUSING CENTER Welcome to HomeOwner Basics Orientation!

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WHY PARTNER WITH A TRUSTED RESOURCE… Buying your first home is generally the greatest monetary interest in your life The home purchasing procedure is convoluted, and there are numerous vital decisions to be made Getting into your first home is a major achievement – staying there is similarly as vital!

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PORTLAND HOUSING CENTE R We\'re here to offer assistance! More than 2,000 of our homebuyers got to be mortgage holders in the most recent 3 years! 160 families are at present putting something aside for up front installment on our coordinating project and will get $3 for each $1 they spare A normal of 65 new homebuyers register for our classes every month We direct individuals of all salaries through the home purchasing process

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THE PORTLAND HOUSING CENTER IS… A private, non-benefit partnership "One-stop" homeownership focus HUD-guaranteed lodging advising office Member of national homeownership system Oregon authorized non-benefit contract specialist

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OUR MISSION… Everyone merits access to homeownership We make it conceivable through quality EDUCATION, COUNSELING and FINANCIAL SERVICES

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Meet Rhonda… "Because of the IDA program, I have satisfied my fantasy of homeownership… I have figured out how to spare and the significance of reserve funds. PHC made a great showing with regards to furnishing me with the direction and devices important to make my fantasy turn into a reality… "

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Meet Amie… In 2005, Amie and her accomplice went to a PHC introduction. After two years their group of four obtained their first home in Parkrose…

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Meet Chi… "… Spent credit like money. Had zero investment funds nine months prior. As yet sparing with bigger cradle zone. Gotten the message out all around!"

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AM I READY TO BUY? Do you have… A month to month spending plan or spending arrangement? Relentless wage and work history? A sensible level of current obligation? A record of paying your bills on time? Some cash for up front installment? Not there yet? We\'re here to offer assistance!

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STEPS TO HOMEOWNERSHIP HomeBuyer Assessment Financial Fitness HomeBuying 101 HomeBuyer Counseling Matched Savings Program Down Payment Assistance Programs Loan Counseling Affordable, altered rate home advances Pre-Closing Meeting/Loan Document Review HomeOwner Classes

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WE ARE MULTI-LINGUAL All of our administrations are accessible in English and Spanish Todos nuestros servicios estan disponibles en Español We offer intermittent classes in Vietnamese, Chinese and Russian in collaboration with APICIA Let us know whether you have other dialect or get to needs

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FINANCIAL FITNESS A class to change the way you oversee cash Values & Money Goal Setting Money Management/Budgeting Using Credit Wisely Identity Theft Recognizing Predatory Loans

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HOME BUYING 101 Everything you have to think about the home purchasing process Preparing for Home Purchase Understanding the Role of Credit Shopping for Your Loan Shopping for Your Home Inspecting and Insuring Your Home Closing on Your Home

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PARTNERS YOU CAN TRUST… We cooperate with legitimate budgetary organizations, Realtors, and Oregon-confirmed home examiners We precisely screen and screen our accomplices They give great support of first time home purchasers For a rundown of our accomplices and their contact data, visit www.portlandhousingcenter.org.

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DOWN PAYMENT ASSISTANCE PROGRAMS We can help with initial installment, bring down your month to month contract installments, and increment you\'re obtaining power! Qualification depends on pay and different components Low financing costs, altered terms We likewise offer a coordinated funds program ML – 4654

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PHC MORTGAGE FINANCING OPTIONS Oregon Bond Loan (when accessible) ODVA (Oregon Department of Veteran Affairs) USDA Rural Loan Program Conventional settled financing alternatives FHA Loans Contact: Cara Cooke, Loan Consultant 503.282.7744 x108 ML - 4654

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MORTGAGE ASSISTANCE PROGRAM 2 nd Mortgage up to $50k Low initial installment ($500), brings down regularly scheduled installments through disposing of home loan protection Income qualification: 100% Median Family Income or under Low loan costs, altered terms Available in Multnomah and Washington Counties ML - 4654

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MAP COMPARISON FHA Insured Loan: Conv. Advance w/MAP 2 nd : Purchase Price: $200,000 Purchase Price: $200,000 Monthly Payment: $1,362 Monthly Payment: $1,388 Mortgage Insurance: $88.46 Mortgage Insurance: None Cash to Close: $8,760 Cash to Close: $534 *Both cases variable in $6,000 in dealer paid shutting costs. In the event that this is unrealistic, the extra expenses can be moved into the MAP credit. ML - 4654

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PHC IDA PROGRAM Matched reserve funds program – for each $1 you spare, we coordinate $3 Can help you pick up to $9,000 for home buy 80% of middle family salary to qualify How to begin… Complete IDA Application Complete Financial Fitness Meet with a HomeBuying Specialist

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OREGON BOND LOAN ( CURRENTLY SUSPENDED) Lower than business sector 30 year altered loan cost (this brings down your regularly scheduled installments or expands your buying power!) Income top: 1-2 man family unit $79,190 3 or more individual family $91,068 9 year recover period www.oregonbond.us

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RESOURCES HOST Development www.hostdevelopment.com Proud Ground www.proudground.org Portland Development Commission www.pdc.us ROSE CDC www.rosecdc.org Clackamas Community Land Trust www.clackamasclt.org Habitat for Humanity www.pdxhabitat.org

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WHERE DO I START? Round out Registration Form (please print unmistakably) or register on-line @ www.portlandhousingcenter.org Pay $65.00 materials expense (non-refundable, useful for a long time) If you are as of now working with a loan specialist and they have pulled your credit, please note at the highest point of the Registration structure "Don\'t Pull Credit" and give a duplicate of your acknowledge report for your enrollment.

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NEXT STEPS… We\'ll run your credit report and finish your evaluation You will be relegated a HomeBuying Specialist who will manage you through the homebuying procedure We will call and timetable you for the fitting class and your underlying arrangement *Due to a high volume of enlistments, it might take up to 3-5 business days to finish your Home Buyer Assessment. Our staff will get in touch with you when it is finished to get you planned for a class!

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