- Maximum NSP investment per home buyer will be $50,000 or the difference between the total cost (acquisition and modest rehabilitation) and amount of mortgage eligible buyers can obtain (which ever is less). This means down payment assistance, folks!
- Funds will be in the form of a "soft second" loan, bearing no interest with payments deferred until the homeowner refinances or transfers title.
- A share of the appreciation will be due at transfer of title, and may potentially be waived if OHCS grants an exception.
- Income limits for Medford Area $18,200-83,800 depending on family size (2008).
- Work to be done by a licensed contractor, and cannot be done by the homeowner. Work will be paid for upon close of escrow.
Sound like something that might be a solution to your becoming a homeowner? Call for more details, or go online and apply to be preapproved for your home loan today at http://www.quality4loans.com/.
See you at the closing table!
Karen Cooper - OR/CA Mortgage Consultant - http://www.quality4loans.com/
American Pacific Mortgage, 301 B Crater Lake Avenue, Medford OR 97504 OR License ML-2338; 3000 Lava Ridge Court #200, Roseville, CA 95661 CA DRE Broker License 01180222