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11-12-2013

 

The City of Portland in conjunction with the Wells Fargo Foundation has announced the Neighborhood Lift Program which will grant $15,000.00 to each buyer in downpayment assistance starting Dec. 13th 2013. Please read additional qualification info below and contact us to help you expedite the process and gaurantee you a reservation for the assistance

NeighborhoodLIFT Program Information

• Provides eligible homebuyers with $15,000 in down payment assistance on qualified properties

• Provides homebuyer education that can prepare you for finding and financing a home and for managing the financial responsibilities of homeownership

• Assistance is not limited to first-time buyers

• Annual income of all persons 18 and older living in the home must be at or below 120% of the Portland Area Median Income (AMI) guidelines (FHA financing, a popular option for NeighborhoodLIFT financing, is limited to 115% of AMI. Other loan programs may have more restrictive income limits). More info below.

• Properties qualified for the program must be:

1. Located within the city limits of Portland
2. The primary, owner-occupied home of the buyer(s)
3. A detached home, townhouse, condominium, 1-4 unit property, Planned Unit Development

Wells Fargo Program Info

Income Limits Neighborhood Lift Portland

 

Click Here for List of Homes that Qualify for Program

 

Documents to prepare for eligbility:

• Gross income amount for ALL members of the family age 18 and older: primary, second and part-time jobs, as well as overtime, bonuses, and commissions

• 60 days’ pay stubs with year-to-date information for all jobs and for each member of the household age 18 and older

• Proof of any and all other income received by each household member, such as Social Security Award letter, retirement and/or pension income, unemployment income, death or disability payments, divorce/court decree for alimony and/or child support, etc.

• Federal tax returns for the past two years (1040’s)

• W-2s for the past two years

• Recent two (2) months of personal bank statements; self-employed applicants should also bring recent two (2) months of business bank statements

• Current Profit and Loss Statement for self-employed individuals

• Proof of full time student status, for individuals age 18 and older who receive income but also attend school full time (statement from school/institution with dates of attendance or specific reference to upcoming school term, and confirmation of full time status)

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