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How To Get Started
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See what you can afford
In order to buy a HOST home, you need to be able to qualify through a bank, mortgage company or credit union for the purchase price of the home.
If you don't already have financing in place, we recommend that you talk to a few lenders now so that you can get an idea of what you can afford. You can pick someone from our Preferred Lenders list or you can work another lender of your choice. |
| 2. |
Call HOST to see what's available
Once you know your price range, call us at (503) 331-1752, so we can tell you about the homes we have available to fit your needs.
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| 3. |
Tour a HOST home
If we have a house available which fits your price range and needs, we can schedule a time to tour the house. If you are interested in one that is not complete but is under construction, you don't have to wait. We can write a Sale Agreement, tying up the home for you, before the home is completed. |
| 4. |
Sign up for a homebuyer education class
We recommend the classes at the Portland Housing Center, a nonprofit organization that provides homebuyer education and counseling. You can reach them at (503) 282-7744 or follow the link to their web site.
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Sign a Sales Agreement
When you find a house you want to buy, we can write up an offer called a Sales Agreement. It is a legally binding contract that states you agree to obtain a loan to buy the house. In most cases, you write a $500 earnest money check that is taken to a title company so that escrow can begin. The time to close a transaction, between signing a Sales Agreement and being handed the keys, is at least 30 days.
HOST adheres to the federal Fair Housing Act, which prohibits discrimination because of race, color, national origin, religion, sex, familial status or handicap. Therefore, we consider offers in the order they are received.
There are no income restrictions to buy a HOST home. |
Other Important Information
- If you are below 100% of the median family income (MFI) and you are a first-time home buyer as defined by HUD, then you could qualify for up to $5,000 in closing cost assistance. See the Portland Development Commission's website for the current MFI chart.
- Many of our homes qualify for a ten-year limited tax abatement. If you chose to purchase a qualifying home and you meet the buyer qualification requirements for the limited tax abatement, your property tax payments could be reduced by as much 2/3. However, due to changes in the program not all homes qualify, so please contact our office for more information.
- HOST homes come with a ten-year warranty, all kitchen appliances, window blinds and front yard landscaping.
- All HOST homes are Earth Advantage certified.
- HOST homebuyers can resell their home after 18 months.
- HOST requires all homebuyers to complete 50 hours per year of community service for the first five years that they own their home.
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