Prospective home buyers in Bend can apply for Neighborhood Stabilization Program funding, which can be applied to the purchase of a foreclosure or short sale property. Current funding is limited to purchases in the city of Bend.
The purpose of this government stimulus is to maintain home ownership rates in our communities and promote affordable housing. Up to $35,000 is available for qualified applicants:
· Applicant’s income must be within 120% of the area medium income (AMI).
· Purchase property must be owner occupied (not for investment, rental, or second home).
· See website for map where purchase could qualify for funding.
· No interest deferred loan, to be paid upon title transfer.
Through NSP funding, the City’s Affordable Housing Program has helped over 100 home buyers in Central Oregon purchase an affordable home.