How to QUALIFY
Empowering Communities Through Home Ownership
Reviewing the Townhome Qualification Process
01
Income Qualification
Your total household income must not exceed 120% of the Area Median Income (AMI) for the Greater Portland Metropolitan Statistical Area (MSA), as set by HUD.
02
Owner-Occupancy Rule
All purchased townhomes must be owner-occupied for the duration of the required deed restriction period. Rentals are not permitted while the restriction is in place, promoting neighborhood stability.
03
Pricing Tiers & Requirements:
+ Units priced at $378,000 have a 15-year owner-occupancy deed restriction.
+ Units priced at $425,000 have a shorter, 5-year owner-occupancy deed restriction.
04
Equity-Building Model
+ Resale within 5 years [or 15 years] must be to a 120% AMI qualified buyer.
+ After the 5 years [or 15 years] buyers can sell the home on the open market at market value.
05
Flexible Financing
Affordable financing options are available through selected partners, often featuring:
+ Down payments as low as 3% for qualified buyers with the potential for the elimination of Private Mortgage Insurance (PMI).
06
Next Steps
The first step is to confirm eligibility. Anne Hyland is the central point of contact for confidential, personalized guidance and to manage communication regarding specific financing options.
Contact Anne Hyland
For questions about availability, financing options, or buyer eligibility, please reach out to Anne directly.