Home Ownership for Median Income Earners (The HOME Fund)

Potential Homebuyers

The HOME Fund program aims to provide affordable housing opportunities for homebuyers employed in Deschutes County earning above 80% and below 120% of the area median income.

Program Eligibility Criteria

  1. Location: Homebuyer must be employed in Deschutes County or have received an offer for employment from a Deschutes County employer.
  2. Income: Earn above 80% and less than 120% of area median income. See area median income chart.
  3. Property:
    • Remain the homebuyer’s primary residence for entirety of ownership.
    • The home developer must have applied and been approved for the HOME program. If you are a developer and interested in this program, please visit the developer webpage.
    • Deed Restrictions: Remain on the home for at least 20 years, prior to applying for the program thoroughly review the deed restrictions here. *Please note there may be additional and or different restrictions outlined by the developer.

How to Apply

  1. Complete Homebuyer Education through NeighborImpact, the course certificate is valid for one year from completion and is strongly encouraged prior to the start of your home search.
  2. Program Eligibility Verification must be completed through NeighborImpact prior to closing. Cost $400. Certification of eligibility valid for 6 months.

Steps to Complete the Program Eligibility Verification

  1. Complete the NeighborImpact HomeSource Intake
  2. Submit non-refundable payment of $400
  3. Upload the required documentation below using this secure portal
    1. Completed Income/Asset Questionnaire
    2. Paystubs/income sources (3months)
    3. Benefit Letters (Social Security, Disability, etc.)
    4. Child Support/Alimony documentation (if applicable)
    5. Cash income Letter/Email of explanation (if declared or determined)
    6. Self Employed – 6 months P&L and Most recent Tax Return with Schedule C
    7. Bank statements – all bank statements (checking, savings, investment/crypto, CDs, etc.) – 1 months, only adults
    8. Additional documents may be requested
  4. Meet with housing counselor to review documentation and income verification results
  5. 2nd verification review conducted by an additional person for oversight and quality control
  6. Program eligibility results provided to homebuyer

This program has been made possible through funding from Deschutes County. 

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