The Community Development Division (CDD) works with lenders to offer the Clackamas Homebuyer Assistance Program (CHAP). The CHAP program can loan up to $14,000 to help qualified first-time homebuyers pay for downpayment and reasonable closing costs. CHAP loans are zero-percent interest deferred-payment loans.
Prior to obtaining a CHAP loan the first-time homebuyer must:
Complete an approved homebuyer training class.
Click here for a list of homebuyer training class.
- Be approved for primary financing through an FHA-approved lender.
TIMELINES FROM THE SUBMISSION OF A COMPLETED LOAN APPLICATION PACKET:
- Allow a minimum of 30 days from submission to closing.
- Allow a minimum of 5 working days from submission to property inspection by this office.
To be an "Eligible Applicant", the homebuyer must:
- Meet the HUD definition of a “first-time homebuyer” which means the buyer has not owned a home during the past 3 years, or is a displaced homemaker, or is a single parent.
CHAP Income Limits
as of May 2010
Number in Household 80% of Median139,900245,600351,300456,950561,550666,100770,650875,200
- Demonstrate a financial need for CHAP assistance.
- Complete a homebuyer education program approved by the County.
To be a "Qualified Borrower", the homebuyer must:
- Have sufficient income to qualify for and support the primary debt.
- Be pre-qualified by a primary lender. (Contract sales are not allowed.)
- Have good credit.
- Contribute $1,000 in cash toward the purchase from the buyer’s own funds.
To be an "Eligible Property", the house must:
- Be located in Clackamas County.
- Have a purchase price less than $304,950.
- Meet the definition of affordable, standard single family housing (a single unit).
- Meet property standards and pass HQS inspection.
- Be free of chipped or peeling paint if the house was built before 1978.
- Not be occupied by a tenant unless the buyer is the tenant.