Local affordable housing developer RootedHomes expands down payment help for veterans, offers up to $60,000
KTVZ – News Team
(Update: Adding video)
BEND, Ore. (KTVZ) — RootedHomes, a nonprofit developer of affordable housing in Central Oregon, announced Tuesday a significant expansion of its down payment assistance program for veterans.
The program expansion was made possible by a $540,000 grant awarded to the organization for this purpose.
Here’s the rest of RootedHomes’ announcement:
The enhanced program now offers qualified veterans up to $60,000 in assistance, a substantial increase designed to help them achieve the dream of homeownership. This funding is available for any of RootedHomes’ communities. There are currently 70 homes available in various stages of development.
The updated down payment assistance amounts are as follows: veterans are eligible for up to $60,000 or 20% of the purchase price, whichever is less. First-time homebuyers can receive up to $30,000 or 20% of the purchase price, whichever is less. First-generation homebuyers are eligible for up to $60,000 or 20% of the purchase price, whichever is less.
To qualify for the veteran assistance funds, applicants must provide a DD-214 form or proof of veteran’s benefits and sign a release form.
Eliza Wilson, the executive director of RootedHomes, expressed her excitement about the new program:
“We are incredibly proud and grateful to be able to provide this expanded funding to our veterans. It is our way of recognizing their sacrifice and commitment to our country. We know that a significant down payment is a major barrier to homeownership for many, and we are grateful for this opportunity to help more Central Oregon veterans realize their dream of owning a home.”
Interested veterans and other homebuyers can start the process by first talking to one of RootedHomes’ approved lenders. The next step is to attend a free information session, which RootedHomes offers monthly to provide a complete overview of the programs and the home-buying process. There are two information sessions in September, on the 9th in Spanish and the 11th in English. Both begin at 5:30 pm and are offered through Zoom online.
For more information on RootedHomes, visit https://rootedhomes.org.
RootedHomes, formerly Kôr Community Land Trust, is a Central Oregon nonprofit dedicated to creating sustainable, affordable homeownership opportunities for the local workforce. By utilizing the Community Land Trust model, RootedHomes ensures long-term affordability and access to healthy homes for generations. This innovative approach allows RootedHomes to steward the land, keeping housing costs down. Prioritizing equitable access to energy-efficient homes and their associated health and financial benefits by developing to net-zero energy standards is a priority of the organization. RootedHomes is committed to empowering homebuyers who have historically faced barriers to building wealth through homeownership. Through sustainable practices and community-centered development, RootedHomes is making a tangible difference in the lives of Central Oregon residents. Learn more at rootedhomes.org.