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City Lender Programs

City Lender I

Maximum Purchase Price: $150,000
Downpayment: $1,000 Regardless of Purchase Price
Eligible Borrowers are Credit Worthy Buyers with a Gross Household Income Less than 80% AMI
Eligible Properties are Single Family Homes within the City of Columbia City Limits
Low Interest Rate
No Primary Mortgage Insurance (PMI)
Applicant Must Receive Credit Counseling and Homeownership Training Provided by the City
Applicants Cannot Own Any Other Improved Property at the Time of the Closing
Property Must be Owner-Occupied as Long as the City Holds the Mortgage

 

City Lender II

Maximum Purchase Loan: $250,000
Downpayment: $2,000 Regardless of Purchase Price
Eligible Borrowers are Credit Worthy Buyers with a Gross Household Income Less than 150% AMI
Eligible Properties are Single Family Homes within the City of Columbia City Limits
Low Interest Rate
No Primary Mortgage Insurance (PMI)
Applicant Must Receive Credit Counseling and Homeownership Training Provided by the City
Applicants Cannot Own Any Other Improved Property at the Time of the Closing
Property Must be Owner-Occupied as Long as the City Holds the Mortgage

 

 

# In Household

1

2

3

4

5

6

80% AMI

$35,950

$41,050

$46,200

$51,300

$55,450

$59,550

150% AMI

$67,407

$76,970

$86,625

$96,188

$103,970

$111,657

***Rates and Availability are Subject to Change***

 

 

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