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 | $39,150 | $44,750 | $50,350 | $55,900 | $60,400 | $64,850 |
150% AMI | $73,410 | $83,910 | $94,410 | $104,850 | $113,250 | $121,605 |
***Rates and Availability are Subject to Change***
