(at the request of Network for Oregon Affordable Housing)
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Bill Title:
Relating to a grant program to support accelerated mortgages for first-time home buyers; declaring an emergency.
Catchline/Summary:
Directs the Housing and Community Services Department to give a grant to an organization to support first-time home buyers that purchase residential property to build equity ownership in the residential property through reduced interest rate loans and accelerated loan terms. Digest: Tells a state agency to give money to people who support home buyers to build equity in their homes more quickly. (Flesch Readability Score: 64.6).
Directs the Housing and Community Services Department to give a grant to an organization to support first-time home buyers that purchase residential property to build equity ownership in the residential property through reduced interest rate loans and accelerated loan terms. Specifies qualifications for loan recipients.
Declares an emergency, effective July 1, 2025.
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HB 3235 Joint Committee On Ways and Means
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