Get Started Here:
Eligibility
To be eligible to buy a home through Proud Ground, you must:
Be a first-time homebuyer
This means you have not owned a home within the last three years.
Be a permanent resident of the USA, an American citizen, have a valid work visa or an ITIN number
Mortgage Ready Path
Ask yourself:
Is my credit score above 620?
Do I have between $3,000 - $6,000 in savings
Has my income been stable for at least 2 years?
Is my monthly income-to-debt ratio 10% or less
Click the link below to start your Homeownership Path
Pre-Purchase Counseling
Ask yourself:
Is my credit score below 620?
Is my savings below $3,000?
Do I have outstanding/high debt?
Have I had a bankruptcy in the past 3 years?
Click the link below to start your Pre-Purchase Counseling
Income Qualifications
Your total household income at the time of purchase (includes every income earner in the home) must be above $35,000 and below the maximum household income for the specific homebuying opportunity. Most of Proud Ground’s homebuying opportunities are for households at or below 80% of the Area Median Income for their county. These numbers are adjusted by the federal government.
Maximum income limits are listed to the right.
Many buyers come to Proud Ground not financially ready to qualify for a home loan. We have HUD certified counselors on staff to help set up a plan to become mortgage ready.
Income Limits
View the Income Limits for your county below. Please note that income limits are based on annual gross household income before taxes.
Clackamas, Clark, Multnomah, Washington County Income Limits
Number of people in your |
To qualify at 65% or below: |
To qualify at 80% or below: |
To qualify at 100% or below: |
|---|---|---|---|
| 1 | $51,350 | $63,150 | $80,080 |
| 2 | $58,695 | $72,200 | $91,520 |
| 3 | $66,040 | $81,200 | $102,960 |
| 4 | $73,320 | $90,200 | $114,400 |
| 5 | $79,235 | $97,450 | $123,552 |
| 6 | $85,085 | $104,650 | $132,704 |
| 7 | $90,935 | $111,850 | $141,856 |
| 8 | $51,350 | $119,100 | $151,008 |
Lincoln County Income Limits
Number of people in your
houesehold at the time you buy
To qualify at 80% or below:
To qualify at 120% or below:
1
$42,600
$63,840
2
$48,650
$72,960
3
$54,750
$82,080
4
$60,800
$91,200
5
$65,700
$98,496
6
$70,550
$105,792
7
$75,400
$113,088
8
$80,300
$120,384
Number of people in your |
To qualify at 80% or below: |
To qualify at 120% or below: |
|---|---|---|
| 1 | $42,600 | $63,840 |
| 2 | $48,650 | $72,960 |
| 3 | $54,750 | $82,080 |
| 4 | $60,800 | $91,200 |
| 5 | $65,700 | $98,496 |
| 6 | $70,550 | $105,792 |
| 7 | $75,400 | $113,088 |
| 8 | $80,300 | $120,384 |
Jackson County Income Limits
Number of people in your
houesehold at the time you buy
To qualify at 80% or below:
1
$45,300
2
$51,800
3
$58,250
4
$64,700
5
$69,900
6
$75,100
7
$80,250
8
$85,450
Number of people in your |
To qualify at 80% or below: |
|---|---|
| 1 | $45,300 |
| 2 | $51,800 |
| 3 | $58,250 |
| 4 | $64,700 |
| 5 | $69,900 |
| 6 | $75,100 |
| 7 | $80,250 |
| 8 | $85,450 |
Our housing counselors can meet with you to discuss:
Credit
Monthly debt
Employment history
Savings
Proud Ground Preferred Lenders Require:
Good credit
In order to qualify for a mortgage, you will need a credit rating of 620 or above. Proud Ground counselors can pull your credit and help make a plan to improve it.
Manageable debt
At the time of home purchase, your total monthly payment should not exceed 10% of your gross monthly income (before taxes).
Debt includes:
Minimum credit card payment(s)
Child Support
Student Loans
Car Payments
Any other long-term obligation (a repayment plan over 6 months)
Steady employment in the same line of work
At the time of home purchase, you should have proof of steady employment/income for the past two years.
Adequate savings
At the time of home purchase, you must have $3,000 – $6,000 in savings. Please note that this is the minimum amount needed, but your lender and title company will charge additional loan closing costs, which are your responsibility, but can often be covered through matched savings programs, gifts, etc.
We encourage interested buyers to submit an application even if they do not think that they are qualified for our program. We are here to help make your dreams a reality!
Community
Land Trust
Proud Ground is the largest Community Land Trust in the Pacific Northwest. We’ve helped over 600 homeowners purchase affordable homes in Multnomah, Clackamas, Washington, Clark, and Lincoln County.
More questions?
You’ll have many of your questions answered once you attend an information session. But you can click here for our answers to the most common questions.
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