7865 SE Phillips Creek Ln
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About This Property
Welcome to this inviting 3 bedroom, 1.5 bath townhouse in Milwaukie’s established Phillips Creek Place community. This thoughtfully designed two-level home offers approximately 1,050 sq ft with a comfortable and functional layout. The main level features a welcoming living and dining area with hardwood floors, a well appointed kitchen, and convenient half bath. Upstairs, find three bedrooms, a full bath, and newer hardwood flooring throughout the second level. Enjoy the convenience of forced air gas heating and a private outdoor porch/patio area. Located just minutes from parks, schools, shopping, dining, and all that Milwaukie and southeast Portland have to offer. A great opportunity for comfortable, low maintenance homeownership in a desirable location!
Listed by Undra Adams, real estate broker licensed in OR with listing office Proud Ground.
More Information:
For more information about this property, contact Undra Adams, licensed broker in Oregon, at 503-493-0293 x106 or undra@proudground.org
Application Deadline - 12pm on Wed. SEP. 23rd
See the Steps to Get Started.
Open House! Saturday Sep. 12th 12pm-2pm
Property Details
Address:
7865 SE Phillips Creek Ln, Milwaukie
Year Built: 2004
Est. Sq. Ft.: 1,050
Estimated Monthly Payment: $1,524/mo*
Estimated monthly HOA/Condo fees: $160
Estimated Appraised Value: $335,000
Estimated Monthly Property Taxes: $183
Proud Ground Monthly Fee: $51.50
Estimated Recording Fees: $800
Max. front end/housing ratio: 38%
Max. back-end ratio: 45%
Minimum home buyer contribution to purchase: $500
1st time homebuyer required?: No
Land Lease or Covenant? Land Lease
*Payment amount assumes 6.125% interest on a 30-year, fixed-rate FirstHome loan of $176,000 with a $500 down payment and payment includes property taxes, insurance, service fee & HOA fees, if applicable.
To comfortably afford this home, we recommend an annual household income of at least $48,000. If your income is under this amount it might be difficult to qualify for the home loan.
You must be an income-qualified homebuyer. Owner-occupancy, resale, and other restrictions apply. Final monthly payment and down-payment amount will be determined by the lender based on current interest rates.
Priority will be given to households under 60% of the area median income based on the date of original application with Proud Ground.
Income Qualification
To qualify for this home, your total household income must be at or below a specific amount, based on household size. Proud Ground calculates your income by reviewing recent pay information and accounting for any expected raises or additional income that might occur during the first year you own your home. Household income includes gross annual income (before taxes), commissions, overtime, bonuses, child support, alimony, pensions, benefits, and income from anyone 18 or older living in the home, even if they’re not on the loan. Once you have purchased your home, no additional income certification is required. This is a strict guideline and no exceptions to maximum income limits can be made.
Please review the table to see if you qualify.
| Household Size | Maximum Gross Household Income |
|---|---|
| 1 | $71,900 |
| 2 | $82,150 |
| 3 | $92,400 |
| 4 | $102,650 |
| 5 | $110,900 |
| 6 | $119,100 |
| 7 | $127,300 |
| 8 | $135,500 |
Application Deadline - 12:00 pm on Wednesday September 23rd
See the Steps to Get Started.
Funding Support Provided By
