HB 4051
Creates a program for deferred loans to first-time home buyers in an amount not greater than the lesser of the closing costs on the purchase or one percent of the purchase price.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a program to help first-time homebuyers in Oregon cover closing costs. Eligible individuals can receive a deferred loan, up to the lesser of their closing costs or one percent of the purchase price, to purchase a homestead. The loan, with interest, becomes due when the home is sold, the borrower moves, or a mobile home is moved out of state, and the program is set to run for three years with an emergency declaration for immediate effect.
Sponsors
Official sponsors from legislative records.
Primary sponsors
E. Werner Reschke
Cosponsors
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