Or. Admin. Code § 813-020-0060 - Eligible Borrowers and Residences

(1) A borrower is eligible for a mortgage loan under the Program if they meet the eligibility requirements set forth in the Oregon Bond and Flex Lending FirstHome Guideline Manual, and more specifically in the case of a Mortgage Loan made with tax-exempt bonds, the borrower meets the requirements of Section 143 of the Internal Revenue Code of 1986, as amended.
(2) A residence is eligible for a mortgage loan under the Program if:
(a) The property is residential property located in Oregon;
(b) The property contains one unit.
(c) The property is structurally sound and functionally adequate; and
(d) The property meets the requirements of the Department's Servicer.

Notes

Or. Admin. Code § 813-020-0060
1HD 1-1980, f. & ef. 2-21-80; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 10-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 8-2011(Temp), f. & cert. ef. 9-30-11 thru 3-27-12; OHCS 1-2012, f. & cert. ef. 3-27-12; OHCS 46-2024, temporary amend filed 11/04/2024, effective 11/4/2024 through 5/2/2025; OHCS 20-2025, amend filed 04/16/2025, effective 4/16/2025

Statutory/Other Authority: ORS 456.555

Statutes/Other Implemented: ORS 456.555

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