OAR 813-066-0025. Homeowner Eligibility and Requirements for Program Loans

Requirements for homeowner eligibility include, but are not limited to, the following: (1) The Manufactured Dwelling that is being replaced must be owned by and used as the homeowner’s primary residence a minimum of one year prior to the date of the homeowner’s Program loan application. (2) The new Manufactured Dwelling must be the homeowner’s primary residence throughout the term of the loan. (3) Homeowner’s Manufactured Dwelling and income must meet all conditions set forth in ORS 458.356. (4) Homeowner’s Manufactured Dwelling was: (a) Constructed prior to 1995 and is not being replaced due to total loss incurred through fire damage, water damage, extreme weather, acts of vandalism, or other events commonly covered by homeowner’s insurance; or (b) Constructed on any date, destroyed or lost as a result of a Natural Disaster, and was homeowner’s primary residence at the time of the Natural Disaster. (5) Homeowner has not received or been awarded any other natural disaster Manufactured Dwelling replacement loan or grant funds through OHCS. (6) Homeowner’s adjusted gross annual income is no greater than 100 percent (100%) of statewide or local area median income, whichever is greater, adjusted for household size at the time of application. (7) Homeowner has completed an OHCS approved homeownership education course.