OAR 813-066-0025
Borrower Eligibility and Requirements for Program Loans

Requirements for borrower eligibility include, but are not limited to, the following:

(1)

The manufactured dwelling must be the borrower’s primary residence throughout the term of the loan.

(2)

The manufactured dwelling must be sited either:

(a)

in a manufactured dwelling park that has registered with OHCS and either has entered into a regulatory agreement with OHCS or is negotiating a regulatory agreement with OHCS that is at least partially conditioned upon the replacement of the manufactured dwelling, or

(b)

on land owned or purchased under a land sale contract by the individual borrower.

(3)

Income restrictions for eligible homeowners will be determined at the advice and consent of the Oregon Housing Stability Council, and shall not exceed the greater of 100 percent of the statewide or local area median income adjusted for household size at the time the loan is approved.
(4) Borrower must be able to obtain primary home financing from another source that is acceptable to OHCS. The program loan will be subordinate to the primary home financing.

Source: Rule 813-066-0025 — Borrower Eligibility and Requirements for Program Loans, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-066-0025.

Last Updated

Jun. 8, 2021

Rule 813-066-0025’s source at or​.us