Home Pathways

Home Pathways is a deferred second loan for homebuyers in Gresham|Rockwood, Oregon. Rockwood Community Development Corporation's Home Pathways program supports first-time and minority homebuyers purchasing in the Rockwood neighborhood of east Gresham/east Multnomah County through DPA loan products and homebuyer education. Home Pathways provides homebuyer assistance and down payment loan products to support homeownership in the Rockwood neighborhood (East Multnomah County / east Gresham). Specific loan amount, income limits, and credit terms vary by funding cycle. Funding comes from Local, HOME, and CDBG.

Home Pathways is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, transfer, refinance without subordination, or loss of owner-occupancy. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Home Pathways is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Per current program guidelines. A homebuyer education course is required, through Rockwood CDC Homebuyer Education / HUD-approved housing counseling. Residency requirement: Property must be in Rockwood neighborhood / east Multnomah County. Citizenship or immigration status: U.S. citizen or qualified non-citizen. Pre-purchase homebuyer education required. Property must be located within the Rockwood neighborhood / east Multnomah County service area. Specific income, credit score, and purchase-price parameters set per funding cycle. Contact Rockwood CDC for current eligibility.

Home Pathways sets its income limit as follows: Income limits set per current funding cycle - typically targeted at low- and moderate-income Rockwood residents. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Home Pathways caps the purchase price as follows: Per current program cycle. Eligible property types include 1-unit single-family, condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

Home Pathways serves homebuyers purchasing in Gresham|Rockwood, Oregon. The program targets specific areas: Rockwood neighborhood / east Gresham / east Multnomah County.

Applications for Home Pathways go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application through Rockwood CDC. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.