NCRA Homebuyer Assistance

NCRA Homebuyer Assistance is a deferred second loan for homebuyers in North Clackamas Revitalization Area, Oregon. Clackamas County's NCRA Homebuyer Assistance provides up to $50,000 in down payment and closing cost help as a 0% interest deferred second mortgage to first-time homebuyers purchasing within the North Clackamas Revitalization Area urban renewal boundary. Funded through tax increment financing from the NCRA URA. North Clackamas Revitalization Area (NCRA) Homebuyer Assistance provides up to $50,000 as a 0% interest deferred-payment second mortgage for down payment and closing costs. Property must be located within the NCRA boundary in unincorporated North Clackamas County (Oak Lodge, Jennings Lodge, Milwaukie urban area, etc.). Funding comes from County, TIF, and URA.

NCRA Homebuyer Assistance 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.

NCRA Homebuyer Assistance 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: Typically 640 minimum FICO. A homebuyer education course is required, through HUD-approved housing counseling agencies (Proud Ground, Portland Housing Center, etc.). Residency requirement: Property must be located within North Clackamas Revitalization Area boundary. Citizenship or immigration status: U.S. citizen or qualified non-citizen. Pre-purchase homebuyer education required. Property must be located within the North Clackamas Revitalization Area (NCRA) urban renewal boundary. Income limit 80% AMI ($67,700 for 1-person; $112,200 for 8-person). Maximum purchase price $335,000.

NCRA Homebuyer Assistance limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% AMI Portland-Vancouver-Hillsboro MSA: 1-person $67,700; 4-person $96,650; 8-person $112,200 (2025). 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.

NCRA Homebuyer Assistance caps the purchase price at $335,000. Eligible property types include 1-unit single-family, condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

NCRA Homebuyer Assistance serves homebuyers purchasing in North Clackamas Revitalization Area, Oregon. The program targets specific areas: Property must be located within the North Clackamas Revitalization Area urban renewal boundary.

Applications for NCRA Homebuyer Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Application through Clackamas County Community Development. 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.