Update: PCRI and MHAC Down Payment Assistance Information

November 1, 2010 · by pcriadmin · PCRI

PCRI announced in June our participation in the Minority Homeowner Assistance Collaborative (MHAC).  In September 2010, the Portland Housing Bureau awarded PCRI and our MHAC partners $600,000 in Down Payment Assistance Loans for lower-income Portland families.  This down payment assistance is one way the Collaborative is working to assist minority home buyers toward their goals of home ownership.  Please read below for an important update on the status of DPAL applications.

Release of the Down Payment Assistance Loan application has been postponed from November 1st to later in the month.  The delay is a result of the DPAL program needing to be modified in order to be compatible with current mortgage lending guidelines.

PCRI and MHAC will release the new application as soon as these issues have been resolved and new guildelines have been adopted by the Portland Housing Bureau.  The projected release date of the DPAL application is November 15th.

Individuals and families interested in (or with questions about) the program may contact Charles Funches, Homeownership Program Manager, for additional information.

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