(Rendering courtesy of Bend-Redmond Habitat for Humanity)
The Bend City Council has approved $350,000 in Affordable Housing Fund support to help eight local households purchase homes through Bend-Redmond Habitat for Humanity.
The funding will provide down payment assistance for buyers at Habitat’s eight-home development in Bend. Two households earn below 50% of area median income, and the average household income across the development is approximately 60% of area median income.
For many buyers, the challenge is not making a responsible monthly housing payment. It is qualifying for a mortgage large enough to cover the cost of a home in Bend. Down payment assistance closes that gap while allowing Habitat to tailor the mortgage to each buyer’s income.
“This investment will help eight hardworking local households move from being qualified and prepared buyers to becoming homeowners,” said Carly Colgan, Chief Executive Officer of Bend-Redmond Habitat for Humanity. “Down payment assistance closes the gap between what buyers can afford and what it costs to deliver a home in Bend. It allows us to keep monthly housing costs stable and sustainable for each homeowner.”
The homes are being built on formerly surplus City-owned land near Bear Creek Road and NE 15th Street. Habitat was selected to develop the property through a competitive City process.
Habitat buyers complete homebuyer education and financial coaching before purchase. At this development, total monthly housing costs will be capped at 30% of each buyer’s gross monthly income.
“Homeownership has always represented stability to me, not luxury,” said Jessica, a future Habitat homeowner who works at Shepard’s House and is raising two children. “I have worked hard to prepare for this opportunity, but on my income, I could not qualify for a mortgage large enough to buy a home in Bend. This assistance closes that gap and gives my children and me a place where we can finally put down roots, build traditions and know that we belong.”
The homes will remain affordable through Habitat’s land trust model. When a homeowner sells, the home will be made available to another income-qualified buyer, allowing the City’s investment to support future homeowners as well.
All eight homes will be built to high-performance energy standards and include solar, efficient mechanical systems and strong indoor air-quality features. Four homes will include enhanced accessibility features informed by Universal Design and selected accessibility standards.
More than 300 households submitted pre-applications for the eight available homes, reflecting the significant demand for affordable homeownership in Bend.
About Bend-Redmond Habitat for Humanity:
At Bend-Redmond Habitat for Humanity, we believe everyone deserves a safe, stable and healthy place to call home. Since 1989, we have served more than 250 families through affordable homeownership and revitalized 145 homes, transforming the lives of more than 1,100 children and adults.
Bend-Redmond Habitat partners with local households who are ready to buy but priced out of the housing market. Through affordable mortgages, education, financial coaching and long-term stewardship, Habitat creates homeownership opportunities that remain affordable for generations.
