By Robin Hakeman, September 12, 2020
First time buyer gets America’s Home Grant!
It’s not everyday that a first time home buyer can become a home owner thanks to a grant program. However, that is exactly how my client joined the real estate market. She was fortunate to qualify for the America’s Home Grant through Bank of America, which offers closing cost assistance of $7,500. The credit can be used towards non-recurring closing costs, (think title insurance and recording fees), and to buy down the interest rate on the loan. My buyer closed on her home this week with $0.00 in closing costs and a 30 year, fixed-rate mortgage at 2.75%!! The icing on the cake? The funds she received do not need to be repaid to the bank!
One caveat of the program is that the subject property must be in a low to moderate income tract. Each home is run through the bank’s system to check the income tract. Some qualify and some do not, meaning you are limited to certain areas of Portland. The competition for these homes can be fierce. After making an offer on a property that received 10+ offers within 1 day, my client was discouraged.
Thankfully, this summer turned out to be the height of the selling season and homes were coming on the market left and right. A home on the outskirts of Montavilla came on the market and it was perfect for her. It met the Bank’s requirements so we went to see it. The house has 2 bedrooms and 1 bathroom, a lovely living room & updated kitchen. There is a back deck and a small yard. The attached garage is perfect for her car and storage. Thanks to America’s Home Grant, my client was able to beat out the other offers and offer over the asking price. This could not have happened without the closing cost assistance she was given.
As an agent, it is important to know the options for your clients so they are able to get into a home. This is a single woman, on her own becoming a HOME OWNER!!! I am so proud to have helped her through this process. If you or someone you know would like to learn more about how to become a home owner, contact me today! Congratulations to my awesome client – she now owns her own special piece of Portland.
Robin Hakeman
Broker | Earth Advantage | OR
She/Her
LOVE WHERE YOU LIVE ♥One of the things I love most about my work in real estate is that it never feels like "work" to me. I love it. I love guiding my clients through the process & celebrating all of the wins along the way. Are you a first time buyer who needs the 101 on all things real estate? We'll sit down and go through it all. Or are you a seasoned-pro looking for top notch service & strategy? We will work closely to put together a plan that ensures your home stands out above the competition. I am passionate about understanding the needs of each client and will be your advocate every step of the way. I truly value the relationship that we will create and my goal is to make this a fun & successful experience for everyone. Why real estate? My background as a Merchandise Manager for top retail brands prepared me well. I am that rare combination of business smarts meets creativity and this works well for real estate. I have the analytical background necessary to help both buyers and sellers with numbers and negotiation, as well as the creative vision to help clients prepare their homes for sale. As a native Oregonian, I have a deep understanding of all things Portland & beyond. I spent my childhood living in Tigard and when I was old enough, I realized a dream of living on NW 23rd Ave. The first home I owned was in NE Portland and now I live back in the burbs! When I'm not at the office or out with clients you can find me playing tennis, taking a barre3 class, enjoying family time, volunteering at a school and enjoying local theater arts. My super power is open & honest communication - and it works! Let's chat. Specialties Include:
- First Time Buyers
- Upsizers/Downsizers
- Relocation
- Condo Purchase/Sale
- New Construction
- Top 5 Broker, Q2 2022, Living Room Realty
- Earth Advantage Certified
- Real Producers "Rising Star" feature, Feb 2021
- Five Star Professionals Rising Star award, 2019
- Fiver Star Professionals Winner, 2023
- T: 503-680-0404
- robin@livingroomre.com
