Or. Admin. Code § 813-020-0060
Current through Register Vol. 63, No. 12, December 1, 2024
Section 813-020-0060 - [Effective until 5/2/2025] Eligible Borrowers and Residences(1) A borrower is eligible for a mortgage loan under the Program if they meet the eligibility requirements set forth in the Oregon Bond and Flex Lending FirstHome Guideline Manual, and more specifically in the case of a Mortgage Loan made with tax-exempt bonds, the borrower meets the requirements of Section 143 of the Internal Revenue Code of 1986, as amended, as further described below in OAR 813-020-0070.(2) A residence is eligible for a mortgage loan under the Program if: (a) The property is residential property located in Oregon;(b) The property contains one unit.(c) The property is structurally sound and functionally adequate; and(d) The property meets the requirements of the Department's Servicer.Or. Admin. Code § 813-020-0060
1HD 1-1980, f. & ef. 2-21-80; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 10-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 8-2011(Temp), f. & cert. ef. 9-30-11 thru 3-27-12; OHCS 1-2012, f. & cert. ef. 3-27-12; OHCS 46-2024, temporary amend filed 11/04/2024, effective 11/4/2024 through 5/2/2025Statutory/Other Authority: ORS 456.555
Statutes/Other Implemented: ORS 456.555