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NCRA Homebuyer Assistance Program Lender Process Flowchart

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1. The First-time Home Buyer (FTHB) completes an approved homebuyer training class.  A list of class sites is posted on the State of Oregon, Department of Housing and Community Services (OHCS) website at www.oregonbond.us

2. FTHB chooses a lender from the state's list of approved lenders and gets pre-qualified.  A list of approved lenders is on the OHCS website. 

3 . Clackamas County’s Community Development Division (CDD) provides a complete packet of forms to interested lenders upon request.  The CDD manages the North Clackamas Revitalization Area Homebuyer Assistance program through an agreement with the Clackamas County Development Agency.

NCRA Homebuyer Form Packet (emailed in PDF format):

4. Lender and FTHB fill out an application for NCRA funds.  Lender certifies that FTHB meets all NCRA borrower requirements, per guidelines.

5. FTHB shops for home within price-range and selects potential house within the boundary of the North Clackamas Revitalization Area.

6. Lender submits to CDD the following forms and supporting documentation to establish eligibility for NCRA funding:

NCRA Homebuyer Forms (completed and signed):

Supporting Documentation (copies):

7. Upon receipt of the NCRA Homebuyer application, CDD will:

8. Within 3 working days of receipt of 05-HQS Inspection Request:

9. If applicant is eligible and home passes initial review/inspection, CDD or CCDA reserves funds and notifies Borrower and Lender.

10. Lender schedules a closing date.  Lender faxes closing notification form to CDD.

11. Lender submits the following documents to CDD two weeks prior to closing:

NCRA Forms (completed and signed):

Supporting Documentation:

CDD will require a two-week review and approval period

12. One day before closing:

Title Company faxes to CDD a Preliminary HUD-1 or similar settlement statement.

13. At closing:

CDD sends the following documents to the Title Company:

CDD or CCDA also provides the NCRA funds in the form of a check – NCRA funds cannot be wired.  The check must be held until the documents listed below are returned to and approved by CDD or CCDA.

14. After closing:

Title Company sends to CDD:

CDD or CCDA notifies Title Company that NCRA check can be cashed.

15. Annual monitoring.  CDD will obtain certification of primary residence from the homeowner each year throughout the ten-year lien.

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