Hacienda’s CASA20 is a new lending program that will help moderate-income, first-time homebuyers of all backgrounds build the stability and generational wealth that comes from homeownership, with a focus on communities of color. The program offers qualified homebuyers 100% financing that eliminates two common upfront barriers to homeownership: the need to make a large down payment and to purchase costly private mortgage insurance.

The program is open to Oregon residents. It is designed to serve moderate-income, first-time homebuyers. Moderate income means households at 80%-120% of the area median income, or $85,000-$127,000 per year for a Portland family of four.

Lending through the CASA20 loan program is provided using a trusted 80/20 model. Homebuyers in this program will have two lenders. They will secure 80% financing from a bank or credit union that is one of Hacienda’s trusted partners. Hacienda will provide the remaining 20% (up to $100,000 on a $500,000 home) with a fixed-rate, 30-year loan.

The 20% “gap” loan from Hacienda eliminates the requirement for the buyer to purchase costly private mortgage insurance (typically up to 1% or more of the original loan amount, or hundreds of dollars per month). Together, the 80% and 20% provide 100% financing, not including certain costs and a small good-faith deposit from the buyer.

More information about our program for prospective homebuyers, Camino a Casa, is available on our website at haciendacdc.org/camino-a-casa.

This program is made possible by a one-time funding allocation from the Oregon Legislature and contributions from our network of trusted lenders and other partners — banks, credit unions, and real estate agencies.