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Panel urges passage of Amplify Oregon accelerated mortgage program to boost shared-equity homebuying
Summary
Supporters told the House committee that the Amplify Oregon mortgage product — a state-backed, 20-year mortgage blended with private capital — would accelerate equity for buyers in shared-equity models and expand affordable homeownership if additional state funding and bank matches are approved.
Supporters of House Bill 3,235 told the House Committee on Housing and Homelessness that Amplify Oregon, an accelerated mortgage product designed to pair state funds with private capital, would help first-time buyers build equity faster while preserving long-term affordability in shared-equity projects such as community land trusts.
“By blending private bank capital with state funding, we're able to double the impact of the state investment while delivering loans with below market interest rates,” said Bill Van Vliet, executive director of the Network for Oregon Affordable Housing (NOAH). Van Vliet and other lenders said the program’s structure — a 20-year mortgage with monthly payments similar to a 30-year market loan —…
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