AmplifyOregon: A Mortgage Built for You
Homeownership is closer than you think. Here's how.
If you've ever thought homeownership wasn't possible, that you didn't have enough saved, or that the math would never work, Amplify wants to show you something different.
Amplify is a mortgage built specifically for people buying homes in a Community Land Trust. It's designed to make ownership more meaningful, paying off your loan faster starting from your very first payment.
What makes Amplify different
Most mortgages are 30 years. Amplify is 20 with an interest rate well below market. Because the rate is subsidized, your monthly payment is comparable to a conventional 30-year mortgage. The difference is where your money goes: less to interest, more toward actually owning your home. You build equity faster.
Here's what that looks like on a $255,000 home based on a 6.67% rate vs 4.7% through Amplify.
| Amplify* | Conventional 30-yr | |
|---|---|---|
| Monthly payment | $1,640 | $1,641 |
| Total interest paid | $219,456.58 | $335,537.81 |
| Equity at year 5 | $43,338 | $15,830 |
| Equity at year 10 | $98,133 | $37,907 |
| Loan paid off | Year 20 | Year 30 |
*Annual Percentage Rate (APR): 4.893%
It's a mortgage designed by Oregon-based nonprofits specifically for CLT homes and the buyers who can benefit the most.
What to expect
We meet you where you are
If you're already working with a homeownership team, we work alongside them. And if you're starting fresh, Amplify connects you to counseling, education, and financing together. So nothing gets lost and no one has to start over.
We stay with you
This process is new to most people, and we'll take the time you need. We'll be with you at every step, not just the transaction but the full journey.
What you need to get started
This program is for households earning a moderate income. Not sure if that's you? Reach out to find out.
- Credit score of 640 or higher
- Minimum of $1,500 of your own funds toward the purchase
- First-time homebuyer status for at least one person on the loan
Down payment and closing cost assistance may be available. We can help you find and combine programs that fit your situation.
Not quite ready yet? We can help with that too.
If homeownership still feels a few steps away, whether it's your credit, your savings, or just not knowing where to start, reach out. There are resources available to help you get there.
No matter where you're starting from, there's a path forward. We'll help you find it. Many of the families in homes today started exactly where you are now.
Ready to get started? Contact Rolando directly.
Rolando Valezquez
541-913-522
Rolando@CommunityLendingWorks.org
NMLS 1950965
Community LendingWorks NMLS 2601625
