Eugene Loan Guy

NEDCO, the Neighborhood Economic Development Corporation, serving Lane and Marion Counties in Oregon will be celebrating 30 years of “innovative community economic development, neighborhood revitalization, and successful homeownership programs” in their new Springfield location in January, according to their most recent NEDCO NEWS.

NEDCO is the presenter of the ABCs of Homeownership, a pre-requisite for both the Eugene HAP and Springfield SHOP homebuyer assistance programs. They also offer the “Threshhold” program to help potential homebuyers get their finances in order to be able to get into the housing market. Additionally NEDCO is one of the sponsoring agencies of the VIDA (Valley Independent Development Account) which can be used for the purchase of a home or to start a business. The program allows for a 3:1 match to savings.

According to the newsletter, over 60 families are currently enrolled in the VIDA program, with excellent results. I recently closed a loan where part of the down payment came from a VIDA account. Without that money, they would not have been able to purchase their new home that quickly. Now, NEDCO is asking for donations to the program.

The donations can be made through Neighborhood Partnerships and be a 75% tax credit. To find out more about the donations and how it can be like paying only $25 when donating $100, check out this link. NEDCO does some excellent work in our area and it would be great for the Eugene/Springfield area to help them in this work.

If you need any assistance with any loan programs or would like to know how the NEDCO programs can help you in becoming a home buyer, call me today at 541-342-7576/541-221-3455 cell or e-mail me. The NEDCO office in Springfield is located at 212 Main St. and the one in Salem is located at 868 Commercial St., SE.