West Lake Grove is in a well-established area with great proximity to businesses, public transit, schools, and outdoor amenities. Lake Oswego is also well known for its high-quality schools and premier parks and natural areas. Whether it’s enjoying the city’s downtown area or one of its many parks and walking trails, residents are within a short distance of all the beauty. Waluga Park and Lamont Springs City Park are both less than a mile away from this neighborhood.
All of the homes at West Lake Grove will be built for lasting affordability. This allows homeowners to continue building equity in their homes, while ensuring that the homes are affordable to the next buyers.
Applications are now closed for this community.
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Features
- Earth Advantage Platinum energy efficiency certification on all units
- Within walking distance to transit, shopping, grocery stores and parks
At a Glance
Schools
- Lake Oswego High School, grades 9-12
- Lake Oswego Junior High School, grades 6-8
- Lake Grove Elementary School, grades K-5
Transportation
- Bus #37
Nearby
- West Waluga Park
- Bridgeport Village
Financial Information
Fern Loan Program Eligibility for West Lake Grove
All remaining homes in the West Lake Grove neighborhood are designated for buyers who qualify for Habitat’s Fern Loan Program. Under this program, buyers must demonstrate that they can afford the home’s full affordable purchase price with a resulting monthly housing payment that is at or below 34% of gross monthly income.
Habitat partners with lenders to provide below-market interest rate mortgages, which significantly lowers monthly payments. Based on current rates, a buyer would typically need an annual household income of approximately $79,258.44 to qualify for these homes without other resources.
Buyers may also qualify with a lower income if they have access to down payment assistance, grants or subsidies from partner organizations, or personal savings. These additional resources reduce the loan amount and make the home affordable for buyers below the typical income threshold.
To help us confirm eligibility, applicants will need to show documentation that any down payment funds or down payment assistance they plan to use is already secured at the time of application.
Please join our mailing list to hear when we open our next round of applications for future communities.