Whether you’re looking to rent or buy, the housing market in Grays Harbor County is tough. Constantly changing interest rates, rules and availability make the market hard to navigate. Add in a tight budget and putting a roof over your head can feel impossible. Thanks to loyal supporters like Bank of the Pacific, local nonprofit NeighborWorks of Grays Harbor works hard to help residents find a home of their own.
Rental and Mortgage Help in Grays Harbor with NeighborWorks
NeighborWorks has three main services they offer Grays Harbor County residents, supported by funds and volunteers from organizations like Bank of the Pacific.
First, NeighborWorks manages 33 housing units in Grays Harbor. “Some rents are subsidized through the Section 8 program administered by the Grays Harbor Housing Authority,” explains Eric Bjella, executive director of NeighborWorks in Grays Harbor. “Currently all units are rented,” Bjella adds. “Some units are offered at below market rents or we can accept Section 8 vouchers for those units, as well. A portion of prospective tenants are drawn from the Housing Authority’s list when a Section 8 unit becomes open.”
Another rather unique offering from NeighborWorks is home financing for income-qualified individuals looking to purchase a single-family home in Grays Harbor County. Borrowers have to go through an application process that includes income, credit and payment qualifications. It’s important to understand that funding is limited with this type of program. “As funding allows, borrowers may also be eligible to receive a down payment assistance loan and a reduced interest rate to increase payment affordability,” Bjella shares.
Finally, NeighborWorks can help with free Housing Counseling and Homebuyer Education programs in Grays Harbor. Topics include budgeting, credit analysis and pre-qualification analysis. “The home-buying process can be daunting for many people who haven’t been through it or haven’t purchased a home in a long time,” says Bjella. “Programs and criteria change over time, as does the housing market itself. We try to give our clients insights into what they can expect during the home-buying process. We explain the process and requirements as well as give them cost estimates so they are prepared both mentally and financially when they go to buy a home.”
They also have an E-HOME online homebuyer education class that is available for a small fee. “Many lenders require completion of these classes in order for people to qualify for First Time Homebuyer programs,” he adds.
Bank of the Pacific Supports NeighborWorks
None of these important programs would be possible without support from government funding, businesses, organizations and individuals. Bank of the Pacific donates money annually to the nonprofit, and this year they increased their donation to help offset growing expenses. “Bank of the Pacific funds help underwrite our Home Buyer education program so people accessing that service through our website can do so at a reduced cost,” Bjella shares. “These funds also go toward our ability to have a certified Housing Counselor on staff.”
Bjella notes that there are currently few homes in the Grays Harbor housing market in the affordable range (affordable to those making 80% or less of the area median income). Interest rates have risen, as have property taxes, utilities and insurance, making it harder to sustain a home. “People on limited or fixed incomes have been calling for assistance and we don’t have funding available to help in this situation,” he adds.
In the 20 years that Bank of the Pacific has supported NeighborWorks, they have donated a lot more than money. Bank of the Pacific team members have donated time as well, acting as board members and event volunteers. “I joined the board a little over two years ago,” says Dustin Bruland, senior vice president at the bank’s Aberdeen branch. He and his family moved to Grays Harbor in 2013. “I knew a few other people that were involved already and respected NeighborWorks. When I heard how the mission of the company was to work to provide safe, affordable housing for the people on the Harbor, I thought this is exactly what is needed and I wanted to be involved. I like that they can assist in a variety of ways, from assisting with unconventional mortgage loans, home repairs to existing homes, housing counseling and much more.”
Bank of the Pacific has also offered professional consultation for NeighborWorks employees when needed and helped with client referrals and meeting spaces. Aside from the board, Bank of the Pacific employees also sit on the NeighborWorks Loan Committee.
Bruland loves how supportive Bank of the Pacific is through involvement on the NeighborWorks board. “I very much appreciate that the bank allows me to attend board and committee meetings while I am on work time.” He shares. “I think it is great that the Bank invests back into the community and supports nonprofits like NeighborWorks of Grays Harbor with money as well as employee time and experience. This is one of the many reasons I enjoy working for Bank of the Pacific.”
Taking That Next Step With Your Current Home? NeighborWorks of Grays Harbor Can Help
Maybe you already have a home that you want to do a large remodel or upgrade project. NeighborWorks offers a service where they will oversee your project for a fee, handling all the hard stuff including developing a scope of work, getting bids from general contractors, overseeing the work and managing payments, so all you have to do is decide what color tile goes with your new cabinets.
You can learn more about NeighborWorks – including how to get involved in their important work – by visiting the NeighborWorks of Grays Harbor website. And if your next step includes a new loan or bank account, contact Bank of the Pacific. They are ready to meet you where you are now to help you achieve your future. No matter how many steps – big or small – it might take.
Bank of the Pacific Grays Harbor Branches
300 East Market Street, Aberdeen
360.533.8870
405 8th Street, Hoquiam
360.533.7227
150 S. Main Street, Montesano
360.249.2499
560 Commercial Street, Raymond
360.942.4904
145 W Chance a La Mer NW, Ocean Shores
360.289.2405
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