Eligibility: First-time homebuyers (FirstHome) or repeat buyers (NextStep), veterans included.
Description: Previously offered Rate Advantage and Cash Advantage loans—still available until fully phased into FirstHome option .
Benefits: Up to 4–5% of the loan amount as a deferred second mortgage; grants are available via local nonprofit partners (up to $60,000 or 20% of purchase price) .
Portland Down Payment Assistance: Up to $40,000 deferred loan (0% interest, due upon sale/refinance); income ≤ 80% AMI ($77,350 for family of four).
Salem First-Time Homebuyer Program: Up to $15,000 forgivable loan (after 10 years); income ≤ 80% AMI; workforce housing target.
Eugene Homebuyer Assistance: Up to $12,000 0% deferred loan (due upon sale); income ≤ 80% AMI.
Oregon Housing and Community Services (OHCS) Programs:
Flex Lending (FirstHome & NextStep):
Offerings: 30‑year fixed‑rate mortgage with below‑market rates; paired with down payment assistance (DPA).
Requirements:
Oregon Bond Residential Loan Program (phasing out):
Down Payment Assistance (DPA):
Local Programs:
Portland
Salem
Eugene
Additional Information:
View First-Time Home Buyer Programs for: Pennsylvania