Bootcamp For Buyers

First Time Homebuyer Programs in Oregon

Oregon offers several first-time homebuyer programs through the Oregon Housing and Community Services (OHCS). These programs provide financial assistance, competitive mortgage options, and resources tailored to new buyers.

Oregon Bond Residential Loan Program

The Oregon Bond Residential Loan Program offers affordable fixed-rate mortgages for first-time buyers.

  • Features a 30-year fixed-rate loan with below-market interest rates.
  • Available for FHA, VA, USDA, and conventional loans.
  • Income and purchase price limits apply, based on location and household size.

Cash Advantage Program

The Cash Advantage Program provides financial support for upfront costs.

  • Offers a cash grant of up to 3% of the loan amount for down payment and closing costs.
  • No repayment required; assistance is a true grant.
  • Must be combined with an Oregon Bond Residential Loan.

Rate Advantage Program

The Rate Advantage Program offers reduced interest rates to qualified buyers.

  • Provides a lower interest rate in exchange for no upfront cash assistance.
  • Ideal for buyers who can cover their own down payment and closing costs.
  • Includes eligibility criteria based on income and purchase price.

Oregon’s first-time homebuyer programs are designed to make homeownership more accessible and affordable. Explore these options to find the perfect fit for your needs and take the first step toward owning your dream home in the Beaver State.