Down payment assistance

Down payment assistance in Oregon

1 program can help buyers in Oregon with a down payment and closing costs. Most are for first-time buyers with moderate incomes and are used with a participating lender.

Check which programs fit your situationDown payment assistance finder

Flex Lending Down Payment Assistance (FirstHome and NextStep)

Open · Forgivable or repayable loan

4% of the first mortgage loan amount (standard) or 5% (focused demographics)

A second mortgage paired with an OHCS FirstHome (first-time buyers) or NextStep (any buyer) first mortgage, usable for up to 100% of cash to close. Terms depend on income: at or below 80% of AMI it is a 0%, no-payment forgivable second; above 80% of AMI it is an amortizing second repaid monthly at 1% above the first mortgage rate. OHCS manual versions I found give different amortization terms and don't state the forgiveness period, so those details are unconfirmed.

Who qualifies: FirstHome: first-time homebuyers, county income and purchase price limits. NextStep: no first-time requirement, qualifying income up to $125,000 with county AMI tiers. Homebuyer education required for anyone who hasn't owned a primary residence in three years. No minimum investment.

Oregon Housing and Community Services · Agency website → · Not yet confirmed by us: check the agency’s site for current amounts and rules.

How assistance usually works

Most programs are a second loan with no monthly payment that is forgiven over time or repaid when you sell or refinance, and some are grants. You usually need a program first mortgage from a participating lender, a homebuyer education course and income under the program’s limit. Apply before you make offers, so your pre-approval reflects the help.

More for Oregon

Oregon closing costs Oregon property taxes Where can I afford to buy in Oregon?Down payment timeline

Program amounts and rules change often. Confirm the details on each agency’s site before you rely on them.