Oregon first time home buyer grants and loan programs - Oregon Housing and Community Services (OHCS) offers several programs for first time home buyers.
OHCS provides a residential loan program first time home buyers of a single family home. The program offers a below-market rate home loan/mortgage, which is made possible through the sale of tax-exempt mortgage revenue bonds. Eligible buyers must meet certain income requirements and the home loans are usually .75 percent to 1 percent below the market rate. Assistance is also offered for a downpayment and closing costs.
OHCS also offers a Housing Rehabilitation Program (HRP) which helps eligible low income buyers buy, repair and maintain a home. The homes purchased are usually limited rural areas of Oregon.
Another program offered by OHCS is a Home Ownership Assistance Program (HOAP), which offers grants to organizations that help eligible home buyers. The grants are available to low income home buyers and can be used for a downpayment and closing costs.
To see if you qualify for any of these programs, check out the OHCS website.