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HomeBank LoanOregon First-Time Homebuyer Packages | The Lenders Community

Oregon First-Time Homebuyer Packages | The Lenders Community

Get Pre-Approved and Check Rates


  • Oregon RateAdvantage Home Loan for OHCS’ lowest interest rates on a fixed-rate loan
  • Oregon Cash Advantage Home Loan for below-market interest rates paired with closing cost assistance
  • Oregon Down Payment Assistance for a grant of up to $15,000 to put towards your home purchase

Oregon Bond Residential Loan Program

OHCS helps low and moderate-income families in Oregon buy their first home by providing below-market interest rates to help eligible families increase their home purchasing power and lower their monthly house payments. Read more

The program offers: 

  • Assistance for first-time homebuyers
  • Affordable 30-year fixed interest rates
  • Zero cash down payment
  • Down payment assistance grants of up to $15,000
  • 3% closing-cost assistance grant with a lower-rate mortgage


  • First-time homebuyers in Oregon
  • Must use a participating lender from the OHCS’s approved list
  • Complete a home buyer education course
  • Meet household income limits

                                     Purchase Price Limits

            County                Non-Targeted Area         Targeted-Area

  • Benton                                 $357,417          $436,843
  • Clackamas                           $436,049          $532,948
  • Clatsop                         Not Applicable          $374,436
  • Columbia                              $436,049          $532,948
  • Deschutes                            $382,947          Not Applicable
  • Hood River                           $423,794          Not Applicable
  • Jackson                                $296,145          $361,956
  • Marion                                  $304,315          $371,940
  • Multnomah                           $436,049          $532,948
  • Polk                                      $304,315          $371,940
  • Washington                          $436,049           Not Applicable
  • Yamhill                                 $436,049           Not Applicable
  • All Other Counties                $294,600          $360,067

*If the county is not specifically listed, use the “All Other Counties” figures.*

National First-Time Homebuyer Loan Programs

  • FHA LoansFHA home loans are very popular with first-time homebuyers cause they require a 580 credit score with just a 3.5% down payment. Debt-to-income ratios up to 50% are allowed making them perfect for low-income borrowers.
  • Conventional LoansConventional loans require a 620 credit score and a 5% to 20% down payment. If you put 20% or more down, mortgage insurance will not be required.
  • USDA LoansUSDA mortgage loans are for low-to-median income borrowers buying a home located in a USDA-eligible rural area. They provide 100% financing with a 620 or higher credit score. Mortgage insurance is required but the rate is the lowest of any type of mortgage program available.
  • VA Loans – Veterans of the U.S. military may be eligible for a VA home loan. No down payment or mortgage insurance is required and veterans with a 580 to 620 credit score are eligible.
  • HomeReady and Home Possible Loans – Freddie Mac and Fannie Mae created the HomeReady and Home Possible loan programs for low-income first-time homebuyers whose income does not exceed 100% of the area median income requiring just a 3% down payment and a 620 credit score.

Get Pre-Approved and Check Mortgage Rates

Helpful Resources


Statewide and Regional Programs

Other Home Purchase Programs by Area

Getting Started

Buying a Home

Owning and Maintaining Your Home



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