First Time Home Buyer Oregon

First time home buyer programs in oregon.

First time home buyer oregon. There are a number of choices available depending on your income down payment amount and other typical factors. In oregon first time buyer assistance is issued by department of oregon housing and community services ohcs. A first time home buyer account can be set up by anyone planning to purchase a home in oregon.

Money deposited in the first time home buyer sav ings account must be used to buy a single family home within 10 years of initially opening the account. First time home buyer programs in oregon for 2019. The first time home buyer program provides no interest matching loans of up to 20 000 for low income first time home buyers to cover a portion of the down payment closing costs associated with their purchase of a home within the city of corvallis.

First time home buyers in oregon can get low interest loans down payment assistance and closing cost help through ohcs. A first time home buyer savings account can be opened anytime between january 1 2019 through december 31 2026. The agency aims to help oregonians with low or moderate incomes obtain stable and affordable housing.

With those goals in mind ohcs has two core offerings for first time home buyers. Find out if you re eligible. The first time home buyer account must be opened between january 1 2019 and december 31 2026.

Oregon housing and community services is oregon s housing finance agency. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven deferred or subsidized in some manner until resale of the mortgaged property. Addresses salem office main north mall office building 725 summer street ne suite b salem or 97301 1266 directions to our main office links.

In january 2019 we researched the most current information for first time buyers in the state. An oregon bond program funds mortgages for first time homebuyers at low interest rates and the state also sends money to local programs for down payment assistance closing costs and other home buying expenses. Individuals have 10 years from when the account is opened to purchase a home.