Iowa DPA Programs
Explore down payment and homebuyer assistance programs in the state of Iowa.
April 19, 2023
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Oregon
Oregon Down Payment Assistance (DPA) Programs
Located in the northwestern United States, Oregon is the 33rd state in the Union and is nicknamed The Beaver State. With 255 state parks and 11 national forests, Oregon has more than 5,900 registered campsites.
The state’s capital is Salem and the largest city is Portland. With a population of more than 4 million people, Oregon boasts a homeownership rate of 64.9% (2022-U.S. Census Bureau).
DPA programs across the country continue to make homeownership possible for many. Below is a list of programs available in the state of Oregon. Also, combining programs may be possible, so be sure to inquire.
In this article
Oregon Housing and Community Services
Community Connection of Northeast Oregon
Marion County Community Development
Springfield Development & Public Works
Clackamas County Development Agency
Grand Ronde Housing Department
Hacienda Community Development Corp.
Portland Community Reinvestment Initiatives
Nixyaawii Community Financial Services
Oregon Housing and Community Services
Oregon Bond Residential Loan Program – Cash Advantage
“The borrower gets a competitive interest rate on their home loan along with cash equal to 3% of their loan amount. The cash assistance will help reduce the total closing costs needed to buy the home. Borrowers cannot use Cash Advantage funds for the minimum investment required for an FHA Loan.”
Oregon Bond Residential Loan Program – Rate Advantage
“The borrower maximizes their buying power with a competitive interest rate and a lower monthly payment.”
Homeownership Programs DPA
“DPA funds may be used for up to 100% of the borrower’s cash requirement to close, including down payment, closing costs, pre-paid items, upfront borrower-paid mortgage insurance, and other related loan fees and expenses.”
Oregon Department of Veterans
Oregon Veteran Home Loan Program
“Oregon is one of only five states that offers a veteran home loan program. This Oregon benefit is separate and distinct from the federal VA Home Loan Guaranty. Take advantage of your exclusive veteran benefit and lock in great mortgage rates available only to Oregon veterans.”
Portland Housing Center
Mortgage Assistance Program
“MAP 80 offers qualified borrowers with a $500 minimum down payment a low, fixed-interest rate loan of up to $80,000 for down payment and closing costs on a home in Multnomah, Washington, Clackamas, Yamhill, or Columbia Counties. It covers up to 20 percent of the home’s purchase price, and can eliminate the need for an upfront mortgage premium and monthly mortgage insurance.”
Individual Development Accounts (IDAs)
“The Oregon IDA Initiative is a matched savings program that helps first time homebuyers who live in Oregon save for their home purchase. Qualified participants who are accepted into the program save in a special savings account for a minimum of 6 months and have their savings matched at a rate of $5 for every $1 they save. Receive up to $12,000 in IDA Match Funds for home purchase.”
Portland Housing Bureau (PHB)
Down Payment Assistance Loan Program (DPAL)
“The Down Payment Assistance Loan (DPAL) is designed with favorable terms to help first-time homebuyers purchase a home within the city limits of Portland. DPAL award amounts can be up to $80,000 – $100,000, depending on funding source and location of home.”
Home Improvement Grant Fund
“10% of the award amount will be granted to the homebuyer and will be deposited into a Home Improvement Grant Fund managed by PHB. Grant funds must be spent on eligible improvements within six months of loan closing.”
Housing Works
HomeQuest Ground Lease Program
“The Home Ownership Assistance Program (HOAP) is a down-payment and closing cost assistance program designed to help low-to-moderate income first-time homebuyers purchase a home in Jackson or Josephine Counties.”
Tutor Home Program
“Our “homeowner in training” program. The Tutor Home program provides residents the opportunity to lease a home for up to two years while they take steps to prepare for the purchase of their own home.”
Housing Choice Voucher Home Ownership Voucher Assistance Program
“Housing Choice Voucher (HCV) holders may qualify to apply their monthly housing assistance towards a mortgage payment instead of rent.”
Beaverton Housing Services
Seeking Lower Cost Homeownership
“To qualify for reduced cost homeownership the applicant’s new home must be within city limits, household income may not exceed income limits, and funding must be available; there may be overreaching restrictions that prevent CDBG funds from being used at a particular address. The property must be and remain owner-occupied. While the cost of homeownership is significantly reduced the buyer(s) must qualify for a traditional home mortgage.”
Welcome Home Beaverton
“The City of Beaverton has partnered with the Portland Housing Center to offer down payment assistance for low-income, first-time home buyers! Eligibility is determined based on household income and size. Assistance is $25,000 per home.”
Access
Home Ownership Assistance Program (HOAP)
“The Home Ownership Assistance Program (HOAP) is a down-payment and closing cost assistance program designed to help low-to-moderate income first-time homebuyers purchase a home in Jackson or Josephine Counties.”
Community Connection of Northeast Oregon, Inc.
Individual Development Account for First-Time Homebuyers
“The Individual Development Account (IDA) is a special savings account to help individuals of modest finances save money to invest in a home. The IDA program is a 5-to-1 matched savings program. This means that for every $1 you save, the program will match it with $5. Once you reach your savings goal, the money may be spent on your home purchase.”
Veteran Down Payment Assistance Loan Program
“The Veteran Down Payment Assistance Loan Program, funded by Oregon Housing and Community Services (Veteran DPA), was initiated in response to helping first-time veteran homebuyers purchase a home and to create an affordable mortgage payment. The target area is Community Connection’s four-county geographic area of Baker, Grant, Union, and Wallowa.”
Marion County Community Development
Down Payment Assistance Program
“As a new entitlement community receiving funds from HUD Marion County is establishing its first down payment assistance program. A maximum amount of $25,000 can be acquired for down payment assistance for an eligible homebuyer. HOME assistance will be in the form of a 0% interest, deferred payment loan whereby 100% of the amount provided must be repaid if sold within the first 5 years.”
Springfield Development & Public Works
Springfield Homeownership Program (SHOP)
“The City can loan up to $25,000 toward the down payment and related costs of buying a qualified home within the Springfield City Limits. The loan is interest-free and repayment is generally not required until the home is sold, refinanced, or transferred.”
Gresham Community Services
WELCOME HOME Program
“The WELCOME HOME program can loan up to $40,000 to help qualified low-income, first-time homebuyers pay for a down payment and reasonable closing costs.
The loan is a 0% interest deferred-payment that’s forgiven at the end of 15 years. Homes purchased through WELCOME HOME must be the homebuyer’s primary residence for the length of the loan.”
Clackamas County Development Agency
Down Payment Assistance Program
“Down payment assistance for first-time homebuyers through no-interest loans that defer payments until a property sale or transfer. The loans are forgiven if the home remains owner-occupied for at least 10 years. Preferences are given to current NCRA residents, law enforcement personnel, and current or former members of the military.”
NeighborImpact
Individual Development Accounts (IDAs)
“Individual Development Accounts (IDAs) are matched savings accounts that allow individuals and families to save and generate money for a specific savings goal. For every $1 you save, you receive a match of an additional $5. You can save up to $2,000 of your own funds and be matched with up to $10,000!”
NeighborWorks Umpqua
Veteran Down Payment Assistance Grant
“Up to $15,000 in grants are available for Veterans to help with down payment or closing costs for first-time homebuyers in Coos, Curry, Douglas, Klamath, and Lake counties.”
Dream$avers IDA
“Individual Development Accounts (IDAs) are matched savings accounts that help individuals save towards a specific Asset. We match every dollar you save in the program with $5. Participants can save up to $1,800 and be matched with up to $9000.”
Homes for Good Housing Agency
Section 8 Homeownership
“The Section 8 Homeownership program requires that you are currently in the Section 8 program. The program allows you to use the Section 8 voucher, but instead of using the funds toward rent, you use it to help pay your mortgage.”
Grand Ronde Housing Department
Camino a Casa
“This program provides down payment assistance to enrolled members of the Confederated Tribes of Grand Ronde. The down payment assistance grant cannot exceed 20% of the purchase price and closing costs, to a maximum of $20,000.”
Hacienda Community Development Corp.
Camino a Casa
“Thanks to great partnerships, we offer to fund to partially or entirely cover down payments and closing costs through opportunities like our 5:1 IDA match savings plan (the Individual Development Account) to larger down payment assistance loans.”
Portland Community Reinvestment Initiatives (PCRi)
PCRi Homeownership Program
“PCRI develops new homes for purchase by qualifying first-time buyers and provides a comprehensive Homeownership Education and Counseling Program to ensure buyers can become and remain successful homeowners.”
Individual Development Account (IDA)
“An Individual Development Account (IDA) is a matched savings account that enables families with limited financial resources to save and build assets.”
Nixyaawii Community Financial Services
Umatilla Saves Program
“Open to CTUIR tribal members to assist with saving and asset-building goals for homeownership. Umatilla Saves Program provides assistance with down payment and closing costs associated with a mortgage to purchase or for construction of a home within Umatilla and Union Counties.”
Umatilla Builds Site Development Program
“Open to CTUIR tribal members to assist with saving and asset-building goals for homeownership. Umatilla Builds Site Development Program offers financial assistance with developing a home site within the current boundaries of the Umatilla Reservation.”
Kôr Community Land Trust
CLT Home
“Kôr Community Land Trust uses HUD’s AMI Income Limits as a criterion for selecting prospective community buyers. Our objective is to build mixed-income communities, and hence we consider applicants whose household income ranges from 40-80% of AMI for Deschutes County. In select communities, we extend eligibility to prospective buyers with household incomes up to 120% of AMI.”
Workforce Housing Program
“Kôr serves Central Oregon’s workforce – those who can qualify for a mortgage but cannot afford to purchase a home on the rising market when their own wages remain stagnant.
To better meet the needs of our local workforce, Kôr Community Land Trust is partnering with the Bend Chamber of Commerce to pilot a Workforce Housing Program.”
Federal Home Loan Bank (FHLBank) Des Moines
States/Territories served: Alaska, American Samoa, Hawaii, Guam, Idaho, Northern Mariana Islands, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming
Home$tart Program
“Through our Home$tart program, eligible households may receive up to $7,500 in down payment and closing cost assistance. You must apply through a member institution.”
USDA Rural Development
Single Family Housing Direct Home Loans
“Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time.”
Habitat for Humanity
Habitat Home
“We believe that everyone should have a safe, affordable place to call home. To carry out our vision, we partner with individuals and families from application through construction to when the keys are handed over.”
Up next in our series, we will explore down payment assistance programs in Pennsylvania.
In this article:
Oregon Housing and Community Services
Community Connection of Northeast Oregon
Marion County Community Development
Springfield Development & Public Works
Clackamas County Development Agency
Grand Ronde Housing Department
Hacienda Community Development Corp.
Portland Community Reinvestment Initiatives
Nixyaawii Community Financial Services
Helpful Links:
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