Oregon First-Time Home Buyer: 2025 Programs and Grants
Oregon First-Time Home Buyer Guide: 2025 Programs, Grants & Assistance
Buying your first home in Oregon? You're not alone in feeling a bit overwhelmed — especially with prices being what they are. But don’t let that stop you. There’s a wide range of programs and resources available across the state designed specifically to help first-time buyers get into a home — and many of them offer real financial support.
Here’s what you need to know about becoming a homeowner in Oregon in 2025.
🏠 Oregon Housing Market at a Glance
As of April 2025, the median home sale price in Oregon sits at $517,300 (Redfin). That’s above the national average and can make saving for a down payment feel daunting — especially for first-time buyers. Fortunately, Oregon offers several programs to ease the financial burden.
Key Stats:
Average Listing Price: $517,300
3% Down Payment: $15,519
20% Down Payment: $103,460
Average Credit Score (OR): 732
Max Grant (Portland): Up to $100,000 (forgivable second loan)
💸 Oregon First-Time Buyer Loan Options
You don’t need a 20% down payment to buy a home. In fact, many first-time buyers qualify for low- or no-down-payment mortgage programs:
Conventional 97: Just 3% down with a 620+ credit score. Mortgage insurance drops off once you reach 20% equity.
FHA Loan: 3.5% down with a credit score of 580+. Mortgage insurance applies for the life of the loan unless you refinance.
VA Loan: No down payment and no ongoing mortgage insurance for eligible veterans and service members.
USDA Loan: No down payment required in rural areas for low-to-moderate income buyers.
OHCS Loan (Oregon Housing & Community Services): Competitive rates and can be paired with down payment assistance programs.
🏡 Statewide First-Time Home Buyer Programs
Oregon Housing and Community Services (OHCS) offers two key programs through its Residential Loan Program:
Cash Advantage: Offers competitive interest rates and 3% of the loan amount toward closing costs.
Rate Advantage: Prioritizes a lower interest rate and monthly payment, making it easier to afford a higher-priced home.
To qualify, you must:
Be a first-time homebuyer
Work with an OHCS-approved lender
Meet income and purchase price limits
Take a homebuyer education course and work with a housing counselor
💰 Down Payment Assistance & Grants
First-time homebuyers in Oregon may qualify for assistance covering down payments and/or closing costs. Here are a few options:
OHCS Down Payment Assistance
This program is available to buyers who complete an education course and coaching. Assistance may be offered as a loan or grant — specifics vary by program, so it’s important to consult with a counselor or lender to understand repayment terms.
First-Time Home Buyer Savings Account
Offered by the Oregon Department of Revenue, this tax-advantaged savings account allows you to deduct deposits and earnings from taxable income for up to 10 years. Funds can go toward:
Down payment
Closing costs
Realtor commissions
Home appraisal fees
🌆 Buying in Oregon’s Major Cities
Portland
Median List Price: $545,000
3% Down Payment: ~$16,350
Down Payment Assistance: Up to $100,000 available through the City of Portland as a 0% interest, 30-year second mortgage (partial forgiveness begins at year 15; fully forgiven by year 30 if all terms are met)
Pro Tip: Many cities and counties across Oregon offer their own localized assistance programs — often with better terms than statewide options. Be sure to explore what’s available in your area.
📍 Local Resources & Where to Get Help
Statewide Organizations:
City & County Programs:
Portland Housing Bureau
Clackamas County Homebuyer Assistance
Bend, Corvallis, Medford, Springfield DPA programs
For a full list of county-specific programs, visit Oregon Realtors' DPA Directory.
Ready to Take the Next Step?
Buying your first home in Oregon may be more achievable than you think — especially with the right resources and guidance. From statewide loan programs to local down payment assistance, there’s help available at every step of your journey.
The original article can be found at “https://themortgagereports.com/85267/oregon-first-time-home-buyer-programs-grants”