10Jul
Buying your first home in Oregon? You’re not alone—and you’re not without support. In 2025, a variety of programs will be available to help first-time buyers in Oregon overcome common hurdles like down payments, closing costs, and loan qualification. Whether you’re eyeing Portland, Bend, Eugene, or smaller communities across the state, understanding your options could save you thousands and accelerate your path to homeownership.
Here’s a breakdown of the most helpful first-time homebuyer grants and programs available across Oregon.
1. Oregon Bond Residential Loan Program (Oregon Housing and Community Services)
The Oregon Bond Program remains one of the state’s most powerful tools for first-time buyers. It offers below-market interest rates and cash assistance to help with down payments or closing costs.Program Highlights:
- Available to first-time homebuyers and veterans
- Offers two loan options:
- Rate Advantage: lowest fixed interest rate available
- Cash Advantage: 3% cash assistance toward closing/down payment
- Rate Advantage: lowest fixed interest rate available
- Income and purchase price limits apply by county
Why it matters:
This program lowers the upfront cost of buying, making ownership more accessible even if you haven’t saved a large down payment.
2. Portland Housing Bureau’s First-Time Homebuyer Programs
If you're buying in Portland, you're in luck. The city’s housing bureau offers several resources:
- Down Payment Assistance Loan (DPAL): Offers up to $80,000 in down payment help for eligible buyers.
- Home Purchase Assistance Program (HPAP): Provides education and financial counseling in addition to financial support.
These are designed for income-qualified buyers and prioritize longtime renters, people of color, and residents displaced by gentrification.
3. USDA and VA Loans for Rural and Veteran Buyers
While not exclusive to Oregon, USDA Rural Development loans and VA loans are powerful tools for eligible buyers:
- USDA Loans: No down payment, low interest, and for homes in qualified rural areas (many outside the Portland metro qualify).
- VA Loans: For veterans and active service members, offers zero down, no private mortgage insurance, and competitive rates.
Tip: Even parts of Washington and Clackamas Counties are USDA-eligible—check your dream neighborhood online before ruling this out.
4. Oregon Local Credit Union & Bank Grant Programs
Many Oregon-based credit unions (like OnPoint, Advantis, and SELCO) offer their own first-time buyer packages:
- Grant matching (e.g., match $2,000 in savings)
- Free homebuyer workshops
- Reduced loan fees or special rate offers
These programs often fly under the radar, but local lenders can offer more flexibility and personalized underwriting than national banks.
5. Federal Programs Accessible to Oregon Buyers
These aren’t Oregon-exclusive, but Oregon first-time buyers often use them:
- FHA Loans: Lower credit score and down payment requirements (as low as 3.5%)
- Fannie Mae HomeReady® and Freddie Mac Home Possible®: Designed for low- to moderate-income buyers with reduced mortgage insurance
- Good Neighbor Next Door: 50% off eligible homes for teachers, firefighters, and EMTs
Eligibility & Preparation Tips
- Most programs require a homebuyer education course—many are free and offered online.
- Credit scores of 620+ are generally needed, though some lenders can work with lower.
- Household income and home price caps vary by county, so check the latest guidelines before applying.
Final Thoughts
Buying your first home in Oregon doesn’t have to feel overwhelming. These programs exist to help you succeed, and they’re updated yearly. If you’re thinking about buying in 2025, take advantage of the resources that reduce financial barriers, connect you with expert advice, and set you up for long-term success.
Need help exploring which option fits you best? A local real estate agent or mortgage advisor familiar with Oregon’s programs can help you compare, qualify, and make a confident move.
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