>
>
>
>
Local Oregon Down Payment Assistance
Local Down Payment Assistance Programs
Oregon Down Payment Assistance Local
Learn About Oregon Down Payment Assistance
The following mortgage down payment assistance programs were developed by local Oregon counties and municipalities. See more information about statewide Oregon down payment assistance programs.
Bend
Bend
Local Down Payment Assistance program available in Bend:
- Neighborhood Stabilization Program (NSP)
- Maximum interest-free loan of $35,000 or 20% of sales price (whichever is less)
- Deferred payment repayable upon payoff of first mortgage, sale of home or transfer of title
- Total Household Income cannot exceed 120% of the Area Median Income
- Buyer must contribute a minimum of 50% of the first mortgage lender’s down payment, and may not be less than $1,000 or 1% of the purchase price
Clackamas County
Clackamas County
Clackamas County offers the following Local Down Payment Assistance:
- Homebuyer Assistance Program (HAP)
- Maximum interest-free loan of $15,000
- Deferred loan forgiven after 10 years if the terms of the program are met
- Total Household Income cannot exceed 120% of the Area Median Income
- Buyer must contribute a minimum of $1,000 or 1% of the purchase price (whichever is less)
- Maximum allowable purchase price of $304,950
- Property must be located in the North Clackamas Revitalization Area (Includes area bounded by Monroe Street on the South; Clackamas/Multnomah county line on the North; 82nd Avenue/Interstate 205 to the East; and Milwaukie City limits on the West)
- Approved for use with FNMA, FHLMC, FHA, RD or VA first mortgages
- To qualify for down payment assistance in Oregon, buyers are required to complete an approved pre-purchase homebuyer training class.
Homebuyer Education
Corvallis
Corvallis
Corvallis offers the following Local Down Payment Assistance:
- First Time Home Buyer Program
- Maximum loan of $10,000
- Total Household Income cannot exceed 80% of the Area Median Income
- Maximum loan of $7,500
- Designed to offset permit fees and system development charges that are associated with new home construction
- Maximum loan of 20% of the sales price for first time homebuyers
- Buyer must contribute a minimum of 1% toward the purchase
- Cannot be used with FHA loans
- To qualify for the First Time Homebuyer Program, buyers are required to complete a homeownership education program through Williamette Neighborhood Services.
NewHome Buyer Assistance Program
Home Ownership Opportunity Program (HOOP)
Homebuyer Education
Medford
Medford
Local Down Payment Assistance program available in Medford:
- First Time Homebuyer Assistance Program
- Maximum loan of $15,000
- Total Household Income cannot exceed 80% of the Area Median Income
- Maximum of $50,000 for mortgage reduction, down payment and closing cost assistance
- Total Household Income cannot exceed 80% of the Area Median Income
- Property must be foreclosed and located in a targeted census tract in Medford
- To qualify for down payment assistance in Oregon, buyers are required to complete a HUD-certified homebuyer education class.
Neighborhood Stabilization Program (NSP)
Homebuyer Education
Portland
Portland
Portland offers the following Local Down Payment Assistance:
- Individual Development Account (IDA)
- Maximum assistance of $9,000
- Savings program that is matched 3:1 by the Portland Housing Center for use toward down payment and closing costs
- Total Household Income cannot exceed 80% of the Area Median Income
- Approved for use with Conventional and FHA first mortgages
- Maximum loan of $50,000
- 30-year fixed rate of 6.25%
- Immediate payment on this loan is required
- Additional fees include: 3% of second mortgage charge as loan processing fee (minimum of $500) and $289 in fixed fees
- Approved for use with FNMA and FHLMC first mortgages
- To qualify for the Oregon down payment assistance IDA program, buyers are required to complete a Financial Fitness class.
Low Interest Rate Down Payment Assistance (DPA)
Homebuyer Education
Springfield
Springfield
Local Down Payment Assistance program available in Springfield:
- Springfield Home Ownership Program (SHOP)
- Maximum interest-free loan of $10,000
- Deferred loan is forgiven if all terms of the program are met
- Buyer must contribute a minimum of $1,500 toward the purchase
- Maximum allowable purchase price cannot exceed $205,200
- Approved for use with FNMA, FHLMC, FHA, RD or VA first mortgages
- To qualify for Oregon down payment assistance, buyers are required to complete an an approved home ownership preparation seminar.
Homebuyer Education
Add a Comment
Portland, Oregon and Mt. Hood in the background
About Local Oregon Down Payment Assistance
Contact us today to receive a call from an expert Down Payment Assistance team member.
* = Required
Toll-Free 877 878 0100
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Copyright © 2011 Meridian Home Mortgage Corp. NMLS #56301. All rights reserved.
Meridian Home Mortgage Corporation NMLS #56301. Licensed by the Virginia State Corporation Commission #MC-3680; Commonwealth of Pennsylvania Department of Banking #21605; State of Maryland #8196; Connecticut Banking Commission #11930; Delaware Bank Commissioner #7885, District of Columbia MLB56301; Florida Office of Regulation MLD172; Massachusetts Division of Banks Broker #MB56301; Kentucky MB 72686; Washington CL-56301; Oregon ML-4979; Georgia Department of Banking and Finance #33346.
Loans are arranged through third parties. We arrange but do not make loans.
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074
Meridian Home Mortgage Corporation is located at 1363 N. Main St Hampstead, Maryland 21074