Are there any specific down payment assistance programs available in Oregon?

@hermina Yes, there are down payment assistance programs available in Oregon to help homebuyers, especially first-time buyers, with their down payment and closing costs. These programs are designed to make homeownership more accessible. Here are some examples of down payment assistance programs in Oregon:

1. Oregon Bond Residential Loan Program: This program offers below-market interest rates and cash assistance for down payment and closing costs. It is administered by the Oregon Housing and Community Services (OHCS).
2. Portland Housing Bureau Down Payment Assistance: The city of Portland provides down payment assistance to qualified homebuyers, particularly those purchasing within specific areas designated for assistance.
3. Oregon Statewide Down Payment Assistance Loan (DPA): This program provides a low-interest loan for down payment and closing costs. Borrowers must meet income and credit score requirements.
4. Homeownership Assistance Program (HAP): Offered by the Community Action Agency of Portland, HAP provides down payment and closing cost assistance to low to moderate-income homebuyers.
5. WISH Program: The Workforce Initiative Subsidy for Homeownership (WISH) program, offered by some participating banks, provides matching funds for qualified homebuyers. It is aimed at assisting low to moderate-income individuals and families.

It's important to note that eligibility criteria, income limits, and program availability may vary. Additionally, these programs often have specific requirements related to income, home location, and homebuyer education. Prospective homebuyers should contact the relevant agencies or lenders offering these programs for detailed information and to determine their eligibility.

Working with a local housing counseling agency or a mortgage professional can also provide valuable guidance on available down payment assistance programs in Oregon and help navigate the application process.