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Oregon FirstHome (Flex Lending)

Oregon Housing and Community Services offers FirstHome (Flex Lending) to first-time buyers in Oregon: as much as 5% of the mortgage, as a a loan that can be forgiven or repaid.

Amount
As much as 5% of the mortgage
Help type
A loan that can be forgiven or repaid
Only first-time buyers
The answer is yes, though exceptions exist

This Flex Lending second loan is forgivable or repayable: you either repay it in regular payments, or it's forgiven, with no payments or interest.

Keep the home and the first mortgage on it for the years the program requires, and the forgivable loan is written off.

With a repayable loan, you make a small second mortgage payment every month, usually combined with your main home loan payment.

Oregon FirstHome (Flex Lending): who qualifies?

  • The income limit is based on the area median family income HUD sets for your county.
  • Only first-time buyers qualify, but exceptions can apply.
  • You get it alongside an OHCS Flex Lending FirstHome mortgage loan, through a lender the program has approved.

Your county and household size set most limits. Try our HUD income limits tool to see the median income for your area and how your household compares.

Oregon FirstHome (Flex Lending) application steps

  1. Because Oregon Housing and Community Services sends this help through approved lenders, you apply with one of them alongside your mortgage.
  2. Before reserving the money for you, the lender checks your income and credit plus the home against the program's rules.
  3. At closing, the money goes toward your down payment and your closing costs.

For the complete rules and application status, visit Oregon Housing and Community Services's page for FirstHome (Flex Lending), or choose one of the agency's participating lenders.

Oregon FirstHome (Flex Lending) questions for a lender

Tell us where you're buying and a lender that works with Oregon's programs can tell you whether Oregon FirstHome (Flex Lending) fits you, and what you could combine with it.

Call 866-602-7460

Prefer not to phone? The lender will get in touch after you share your details.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

More Oregon programs for first-time buyers

Every Oregon first-time home buyer program · Down payment assistance in every state