Oregon FirstHome (Flex Lending)
Oregon Housing and Community Services offers FirstHome (Flex Lending) to first-time buyers in Oregon: up to 5% of the home loan, as a forgivable or repayable loan.
- Amount
- Up to 5% of the home loan
- Kind of help
- Forgivable or repayable loan
- First-time buyers only
- Yes, with exceptions
How is Oregon FirstHome (Flex Lending) paid back?
Forgivable or repayable loan: a Flex Lending second loan: either forgiven, with no payments and no interest, or repaid in regular payments.
A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.
A repayable loan is a small second mortgage you pay off each month, usually in the same payment as your main home loan.
Who qualifies for Oregon FirstHome (Flex Lending)?
- Income limit uses your county's area median family income, as set by HUD.
- First-time buyers only: yes, with exceptions.
- It comes with the FirstHome mortgage loan from OHCS Flex Lending, through an approved lender.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Oregon FirstHome (Flex Lending)
- Oregon Housing and Community Services pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Oregon Housing and Community Services's page for FirstHome (Flex Lending), or pick a lender from the agency's list of participating lenders.
Ask a lender about Oregon FirstHome (Flex Lending)
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.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Oregon
- Oregon Down Payment Assistance (DPA) program: up to 20% of the price, at most $60,000, grant or forgivable loan.
- Oregon Home Ownership Assistance Program (HOAP) / Veteran DPA: up to $60,000, grant.
- Oregon NextStep (Flex Lending): up to 5%, forgivable or repayable loan.
All Oregon first-time home buyer programs · Down payment assistance in every state