Oregon Bond FAQ

Oregon offers a great down payment assistance option, the Oregon Bond program, for homebuyers looking to purchase in the Portland metro area and beyond. This FAQ is by no means comprehensive, so you should absolutely reach out to our team for questions about your individual situation. Here are our top five frequently asked questions about the Oregon Bond program.

Question 1: How much money is available?

The Oregon Bond has two options: one is a lower interest rate and no money toward your down payment, while the other is a higher interest rate and up to 3% of the loan amount to cover closing costs. This money for closing costs does not have to be repaid.

Question 2: Is there a maximum loan amount?

Yes. The maximum loan amounts vary by county and can be seen here.

Question 3: Are there income limitations?

Yes, in most areas of the state. The limitations can be seen here.

Question 4: Do you have to be a first-time homebuyer?

No, if you buy in a target area. Otherwise, you must not have owned and occupied a primary residence during the three-year period prior to signing your new mortgage to be considered a first-time homebuyer.

Question 5: Where can you buy a home?

Anywhere in Oregon.

Thank you for the lovely complete information that will be helpful to so many! Hope you are doing well!!

Thanks for your comment, Tom!

Good info. Easy to understand and pass on to Buyers. Thank you.