Oregon is a state in the Pacific Northwest region of the United States. The state lies on the Pacific coast between Washington on the north and California and Nevada on the south; Idaho lies to the east. The Columbia and Snake rivers form much of its northern and eastern boundaries, respectively. The valley of the Willamette River in western Oregon is the most densely populated and agriculturally productive region of the state.
Oregon has one of the most diverse landscapes of any state in the U.S. It is well known for its tall, dense forests that stretch a third of the way across the state in the north and halfway across the state in the south; its accessible and scenic Pacific coastline; and its rugged, glaciated Cascade volcanoes. Other areas include semiarid scrublands, prairies, and deserts that cover approximately half the state in eastern and north-central Oregon, and sparser pine forests in the northeast.
FHA Home Loan
FHA loan will allow you to purchase a home with a low down payment and with no income limits or credit scoring.
Oregon Housing Market
Oregon Home Ownership
American Dream Down Payment Initiative
The American Dream Down Payment program was implemented in early Fall 2004 and will provide lowincome households with down payment and closing cost assistance in order to close a Purchase Assistance Loan (PAL) with the Department. The program will do targeted outreach to public housing authority agencies and residents of manufactured home parks.
Home Ownership Assistance Program
The Home Ownership Assistance Program provides grants to organizations that use the funds, in conjunction with other resources, to assist low- and very low income Oregon households to purchase a home. Homeownership may be achieved for participating program households through lease-to-own programs, construction of new housing, or acquisition of existing housing, with or without rehabilitation. Program funding provides eligible homebuyers with assistance with the down payment, closing costs, or other means to make ownership feasible, as well as to assure home ownership education.
Homebuyer Program
The Residential Loan Program is a below-market-rate home loan program made possible through the sale of tax-exempt mortgage revenue bonds. Working through a broad network of lenders and over 400 loan officers, the program strives to help first-time homebuyers who meet certain income restrictions by offering attractive interest rates, usually .75 percent to one percent below the market rate, and assistance for down-payment and/or closing costs.Affordable Housing Development
The Housing Development Account (HDA) is a pass-through account for activities designed to create affordable housing opportunities through the use of funding generated by the Department’s bond and tax credit programs.
Alcohol and Drug Free Housing
ADF housing funds through the Office of Mental Health and Addiction Services (OMHAS) provide grants of up to $200,000 for the construction of new housing or rehabilitation of existing structures. Designated units must serve those at 30 percent or below the area median income.
Farmworker Housing Development Program
The Farmworker Housing Development Account was created in 2001 to expand the state’s supply of housing for low and very low-income farmworkers. It is designed to provide grants or loans to construct new housing or to acquire and rehabilitate existing structures.
Farmworker Housing Tax Credit Program
The Farmworker Housing Tax Credit Program gives a state income tax credit to owners who incur costs to construct, install or rehabilitate farm worker housing.
HELP Program
The HELP Program is a grant program that provides financial assistance to housing developments for very-low-income families or individuals. Funds for this program come from HUD under the McKinney Homeless Assistance Act.
HOME Investment Partnerships Program
The HOME Investment Partnerships Program provides federal funds for the development of affordable housing for low- and very-low-income households. Eligible activities under the state’s program include acquisition, new construction, and rehabilitation of multifamily rental housing.
Housing Development Grant Program
The Housing Development Grant Program provides grants and loans to construct new housing, or to acquire and/or rehabilitate existing structures, effectively expanding the supply of housing for lowand very-low-income families and individuals. This program encourages leveraging of state grant dollars with other public and private sources.
Low Income Housing Tax Credit Program The Low Income Housing Tax Credit Program provides federal income tax credits to developers who construct, rehabilitate, or acquire and rehabilitate qualified lowincome rental housing. These development projects encompass multi-family units, and Rural Development housing developments.
Low Income Weatherization Program
The Low Income Weatherization Program provides funds for installing weatherization measures in rehabilitation or new construction of projects. Funds can be used to increase the efficiency of heating and other uses of energy in multi-family housing through the installation of energy efficient insulation, windows, appliances, light fixtures, and other energy-reducing activities.
Oregon Affordable Housing Tax Credit Program
The Oregon Affordable Housing Tax Credit Program provides a state income tax credit for affordable housing loans. Lenders reduce the interest rate to affordable housing sponsors by up to 4 percent.
