Oregon Affordable Housing Tax Credit Program | Oregon Hou...

Oregon Affordable Housing Tax Credit Program is managed by Oregon Housing and Community Services (OHCS) or a

partnering city housing bureau to expand access to safe, affordable housing across Oregon. Qualifying

households may receive up to 4% interest-rate reduction plus fixed‑rate first mortgages, homebuyer education,

and post‑purchase counseling. The program layers with FHA, VA, USDA, and conventional products and can pair

with the Oregon Affordable Housing Tax Credit for significant interest‑rate reductions. Income and

purchase‑price limits align with HUD Area Median Income guidelines and are updated annually. Properties

must be primary residences and meet OHCS minimum property standards. Certain assistance loans are forgiven

after a required occupancy period. Funds are reserved through an OHCS‑approved lender network and disbursed at

closing to reduce out‑of‑pocket costs.

• Household income ≤ OHCS limits for county and family size.

• Purchase price (or after‑rehab value) ≤ OHCS/city cap for property location.

• Minimum 640 credit score (higher for conventional products); DTI ≤ 45 %.

• Completion of HUD‑approved homebuyer education prior to closing.

• Property must be a 1‑4 unit primary residence, condo, or manufactured home on permanent foundation.

• Up to 4% interest-rate reduction for down payment, closing costs, rehab, or principal reduction.

• 30‑year fixed‑rate mortgage with interest often below market.

• May combine with Oregon Affordable Housing Tax Credit for further interest savings.

• Free foreclosure‑prevention counseling statewide.

1. Review state or city income and purchase‑price charts on the OHCS website.

2. Obtain pre‑approval from an OHCS‑participating lender and reserve program funds.

3. Complete HUD‑approved homebuyer education online or in person.

4. Sign a purchase contract; lender finalizes underwriting and locks rate.

5. Attend closing; assistance funds are wired to cover eligible costs. Occupy home within 60 days.