Oregon Bond Program Rate Advantage | Oregon Housing

Oregon Bond Program Rate Advantage 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 low interest rate option 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.

• Low interest rate option 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.