Oregon Bond Residential Loan Program | Oregon Housing

Oregon Bond Residential Loan 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 varies (bond market rate) 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.

• Varies (bond market rate) 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.