Home buying classes help first-time homebuyers learn the basics about the home buying process.

They are taught online or in a classroom setting by experienced professionals who specialize in helping first-time homebuyers.  Here are some links to classes listed by Oregon Counties.  Contact for more info and schedules.

When program funds are awarded to qualified local organizations, they will be able to create, continue and expand their existing down payment assistance programs. Homebuyers, who have completed a homeownership education program, may qualify for up to $15,000.00 for down payment and/or closing costs. 

The awards are funded by the state's document recording fee, which are used to expand the state's supply of homeownership housing for low-and very low-income families and individuals, with particular focus on underserved populations.

Program Overview
OHCS periodically issues mortgage revenue bonds to fund lower than market interest rate mortgage loans to help Oregon households buy their first home. Our Oregon Bond Residential Loan Program, provides below-market rates helping eligible families increase their home purchasing power and keep their monthly house payments affordable.

Two Loan Options
The Program offers eligible borrowers a choice between cash (closing cost assistance) or our best rate. For both loan options, the eligibility and program requirements are the same.;

Cash Advantage
Borrowers will get a low fixed interest rate on their home loan along with cash assistance equal to 3% of their loan amount. The cash assistance will help reduce the total closing costs needed to purchase the home. Cash Advantage funds cannot be used for the minimum investment required for an FHA Loan.

Rate Advantage
Eligible borrowers will get the lowest fixed rate possible to maximize their home purchasing power with an affordable payment.

Neighborhood Stabilization Program

The Neighborhood Stabilization Program was developed by the U.S. Department of Housing and Urban Development (HUD) as a response to the proliferation of residential foreclosures that have adversely affected the housing market and greater economy over the last few years. The program is currently in Pha​se 3​ of three phases;

NSP-1
NSP-1 was created under Federal Legislation known as the "Housing and Economy Recovery Act of 2008" (HERA). OHCS was awarded $19,600,000; of this, $4,900,000 was set aside; these funds were allocated to various cities, counties, non-profit developers and housing authorities. In September 2010, 100% of the NSP-1 funds were pledged by our Sub-Grantee Partners in the eligible target areas assisting income eligible households at or below 50% AMI and no higher than 120% AMI.

NSP-2
NSP-2 was created under Federal Legislation known as the "American Reinvestment and Recovery Act of 2009" (ARRA). OHCS, as the lead member and the City of Bend and Medford along with the County of Clackamas and Washington applied for funds as a Consortium. This was done on a competitive basis, submitted to HUD Headquarters in Washington DC. OHCS and the Consortium members were awarded $6,829,635 in NSP-2 funds, of this OHCS set aside $1,707,158 for households with an income level of 50% or below AMI. The Consortium members pledged 100% of the award in February 2013.

NSP-3
NSP-3 was created under the Federal Legislation known as the "Dodd-Frank Wall Street Reform Act". OHCS was awarded $5,000,000, of this $1,250,000 was set aside for households with an income level of 50% or below AMI. OHCS Sub-Grantee Partners were able to pledge the amount of the award in April 2014. NSP-3 had only five (5) Sub-Grantee Partners receiving funds, as the program slowed down.

How To Learn More and Apply
To apply, simply contact some Local Lenders, and they will assist you in getting pre-qualified for one of our home loans.​

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