Mortgage guidance · Licensed state
Mortgage broker serving Oregon
Michael DuBois is a mortgage broker serving eligible buyers and homeowners in Oregon, one of 14 states where he is licensed through Stonebridge Mortgage Inc. For first-time buyers, Oregon Housing and Community Services (OHCS) publishes a homeownership program worth checking before you commit to a financing plan.
Which Oregon first-time-buyer resource is available?
OHCS Down Payment Assistance (DPA) program is published by Oregon Housing and Community Services (OHCS). OHCS says its DPA program provides down-payment and closing-cost assistance to eligible first-time and/or first-generation homebuyers at or below 100% of area median income (AMI). Homebuyer education and a meeting with a certified housing counselor are required. The maximum is up to $60,000 or 20% of the purchase price, whichever is less, depending on the specific program and eligibility requirements; assistance may be a grant or forgivable second lien in some instances. OHCS says awarded organizations set specific requirements.
Program availability, rates and borrower eligibility change. Ask the agency or a participating lender to confirm the current rules for the property and your application.
How might Oregon property taxes affect the payment?
In Oregon, property taxes are set by and paid to the county assessor; the Oregon Department of Revenue says it is not the custodian of most residential property-tax records. Tax amounts and questions should be checked with the property’s county assessor.
Official references: Oregon property tax guidance
Get a property-specific estimate from the local assessor or tax office; a seller's existing bill might not reflect your future taxes.
What should a Oregon buyer know about closing costs?
OHCS says Flex Lending DPA may cover up to 100% of a borrower’s cash requirement to close, including down payment, closing costs, prepaid items, upfront borrower-paid mortgage insurance, and related loan fees and expenses. This is program information, not a promise that every borrower or transaction will receive that amount.
References: Oregon housing agency: closing costs
Review the Loan Estimate and Closing Disclosure for your actual numbers and any credits or assistance. Michael can help you ask the right questions while the lender and settlement provider confirm the figures.
Oregon mortgage questions
Can Oregon OHCS down-payment assistance help with closing costs?
Yes, potentially: OHCS says Flex Lending DPA may help cover the cash needed at closing, including closing charges and prepaid items. The program, assistance type, amount, and availability depend on the applicable requirements, so confirm them with an approved lender.
Where can Oregon buyers check first-time-buyer programs?
Start with Oregon Housing and Community Services (OHCS), then contact the OHCS-awarded organization serving the buyer’s county and a certified housing counselor. They can identify applicable first-time-buyer assistance and explain the required education and counseling steps.
How are property taxes handled in Oregon?
Oregon property taxes are handled locally through the county assessor. For a specific home, check with that county office for the property’s tax amount and related records; the state Department of Revenue generally does not maintain most residential property-tax records.
Which closing costs should a Oregon buyer plan for?
Plan for lender and settlement charges, prepaid items, any upfront borrower-paid mortgage insurance, and other loan-related expenses in addition to the down payment. An OHCS Flex Lending option may help address these cash-to-close items, but the lender should itemize what applies to the transaction.
Does the OHCS Down Payment Assistance (DPA) program guarantee assistance?
No. OHCS assistance is conditional rather than guaranteed: eligibility, the form of help, availability, and detailed requirements can vary by program and OHCS-awarded organization. A participating lender or local awarded organization must confirm whether a buyer receives assistance.