Oregon Flex Down Payment Assistance

We are proud to offer Oregon Flex, the down payment assistance program operated by Oregon Housing and Community Services (OHCS) — the same agency that ran the long-standing Oregon Bond Loan program. Oregon Flex offers two products: FirstHome, designed for first-time buyers, and NextStep, available to repeat buyers who meet the program criteria.

Each pairs a standard first mortgage with state-backed down payment assistance, so many Oregon buyers can get into a home without needing years of savings first. We handle the entire process for you — application, qualification, and closing — while the state provides the down payment assistance in the background. You work with us start to finish.

Fast facts

• Program operator: Oregon Housing and Community Services (OHCS) — formerly known as the Oregon Bond Loan program.
• Products: FirstHome for first-time buyers; NextStep for qualifying repeat buyers.
• Typical minimum credit score: Follows the FHA, conventional, VA, or USDA first mortgage we pair it with.
• Down payment assistance: The state provides a repayable grant covering roughly 4 to 5 percent of your loan amount, applied toward your down payment and sometimes part of closing costs.
• Forgivable assistance: In some cases the grant can be partially or fully forgivable depending on household income, the area you are buying in, and other program eligibility factors. We work through this with you upfront.
• Property types: Owner-occupied homes in Oregon that meet the rules of the underlying first mortgage program.
• Manufactured homes: No single wides. Double wides built in or after 1976 may be allowed on certain program and property combinations.
• Rate types and terms: The first mortgage is usually a 30-year fixed. Rates and structure are set by OHCS, not the general market — we walk through that with you in plain language.

Best fit for you if

• Your income supports the payment but saving a full down payment is taking longer than you want.
• You are a first-time buyer (FirstHome) or a repeat buyer who meets the program rules (NextStep).
• You want to know whether the assistance in your area and income range could be forgivable.
• You want to buy now and see how the numbers compare against waiting and saving.

Big perks

• Backed by OHCS — an established state agency with a long track record through the Oregon Bond program.
• Works with FHA, conventional, VA, or USDA loans for the main mortgage.
• Two products — FirstHome and NextStep — cover a wider range of buyers than most people expect.
• Forgivable assistance options exist for qualifying buyers in certain areas and income brackets.
• Several county and income combinations exist — we match the right structure to your situation.

Keep in mind

• The assistance is a repayable grant. Forgivability depends on your specific income, household, and area — we verify this before assuming.
• Rates and terms are set by OHCS and change over time.
• There are income limits and sometimes purchase price limits by county.
• Debt-to-income limits on Flex are slightly tighter than a standard file, but the underlying loan program rules still apply once you qualify.
• We always show you how a Flex setup compares to a standard low down payment FHA or conventional so you can see which makes more sense on paper.