First Time Home Buyer Loan Program

Offered in Corvallis, Oregon, this program provides down payment and closing cost assistance to eligible applicants.

As the name suggests, this program is meant for first-time homebuyers, which means those who have not owned a house in the previous three years. However, if ownership of a house was lost as the result of a divorce, that applicant could still be eligible.

As much as $20,000 is offered as a 0% loan.

Like many other programs, this program has an annual household income limit. This limit is 80% of the area median income, or as shown below (as of 2020):

  • 1 person household: $45,850
  • 2 person household: $52,400
  • 3 person household: $58,950
  • 4 person household: $65,450
  • 5 person household: $70,700
  • 6 person household: $75,950
  • 7 person household: $81,200
  • 8 person household: $86,400

Applicants must also finish a homebuyer education program.

Other programs in Oregon:

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