The Oregon Bond is a homebuyer program that you NEED to know about.  A low interest rate is definitely one of the most sought after goals for homebuyers.  And in a our current financial climate, rising interest rates is the reality.

But here’s another reality from my mortgage lender perspective.  The majority of current homebuyers assume that their only option to find a low interest rate is to go to their big bank lender and take whatever market rate they are currently offering.

I am here to tell you that, as an Oregonian, you do indeed have another option.  The Oregon Bond.

Not All Lenders Are Created Equal

I write these blog posts to help educate as many buyers as possible.  Because the truth of the matter is, a lot of homebuyers are not receiving fair counsel from their lenders.  They’re not being told about all their options.

But why, you ask?

Because many of the homebuyer programs that I’ve discussed on here in the past, are specialized programs.  And these special programs usually require a lender to study and pass a test in order to become certified. Then as a certified lender, you will be able to offer these special programs.

That means that many (if not most) lenders in our area do NOT offer The Oregon Bond, which also explains why this may be the first time you’re hearing about it!

Features Of The Oregon Bond:

  •      •  For First-Time Homebuyers – OR – Anyone who hasn’t owned in the past 3 years
  •      •  In certain areas of Multnomah County, and a few other places outside of Portland, the first-time homebuyer requirement is waived!
  •      •  Available statewide
  •      •  Gives you a choice between these 2 options:

You can either choose the below market interest rate


You can opt for the cash advantage route, which can cover up to 2/3 of your closing costs, but comes with a slightly higher rate

  •      •  PLUS, The Oregon Bond is not credit score sensitive.  If you qualify for the program, then you WILL receive their lowest rate!
  •      •  And lastly, it can even be combined with any of these programs: FHA, Conventional, USDA 100% Financing, or MAP 100% Financing.  Now that’s seriously valuable.
Check out The Oregon Bond Website for more detailed information & their most updated rate.

A Word For The Wise

Remember…since only a small number of lenders in the Portland area offer The Oregon Bond, then you need to make sure you’re not taking advice on homebuyer programs from lenders who don’t offer it.

If your lender hasn’t told you about all the different homebuyer programs in the area…then it’s time for a 2nd opinion!

Taking advice from a lender that doesn’t offer specialized homebuyer programs, is a recipe for disaster.  It will almost inevitably end in you receiving misinformation.

To be fair, that lender’s misinformation is probably just based off of a lack of education about the program.  Not because they are trying to intentionally mislead you.  They may not know about the program, they may not have any updated information on it like the current interest rate it’s offering, or they may think it’s out of funds.

Regardless, the net result for the consumer is the same — being misinformed about a program that could potentially save them thousands of dollars.

Make sure you call an expert!

Take That First Step

The best place to start, and the only way to find out if this program is right for you, is by submitting a pre-approval application with us.

It’s fast, easy, and you never know…you may even qualify for more than one program.

Thanks for reading!  And I’ll see you next time.

Contact Vince Kingston