Up To 7% Assistance - With The Portland Home Buyers Assistance Program!

The Portland Home Buyers Assistance Program is Portland’s newest and, possibly, most valuable buyer assistance program to ever come to the city!  That’s exactly why we think it deserves its own blog post. It’s a great chance to break down the details of the program for you.  We’ll be covering:

  • •  The different loan amount options
  • •  Where the program can be used
  • •  What kinds of properties it can be used on
  • •  Who is eligible


So without further ado, let’s jump into it.

The Loan Amount Options

There are four different loan amount options available.  You can choose between 4%, 5%, 6%, or 7% assistance of the loan amount – the choice is yours.  For the sake of clarity, I won’t be listing the interest & APR rates for each loan amount.  Weighing the pros and cons of the different loan amounts and interest rates should really be done on a case-by-case level.  Just keep in mind, the interest rates do increase incrementally as the amount of assistance goes up.  

That being said, interest rate should definitely NOT be the only factor you consider.  Retaining your savings, covering closing costs, and buying out mortgage insurance are all important factors that could ultimately outweigh the benefits of getting a slightly lower interest rate.  I’d love to talk it out with you, and help you make the best decision for your particular financial situation!

Where Can This Program Be Used?

This is an easy one.  Properties within the Portland city limits are currently eligible for this program.  Click on the map to the right to see a full-size version on PortlandOregon.gov.

There are whispers and hopes of expanding this home buyer program in the future.  But we can only speculate on that — for now it is exclusive to the city limits seen in the map.  We’ll update this post if/when that changes.

The Portland City Limits

What Kinds of Properties Are Eligible?

Here’s another great feature of this program, it can be used on multiple property types.  Some loan programs can only be used on single-family residences, some can only be used on ‘rural’ properties, etc.  However, the Portland home buyers assistance program can be used on any of the following property types:

  • •  Single-Family Residences
  • •  Condos
  • •  Townhouses
  • •  PUDs (Planned Unit Development)

With all of these being eligible properties, that means that a lot of opportunities have been opened up for a lot of different kinds of buyers.  From first-time home buyers looking for a townhouse in the heart of downtown…to growing families in need of an upgrade with more space…or for those ‘Empty Nesters’ that are ready to downsize into a single-story condo.  You’ll be spoiled for choice.

Who Is Eligible?

In short, a lot of people in a lot of different financial situations will be eligible for the program.  That being said, eligibility is a topic that is best handled on a case-by-case basis. Until that time, here are a few bullet points to help summarize the main eligibility requirements.

  • •  There is NO first-time home buyer requirement.
  • •  You just can’t own another property at closing. Concurrent closings are okay.
  • •  Income limits are higher than many other programs
  • •  AND those income limits apply to ‘Applicant & Qualifying Income’ only!


Submit a pre-approval application with us; it’s the best way to determine your eligibility.

That’s where we’ll stop for now.  But just know, this is only the first installment of the two-part blog post series, dedicated to this program.

In Part 2, we’ll be discussing different ways the Portland Home Buyers Assistance Program can provide you with real, measurable value.  We’ll give you real world examples from clients we’ve worked with, and show you how using down payment assistance can open up a plethora of opportunities for you; now and in your home buying future.

Thanks for reading,

See ya next time!

Contact Vince Kingston