Make your move possible
Eligible First-Time Homebuyer Program clients can access down payment assistance options through our housing counseling to help bring your first home purchase within reach.
Ways we can help
Individual Development Account (IDA)
Saving for a home takes time — and the right support. Through the Oregon IDA Initiative, qualified first-time homebuyers save in a special savings account for a minimum of three months and will have their savings matched at a rate of $5 for every $1 saved. Participants can receive up to $10,000 for their home purchase.
Down Payment Assistance Loans and Grants
Loans and grants may be available to eligible homebuyers, lowering your cash-to-close and, in some cases, eliminating private mortgage insurance. Some programs are loans that must be repaid over time, while others are deferred or forgiven if certain requirements are met. Grants may also be available in some cases and typically do not need to be paid back.
FAQ
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Down Payment Assistance availability changes regularly as we distribute funds, new programs become available, or as existing programs receive additional funding. Once you’re a registered client, you’ll connect with our HUD-Certified Housing Counselors to go over assistance availability and eligibility.
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After registration and your initial Homebuyer Assessment. Once you’re mortgage ready, your HUD-Certified Housing Counselor will walk you through your potential options and refer you to participating lenders. From there, you’ll get a pre-approval letter that confirms your eligibility for funds. Our down payment assistance programs vary widely in terms of eligibility depending on geographic restrictions, among other guidelines.
Attend a Homebuyer Info Session
Register for one of our monthly, virtual Info Sessions to get your questions answered and for more details about how to get started with Arrive. We’re here to walk you through every step, question, and challenge.