2015 First Time Home Buyer Programs for Oregon CashAdvantage Program CashAdvantage Program gives you a low fixed interest rate, plus 3 percent of your loan amount as a non repayable gift toward your down payment or closing costs. The maximum purchase price varies by county. If borrowers utilize an FHA loan as part of this program, the 3 percent the program provides cannot be used to meet minimum down payment requirements. Qualified buyers in Oregon may apply. VA Loan Great fixed rate programs for veteran buyers or active duty military personnel in Army, Navy, Marine Corps, Air Force, Coast Guard, and National Guard (Military Reserve are eligible with 6 years of service) with no money down or down payment required or private mortgage insurance. There is a 620 minimum credit score. USDA Rural Development Loan The USDA Rural Development Loan is a zero down loan, meaning you can finance the entire price of the property. The biggest stipulation is that the property must be located in targeted rural area. Credit score minimum is 620. Seller can pay 6% of purchase price toward buyers closing closing costs. FHA Loan The FHA Loan has a low down payment of 3.5%. There is a minimum credit score of 580 and the entire down payment can be a gift, or from state assistance programs or grants. Lastly sellers can pay 6% of purchase price toward buyers closing. Oregon Down Payment Assistance Down payment assistance available in Oregon is through Habitat for Humanity. Oregon has several down payment assistance partners which offer assistance, but only in specific counties. Qualified buyers in Oregon may apply. RateAdvantage Home Loan RateAdvantage Home Loan gives you the lowest possible fixed interest rate, but no down payment or closing costs assistance. The maximum purchase price varies by county. Qualified buyers in Oregon may apply.
To apply visit http://buyerprograms.net/Oregon