The City of Salem offers a number of services to address the community’s housing needs, including rehabilitating our current housing stock, developing new housing opportunities, assisting families to acquire housing, and enabling struggling families to remain in their homes.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

City of Salem First-Time Homebuyer Downpayment Assistance Loan Program (FTHB)

Financial Assistance for Homebuyers in Oregon

The City of Salem offers a number of services to address the community’s housing needs, including rehabilitating our current housing stock, developing new housing opportunities, assisting families to acquire housing, and enabling struggling families to remain in their homes. One of these services is the First-Time Homebuyer Downpayment Assistance Loan Program (FTHB).

Available Assistance 
No-interest, deferred payment loans to first-time homebuyers to use toward the down payment and closing costs on a condo, single-family or multi-family home (2-4 units). Repayment of the loan, in full, is due upon sale or transfer of the property or if you cease to occupy the property as your permanent residence. 

The FTHB Program will match your down payment up to $6,500. Applicants who complete a CHAPA-certified homebuyer counseling course prior to the loan closing are eligible for an additional $1,000 in matching funds, for a total of $7,500 in down payment assistance. A link to available courses is on the City. 

Income Limits
1-person household: $70,750  
2-person household: $80,850  
3-person household: $90,950  
4-person household: $101,050  
5-person household: $109,150  
6-person household: $117,250 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but State and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.           

  

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information 

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Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Oregon

The Down Payment Assistance Loan (DPAL) is designed with favorable terms to help first-time homebuyers purchase a home within the city limits of Portland.

The City of Salem offers a number of services to address the community’s housing needs, including rehabilitating our current housing stock, developing new housing opportunities, assisting families to acquire housing, and enabling struggling families to remain in their homes.

Willamette Neighborhood Housing Services (WNHS), along with other organizations, aim to help individuals overcome the hurdles of homeownership by providing a combination of homebuyer education courses, counseling and financial assistance.

 The First Time Home Buyer Program assists individuals overcome the hurdle of these upfront costs with zero-interest  down payment/closing cost loans of up to $20,000 for low-income, first-time homebuyers purchasing within the City of Corvallis.

The Rogue Valley Association of Realtors (RVAR) together with the Oregon Association of Realtors (OAR) funds the HOME Foundation Buyers Assistance Grant. The program offers eligible homebuyers up to $1,000 to be used toward down payment, closing costs, or prepaid items.

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