How much down payment do I need to buy a house in Oregon?

You can buy a home in Oregon with as little as 0% down (VA/USDA), 3% down ($14,550 conventional), or 3.5% down ($16,975 FHA) on the median-priced home of $485,000.

What income do I need to buy a home in Oregon?

To afford the median-priced home in Oregon ($485,000) with a 30-year mortgage at 6.22%, you typically need a household income of approximately $120,517 per year (using the 28% rule). The median income in Oregon is $70,084.

What is the FHA loan limit in Oregon for 2026?

The FHA loan limit in Oregon for 2026 is $517,500. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Oregon 2026

Q: What first-time home buyer programs are available in Oregon?

Oregon offers 2 major first-time buyer programs including Oregon Bond Residential Loan, Oregon Cash Advantage. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Oregon. 2+ down payment assistance programs, FHA loans from 6.02%, and step-by-step guidance.

Median Price

$485,000

Min Down (FHA)

$16,975

DPA Programs

Best Rate

6.02%

Check My Oregon Eligibility

What First-Time Buyer Programs Are Available in Oregon?

Oregon offers 2 major first-time home buyer assistance programs. These include Oregon Bond Residential Loan, Oregon Cash Advantage. Programs provide up to $15,000 in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Oregon?

You can buy a home in Oregon with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$16,975), and conventional loans start at 3% ($$14,550) on the median price of $485,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$2,898	620
USDA Loan	0%	$0	$2,977	640
Conventional 3%	3%	$14,550	$2,887	620
FHA Loan	3.5%	$16,975	$2,812	580
Conventional 20%	20%	$97,000	$2,381	620

Oregon Down Payment Assistance Programs

Oregon Bond Residential Loan

Below-market rates with DPA

Up to $15,000deferred

Oregon Cash Advantage

Cash grant for closing costs

Up to 3% of loangrant

5 Steps to Buy Your First Home in Oregon

To buy your first home in Oregon, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Oregon, you may need as little as $16,975 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Oregon rates: 6.22% (30-year), 6.02% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Oregon DPA Programs

Oregon has 2+ DPA programs. The Oregon Bond Residential Loan offers up to $15,000. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Oregon: Portland, Salem, Eugene, Gresham, Hillsboro. Median price is $485,000 (+3.2% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Oregon typically run 2-5% of the purchase price ($14,550-$24,250). Some DPA programs also cover closing costs.

Start Your Oregon Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Oregon First-Time Buyer FAQ

What first-time home buyer programs are available in Oregon?

Oregon offers 2 major programs: Oregon Bond Residential Loan, Oregon Cash Advantage. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.