Down Payment Assistance Programs for First Time Home Buyers in Crook County, Oregon
If you live in Oregon and are interested in buying a home in Crook County – there may be down payment assistance programs available to you. Saving enough money for a down payment is one of the single biggest obstacles to homeownership – but it is entirely possible that down payment assistance is available to you and you aren’t even aware of it.
What is Down Payment Assistance?
It is any kind of program that is designed to help people get into a home. That may be a very broad definition, but down payment assistance programs are not always programs that hand out free money by giving you cash in a suitcase – they can take many different forms. Some examples of the different types of down payment assistance programs that may be available include: Grants, Silent Seconds, Delayed Repayment Loans, Interest Free Loans, and Lender Specific Programs. Since there are so many different types of programs that may be available – it is advised that you find the right loan officer who is knowledgeable in programs in your area.
Down Payment Assistance Programs in Crook County, Oregon
- Oregon Bankers Association HOME Sweet Home Program: In spring 2010, the Oregon Bankers Association and the Oregon Association of REALTORS® (OAR) partnered to create the HOME Sweet Home Program (HSHP). Initial funding for this program was provided by a grant from the Ira Gribin Workforce Housing Grants Program, a fund established by the National Association of REALTORS® (NAR) to stimulate efforts to address the growing need for affordable workforce housing. For more information, Click here.
- National Homebuyers Fund – Platinum Program: The home buying process can be very intimidating to both first-time and previous homeowners. In addition, there’s also a fairly common misconception that a down payment of 10 or 20 percent is absolutely necessary in order to purchase a home. For more information, Click here.
- Neighborhood Partnerships Oregon IDA Initiative Matched Savings Program: Matched-savings accounts are powerful asset-building opportunities that help people living on a low income to gain economic security and achieve their dreams. For more information, Click here.
Mortgage Programs Available in Crook County, Oregon
- Oregon Housing and Community Services – CashAdvantage Homebuyer Program: OHCS periodically issues mortgage revenue bonds to fund lower than market interest rate mortgage loans to help Oregon households buy their first home. Our Residential Loan Program, also known as the “Oregon Bond Loan”, provides below-market rates helping eligible families increase their home purchasing power and keep their monthly house payments affordable. For more information, Click here.
- Oregon Department of Veteran Affairs – Veteran Home Loan Program: If you have an honorable discharge, served more than 210 consecutive days of active duty and are within 30 years of leaving the service, you may be eligible for an Oregon Department of Veterans’ Affairs (ODVA) ORVET Home Loan! For more information, Click here.
Additional Home Buying Resources
HUD offers some resources to those people who are interested in learning more about the process of buying a home, and the information on HUD’s website is free. Just a few of the services that HUD offers information about include: housing counseling agencies, predatory lending, education, assistance programs, HUD homes for sale, homeownership vouchers, home repairs, avoiding foreclosure, making your home more energy efficient, and more.
Other Relevant Crook County Sites
- Oregon Association of Realtors
- Crook County School
- Crook County Sheriffs
- HUD Homeownership Assistance for Oregon