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HPOF Homeownership Program

Countywide, Oregon

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Income limit

60% AMI

Of area median income; varies by county and household size

Price cap

$316,236

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is HPOF Homeownership Program?

HPOF Homeownership Program is a deferred second loan for homebuyers in Countywide, Oregon.

  • Washington County's Homeownership Preservation Opportunity Fund (HPOF) provides up to $75,000 as a 0% interest deferred-payment second mortgage for down payment and closing costs to first-time homebuyers earning at or below 60% AMI. Administered by the Washington County Office of Community Development.
  • Homeownership Preservation Opportunity Fund (HPOF) provides up to $75,000 in down payment and closing cost assistance as a 0% interest deferred-payment second mortgage to very-low- and low-income first-time homebuyers in Washington County. Repaid upon sale, refinance without subordination, or loss of owner-occupancy.
  • Funding comes from County, HOME, and CDBG.

Do you have to pay it back?

HPOF Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Sale, transfer, refinance without subordination, or loss of owner-occupancy.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HPOF Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Typically 640 minimum FICO
  • A completed homebuyer education course, through HUD-approved housing counseling agencies (Proud Ground, NeighborImpact, etc.)
  • Residency: Property must be located within Washington County, OR
  • Citizenship or immigration status: U.S. citizen or qualified non-citizen
  • Pre-purchase homebuyer education required. Property must be located within Washington County. Income limits at 60% AMI. Borrower contribution of at least $1,000 of own funds. Maximum purchase price varies by HUD HOME limits ($159,753-$316,236 depending on dwelling size/type).

The program excludes

  • Purchases above the $316,236 price cap
  • Households above 60% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

HPOF Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

  • Household income at or below 60% AMI for Portland-Vancouver-Hillsboro MSA: 1-person $42,100; 4-person $60,150; 8-person $79,350 (2025).
  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

HPOF Homeownership Program caps the purchase price at $316,236.

  • Eligible property types include 1-unit single-family, condominium, townhome, PUD and some manufactured housing on owned land.
  • New construction is eligible.
  • Manufactured homes are eligible.

Where does it apply?

HPOF Homeownership Program serves buyers purchasing in Countywide, Oregon.

How do you apply?

Applications for HPOF Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling agencies (Proud Ground, NeighborImpact, etc.).

  2. Contact the administering agency to reserve funds

    Funds are reserved through Application through Washington County OCD, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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