Portland Housing Bureau DPA

Portland Housing Bureau DPA is a forgivable loan for homebuyers in Portland, Oregon. Portland Housing Bureau (PHB) Down Payment Assistance Loan (DPAL) offering up to $80,000 at 0% interest for first-time homebuyers purchasing in Portland. Includes 50% loan forgiveness after 15 years and a grant portion for home improvement. Up to $80,000 in down payment assistance. 0% interest rate with no monthly payments. 50% of the loan is forgiven after 15 years of owner-occupancy. remaining balance due upon sale, refinance, or transfer. must contribute minimum $500 toward purchase. Funding comes from Local Government.

Portland Housing Bureau DPA offers up to $80,000 in assistance. The program asks homebuyers to contribute $500. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Portland Housing Bureau DPA is forgiven after 15 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, No Longer Primary, and Transfer of Title. 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.

Portland Housing Bureau DPA is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: 3+ years since last home ownership. The program lists a minimum credit score of 620. A homebuyer education course is required. Residency requirement: No Requirement. Citizenship or immigration status: U.S. Citizen or Permanent Resident.

Portland Housing Bureau DPA limits household income to 100% of the area median income, which varies by county and household size. 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.

Portland Housing Bureau DPA caps the purchase price at $500,000. Eligible property types include Single Family, Condo, and Townhouse.

Portland Housing Bureau DPA serves homebuyers purchasing in Portland, Oregon.

Applications for Portland Housing Bureau DPA go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.