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Welcome Home Program

Gresham, Oregon

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Assistance

$40,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$489,000

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is Welcome Home Program?

Welcome Home Program is a deferred second loan for homebuyers in Gresham, Oregon.

  • The City of Gresham Welcome Home Program provides up to $50,000 as a 0% interest deferred-payment second mortgage for down payment and closing cost assistance to low- and moderate-income first-time homebuyers purchasing within City of Gresham limits. Repaid upon sale, refinance without subordination, or loss of owner-occupancy.
  • Up to $50,000 in down payment and closing cost assistance as a 0% interest deferred-payment second mortgage. Repaid upon sale, refinance without subordination, or loss of owner-occupancy. Maximum purchase price $489,000.
  • Funding comes from City, HOME, and CDBG.

How much assistance does it provide?

Welcome Home Program offers up to $40,000 in assistance.

  • Buyer contribution: Per first-mortgage program requirements.
  • 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.

Do you have to pay it back?

Welcome Home 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?

Welcome Home 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, Portland Housing Center, Hacienda CDC, etc.)
  • Residency: Property must be located within City of Gresham, OR
  • Citizenship or immigration status: U.S. citizen or qualified non-citizen
  • Pre-purchase homebuyer education required. Property must be located within City of Gresham limits. Maximum purchase price $489,000. Income limit 80% AMI ($66,100 for 1-person; $124,650 for 8-person, 2025 Portland MSA limits).

The program excludes

  • Manufactured homes
  • Purchases above the $489,000 price cap
  • Households above 80% 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?

Welcome Home Program limits household income to 80% of the area median income, which varies by county and household size.

  • Household income at or below 80% Portland-Vancouver-Hillsboro MSA AMI: 1-person $66,100; 4-person $94,400; 8-person $124,650 (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?

Welcome Home Program caps the purchase price at $489,000.

  • Eligible property types include 1-unit single-family, condominium, townhome, PUD.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Welcome Home Program serves buyers purchasing in Gresham, Oregon.

How do you apply?

Applications for Welcome Home 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, Portland Housing Center, Hacienda CDC, etc.).

  2. Contact the administering agency to reserve funds

    Funds are reserved through Application through City of Gresham Housing Division, 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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