Are you looking to buy a home in Deschutes, Jefferson or Crook County?

First Time Homebuyer Down Payment Assistance Program (DPA)

This program provides assistance to low-to-moderate income first time homebuyers. The loan amount is limited to a maximum of 20% of the sales price with a 30 year loan term.

To apply, applicants must first work with a mortgage lender to pre-qualify for a primary mortgage. The NeighborImpact DPA program works with your primary lender (also known as “first lender”) to provide a second loan for up to 20% of the purchase price.

 

Household Eligibility Requirements:

  • First-Time Buyer: A first time homebuyer is defined as a household that has not owned real property in the past 3 years.
  • Income Qualification: To be eligible for a DPA loan, borrowers’ income must be at or below the area median income based on family size for the County in which they reside (see the below table).
  • Owner-Occupancy: The borrower household must occupy the property after purchase, and retain residency during the life of the DPA loan.
  • Borrower Contribution: A minimum investment of 1% will be required from the borrower’s gifted or personal funds to be used for down payment and/or closing costs.
  • Credit Worthiness: Households shall have sufficient income and credit worthiness to qualify for primary financing from a conventional lender. Borrower’s debt and income level will be reviewed.
  • Home Buyer Education: All buyers receiving loans through the DPA program are required to participate in eight hours of home buying education. The borrower must receive a certificate of completion for homebuyer education prior to DPA loan closing. Click here to sign up.

 

2025 Down Payment Assistance Income Limits

 

Loan Limits and Terms:

  • Maximum Loan: The maximum loan under this program is 20% of the sales price.
  • Payment Plan: Repayments begin immediately after closing, with a fully amortizing loan payment consisting of principal and interest paid monthly.
  • Rate: The rate of DPA loans to be set by the Lending Committee. Rates are subject to review and change by Lending Committee at any time, however interest rate will not exceed 2% above the rate of the first mortgage on any given loan regardless of posted rate.
  • Term: up to 30 years and fully amortized.
  • Security: A promissory note and deed of trust will secure the loan.
  • Loan to Value: NeighborImpact will not allow financing to exceed 100% of the purchase price, although DPA does allow for the closing costs to be financed.
  • Fees: Vary, depending on funding source.

 

Eligible Loan Types

  • Down payment assistance loans can be used with conventional or government fixed-rate loans or adjustable-rate loans with no negative amortization.
  • The loan may be used with eligible first-time homebuyer and low-to-moderate income loan programs, such as the Oregon Bond Program.
  • DPA loans cannot be used with interest only loans.
  • To get started, email lending@neighborImpact.org or have your mortgage lender contact us directly.
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