There are subsidized loan programs that can save you money on your downpayment or lowering mortgage rates below the market rate. You’ll have a lower monthly payment and less interest payment over the length of your loan by using some of these programs.

Many of these loan programs are available through your city, county and/or state. Sometimes, it’s at a federal level like the 2008-2009 Homebuyer’s Tax Credit ($7500 and $8000). Locally available loan programs are typically limited and you need to meet certain qualifications. It is very important to find loan officers who have these programs available in their companies. Otherwise, you may not hear about it because the profit margins might be smaller than widely known loan programs.

The biggest challenge for First-Time Buyers is the initial savings for downpayment and closing costs. Make sure to research all available programs and compare to find the best suited loan program for your situation. It will save you money and set you apart to have a great start for your first home ownership.

Also, privately/conventionally offered “assistance programs” might look attractive, but those can be similar to predatory lending. So, get multiple loan estimates from different lenders, ask questions and fully understand before committing to a loan. If things don’t line up well, be ready to walk away.

If you are in Oregon, contact me and I’d be happy to connect you to loan officers who handle some of these programs.

Where To Find Below Market Mortgage in 2 Steps

  1. Search the following keywords:

2. Other Keyword to search: Homeownership assistance, home buying assistance, downpayment assistance.

Avoid all Sponsored (paid) links, .com sites. Stick to .GOV and .ORG sites. You’ll have better luck finding these programs.

More National links for home buyers

Native American Direct Loan:

Disability housing grants for Veterans:

More links for Oregon Home Buyers

Oregon Down Payment Assistance:

City of Beaverton:

City of Hillsboro:

Clackamas County:

Oregon Realtors:

Oregon Homebuyer Education by County:

African American Alliance for Homeownership (Clackamas, Multnomah, Washington):

Bend-Redmond Habitat for Humanity (Deschutes):

Bienestar (Washington County):

Columbia Cascade Housing Corporation (Hood River, Sherman, Wasco):

Community Action Programs of East Central Oregon (Gilliam, Morrow, Umatilla, Wheeler):

Community Connection of Northeast Oregon (Baker, Grant, Union, Wallowa):

Community in Action (Harney, Malheur):

DevNW (Benton, Clackamas, Lane, Lincoln, Linn, Marion, Polk):

Habitat for Humanity of Oregon (Benton, Clackamas, Columbia, Coos, Deschutes, Douglas, Hood River, Jackson, Josephine, Lane, Lincoln, Linn, Marion, Polk, Tillamook, Wasco, Washington, Yamhill):

Habitat for Humanity Portland Region(Clackamas, Multnomah, Washington):

Hacienda Community Development Corp (Clackamas, Multnomah, Washington):

Klamath Housing Authority (Klamath, Lake):

Kor Community Land Trust(Deschutes):

Native America Youth and Family Center (Clackamas, Multnomah, Washington):

Nixyaawii Community Financial Services (Umatilla, Umatilla Indian Reservation):

NeighborWorks Umpqua (Coos, Curry, Douglas, Josephine):

Portland Housing Center (Clackamas, Columbia, Multnomah, Washington, Yamhill):

Proud Ground (Clackamas, Jackson, Lincoln, Multnomah, Washington):

***Above links (updated Auguest 9th, 2023) providers are not affiliated with or vetted by Shawn Realty. Please compare many loan programs and check with your local Realtors as well. If you need assistance in finding a realtor in your area, we can help.