Oregon Home Loans 2026 — Complete Guide
Oregon offers up to $60,000 in OHCS down payment assistance, plus why its Measure 50 tax cap carries over to buyers instead of resetting at sale.
The number people miss: Unlike states such as Michigan or California, Oregon's Measure 50 assessed value does not reset when a home is sold. The buyer inherits the seller's existing capped assessed value, and the 3% annual growth limit continues uninterrupted — a genuine advantage that most buyers don't realize until after closing.
Oregon Down Payment Assistance — OHCS Programs
Oregon Housing and Community Services (OHCS) funds down payment assistance primarily by distributing money competitively to local partner organizations across the state, rather than running one single statewide program with a fixed amount.
OHCS Down Payment Assistance
Your actual amount depends heavily on where you buy: OHCS distributes these funds to local nonprofits and housing organizations, each running its own version of the program with different amounts, terms, and forgiveness structures within the state's overall ceiling. In 2024, the statewide average award was around $28,315 — well under the $60,000 maximum. Confirm what your specific local partner organization offers rather than assuming the statewide ceiling applies to you.
OHCS Flex Lending pairs with local DPA: The FirstHome loan serves buyers who haven't owned in the past three years, while NextStep allows higher income limits and is open to buyers who have owned before. Both are below-market-rate first mortgages designed to pair with a local DPA program.
Portland-specific options: Beyond OHCS, Portland buyers can access the city's own Down Payment Assistance Loan (DPAL, up to $80,000, or $100,000 in targeted areas) and Rocket Mortgage's ONE+ program (up to $7,000 as a true grant). Gresham's WELCOME HOME program offers $10,000-$40,000 forgiven over 15 years. These local programs often have different terms than the statewide OHCS options.
Current Rates
| Product | Rate | Source |
|---|---|---|
| 30-yr Conventional | 6.55% | Freddie Mac PMMS, week of July 16, 2026 |
| 15-yr Fixed | 5.93% | Freddie Mac PMMS, week of July 16, 2026 |
| OHCS Flex Lending first mortgage | Below market | Confirm current rate with an OHCS-approved lender |
2026 Loan Limits by County
Portland-metro counties carry an elevated FHA limit reflecting the area's higher home values. The conforming (conventional) limit stays flat statewide.
| Loan Type | Standard Counties | Portland Metro (Multnomah, Clackamas, Washington & others) |
|---|---|---|
| FHA | $541,287 | Up to $762,450 |
| Conventional (Conforming) | $832,750 statewide — flat, no high-cost counties | |
| VA | No county limit for buyers with full entitlement | |
Verify your exact county's FHA limit at HUD.gov before house-hunting.
Property Tax in Oregon — Measure 50 Explained
What Buyers Should Budget For
Every Oregon property carries two values: Real Market Value (RMV), which tracks actual market conditions annually, and Maximum Assessed Value (MAV), which can grow no more than 3% a year regardless of how fast RMV rises. Your tax bill is calculated on whichever of the two is lower — usually the MAV in a rising market. Critically, and unlike Michigan's Proposal A, Oregon's MAV does not reset when ownership changes hands. If you buy a home whose MAV has grown slowly for 20 years while the market value climbed much faster, you inherit that same low MAV and the 3% cap keeps working in your favor from day one. Oregon has no general homestead exemption, but the Senior and Disabled Property Tax Deferral Program lets qualifying homeowners defer their tax bill entirely, with the deferred amount becoming a lien repaid when the home is sold or the owner passes away.
Pick Your Loan Type
Are you a teacher, nurse, firefighter, police officer, EMT, or veteran? Oregon may run additional hero-specific loan programs on top of the general OHCS options covered here. Browse the Hero Home Loan Programs hub and select Oregon for profession-specific options.
Frequently Asked Questions
Bottom Line: Oregon's home prices sit above the national median, but Measure 50's no-reset-on-sale rule is a genuine, often-overlooked advantage for buyers of long-held homes. OHCS down payment assistance can reach as high as $60,000, but the real number depends heavily on which local organization administers funds in your specific area — check locally rather than assuming the statewide ceiling.
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