$22 Million Oregon Down Payment Assistance Program Finding Success

Salem, Oregon- In a transformative initiative, Oregon Housing and Community Services (OHCS) proudly announced that its Down Payment Assistance (DPA) Program has facilitated the purchase of homes for 117 Oregonians. The state allocated a substantial $22 million in down payment assistance to 21 organizations statewide. As of September 30, 2023, these organizations have disbursed over $4.3 million, providing a lifeline to numerous homebuyers.

The financial aid, averaging $36,770 per homebuyer, has proven instrumental in making homeownership a reality for many across the state, where the average home price hovers just under $300,000. Jessica McKinney, lead housing counselor at Community in Action, shared a success story, emphasizing the program’s impact on individuals facing housing insecurity.

One such beneficiary is Daisy Glenn of Vale, Oregon, who, on the brink of homelessness due to an impending eviction, found solace in the OHCS Down Payment Assistance grant. Jessica McKinney explained, “Thanks to a down payment assistance grant funded by Oregon Housing and Community Services (OHCS), Daisy was able to work with us, not only to keep her off the streets but to buy her first home.”

Daisy’s experience echoes that of more than a hundred other Oregonians who have partnered with OHCS and its collaborators to realize the dream of homeownership. The Down Payment Assistance program, funded by the Home Ownership Assistance Program (HOAP) and Construction Excise Tax (CET) proceeds, addresses the critical need for affordable housing solutions.

Keeble Giscombe, the director of Homeownership at OHCS, expressed enthusiasm for Daisy’s success and emphasized the program’s significance in aiding low-income Oregonians to become first-time homebuyers. Giscombe stated, “DPA is a valuable and necessary tool to help more low-income Oregonians become first-time homebuyers. We hope to continue hearing about more success stories like Daisy’s in the coming year.”

To enhance the program’s impact, OHCS revamped it in 2023 to prioritize first-generation homebuyers, a novel eligibility category. This strategic move aimed to reduce the racial wealth gap and promote generational wealth.

Officials say the results have been noteworthy, with 56% of homebuyers identified as first-generation and 62% as people of color, signaling a positive step towards inclusivity and equity.