Homebuying Requirements for a DPA Loan

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To qualify for a Down Payment Assistance (DPA) loan, you must meet the program’s homebuying requirements and include specific terms, called contingencies, in your purchase agreement. ReOregon recommends working with a licensed real estate agent to help you through the homebuying process.

What are the DPA program requirements?

To meet the DPA program requirements, you must:

Get a pre-approval letter from a qualified mortgage lender.
Complete a homebuyer education class (all borrowers in the household) that has been approved by the U.S. Department of Housing and Urban Development (HUD).
Choose an eligible property: a single-family home, qualifying manufactured home (2010 or newer), townhome, or condo (in a building with four or fewer units).
Ensure the home passes inspection and environmental review.
Buy a move-in ready home — no major repairs or reconstruction needed.
Not buy vacant land, RVs, or tenant-occupied homes.

What are the contingency requirements of the purchase agreement?

Any offers you make to buy a new home must include the following contingencies in the purchase agreement:

At least 25 days for inspections
At least 60 days to close
A satisfactory environmental review
A standard home inspection, including radon testing, lead-based paint inspection (if applicable), and asbestos testing (if applicable)
An appraisal confirming the home's value meets or exceeds the purchase price
A clear title confirmed by a title search
Availability of ReOregon DPA funding at closing

Do not sign the purchase agreement until your DPA specialist confirms the home is eligible.

We are here to help

To learn more, call 877-510-6800 or 541-250-0938, or email us at housingsupport@reoregon.org.