Creating Equitable Pathways to Homeownership
Oregon Housing and Community Services (OHCS) has developed a first-of-its-kind lending program to help fulfill OHCS’ mission of providing homeownership opportunities for low- to moderate-income Oregonians. Paired with down payment assistance (DPA), Flex Lending helps Oregonians buy homes in partnership with our approved mortgage lenders.
The Flex Lending Program provides a fixed-rate first mortgage in combination with a second mortgage in the form of either a silent forgivable second lien or an amortizing repayable second lien.
DPA funds may be used for up to 100% of the borrower’s cash requirement to close, including down payment, closing costs, pre-paid items, upfront borrower-paid mortgage insurance, and other related loan fees and expenses.