Homeownership Development programs
OHCS’ Homeownership Development programs aim to increase the supply of affordable homes for purchase by Oregonians with low to moderate incomes across the state. We strive to create new, affordable homes that respond to local housing needs and are accessible to communities that are underrepresented as homeowners in Oregon. OHCS offers funds through competitive Notices of Funding Availability (NOFAs).
See current NOFAs
Local Innovation and Fast Track Homeownership (LIFT-HO) Program
LIFT Homeownership is intended to create affordable homeownership opportunities for low- to moderate-income families. Utilizing Article XI-Q bond funding as a source for housing development, LIFT requires the state to have an ownership or operational interest in any real property developed.
Homeownership Development Incubator Program (HDIP)
HDIP seeks to increase developers' capacity to build and boost the supply of affordable homes for purchase available to low- to moderate-income Oregonians. Through HDIP, OHCS aims to spur innovative, community-informed housing models and climate-resilient communities across the state. HDIP is a flexible program that can respond to needs and available funding.
Currently, the only program we have available through HDIP is a predevelopment loan. OHCS offers funds through competitive Notices of Funding Availability (NOFAs).
Land Acquisition Revolving Loan Program (LAP)
LAP assists eligible organizations in Oregon to purchase land suited for affordable housing development. Typically, 40% of the LAP fund is designated for land that will be used for affordable homeownership projects.
Oregon Affordable Housing Tax Credit (OAHTC)
The OAHTC Homeownership program is focused on increasing affordable housing availability for households of low to moderate incomes and promoting new homeownership models. The program offers state tax credits of up to 4% to lenders who agree to reduce the interest on permanent loans to limited equity cooperatives (LECs) or nonprofit- or cooperative-owned manufactured home parks by up to 4% lasting up to 20 years (30 years for USDA, or preservation loans).
These credits lower permanent financing interest rates for new affordable homes targeting low- to moderate-income households earning 80% or less of the area median income (AMI). For LEC projects, all interest savings must be passed to members of the LECs to reduce their monthly housing payment costs. Developers can apply for OAHTC Homeownership through the Homeownership Development NOFA or as a standalone application.
Preservation of Manufactured Dwelling Parks (PMDP)
The PMDP program assists eligible resident groups or qualified nonprofits to take ownership of manufactured home parks to prevent closures, displacement, and rising rents. Funds may be used to acquire and rehabilitate parks to ensure long-term habitability and affordability.