State Buyer Guide

First-Time Home Buyer Guide
for Oregon

Down payment assistance, Oregon housing programs, closing cost estimates, and what to know before buying — including from FSBO sellers.

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$475,000
Avg Home Price
0.93%
Property Tax Rate
~$10,925
Est. Closing Costs
None (state); some cities charge small fee
Transfer Tax

Oregon Housing Finance Agency Programs

The Oregon Housing and Community Services (OHCS) is your primary source for below-market mortgage rates and down payment assistance in Oregon. Programs are available through approved lenders — not directly through the HFA.

Oregon Bond Residential Loan
Rate ~0.5–1% below conventional rates; Cash Advantage DPA available

Below-market rate first mortgages for first-time buyers through approved lenders.

Income limit: $125,000 (varies by household size and area)
Learn more at Oregon Housing and Community Services (OHCS)
Oregon Bond Cash Advantage
Up to $15,000 as a low-rate second mortgage

DPA component providing closing cost and down payment help.

Income limit: $125,000
Learn more at Oregon Housing and Community Services (OHCS)
High Value — $240/funded loan

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Closing Costs in Oregon

Typical Closing Cost Range
2.3% of purchase price

On a $475,000 home: approximately $10,925

Transfer Tax
None (state); some cities charge small fee

Oregon has no state real estate transfer tax. Washington County and some municipalities have introduced local transfer taxes — check for your specific city.

Attorney at Closing?
No — title company state

Oregon is an escrow/title-company state. An attorney is not required at closing. Escrow companies manage the transaction.

Key Tips for Buying in Oregon

  • Oregon has no sales tax, which helps offset higher home prices in the Portland metro.
  • Portland's real estate market has cooled from 2021–2022 highs — better buyer negotiating conditions now.
  • Earthquake and volcanic hazard zones affect much of western Oregon — standard homeowners insurance doesn't cover earthquakes.
  • Oregon's land use planning laws limit new construction supply — existing home condition matters even more here.
Home Inspection

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Legal Help for Oregon Buyers

While Oregon doesn't require an attorney at closing, FSBO buyers should strongly consider having one review the purchase agreement and title work.

Legal Help for FSBO Buyers

Nolo

Nolo has been the go-to legal resource for DIY buyers since 1971. Their real estate guides explain purchase agreements, contingencies, and closing in language anyone can understand.

Browse Legal Guides
LegalZoom

Get a real estate attorney to review your purchase agreement or help you draft an offer letter — often for a fraction of traditional legal fees.

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US Legal Forms

Download state-specific purchase agreements, addenda, and disclosure forms — written by attorneys, ready to use in your state.

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Frequently Asked Questions

What first-time buyer programs are available in Oregon?

Oregon first-time buyers can access programs through the Oregon Housing and Community Services (OHCS) (https://www.oregon.gov/ohcs/), including the Oregon Bond Residential Loan (Rate ~0.5–1% below conventional rates; Cash Advantage DPA available) and the Oregon Bond Cash Advantage (Up to $15,000 as a low-rate second mortgage). Federal programs like FHA loans (3.5% down) and USDA loans (0% down in eligible areas) are also available.

What are typical closing costs in Oregon?

Closing costs in Oregon typically run 2.3% of the purchase price. Transfer tax: None (state); some cities charge small fee. Oregon has no state real estate transfer tax. Washington County and some municipalities have introduced local transfer taxes — check for your specific city.

Do I need an attorney to buy a home in Oregon?

Oregon is an escrow/title-company state. An attorney is not required at closing. Escrow companies manage the transaction.

What is the average home price in Oregon?

The median home price in Oregon is approximately $475,000. Property taxes average 0.93% of assessed value annually.

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