Marion County Downpayment Assistance Program
Are you saving to buy a house? Eligible homeowners may qualify for up to $25,000.*
The Marion County Downpayment Assistance Program provides no interest loans of up to $25,000 for first time home buyers to cover a portion of the down payment/closing costs associated with their purchase of a home.
Frequently Asked Questions
How much is it?
Eligible house may apply for up to $25,000
What is the income eligibility?*
Your household gross income must be at or under 80% of the Area Median Income (AMI) based on your household size. Her the following income limits per household sizes:
Household Size of 1 - $44,300
Household Size of 2 - $50,600
Household Size of 3 - $56,950
Household Size of 4 - $63,250
Household Size of 5 - $68,350
Household Size of 6 - $73,400
Household Size of 7 - $78,450
Household Size of 8 - $83,500
What is the other eligibility?
- Be a “first-time homebuyer.” That is, you cannot have owned a home in the past three years.
- Purchase with the Marion County Oregon, but outside the Salem city limits
- Purchase a single-family home, or a manufactured home on owned land
- Occupy the home as your primary residence
- Income at or under 80% Area Median Income (AMI)
- Pre-approved for a mortgage
- Additional loan requirements
What are the required to apply for downpayment assistance?
- Fill out the Marion County DPA application
- Attend DevNW’s Fundaciones de Comprar de Vivienda (Spanish) or Homebuying Foundations (in English). Sign up here to get started.
- Meet with a DevNW HUD-certified homeownership counselor.
- There is a home inspection required. This is different from what a Home inspector does. (By DevNW)
What is down payment assistance and how does it work?
Downpayment assistance is a zero-interest loan for first-time homebuyers to help cover a portion downpayment and closing costs.
Is it a loan or a grant?
It’s a non-interest bearing loan, with a portion forgivable if you own for more than 10 years. The loan is a silent second, meaning there is a lien on the property from the county, not DevNW. If the property is sold between 1-5 years, 100% of the loan must be repaid. If the property is sold within 6-10 years, then the lien will be do, payable, at incremental declining amounts based on the year you sell the property. If the property is sold after 10 years, then $10,000 will be payable upon sale and the rest will be forgiven.
If you have any additional questions, please email and put “DPA question” in the subject line.