Down Payment and Closing Cost Assistance

We offer two financing options to aid you in the homebuying process after you graduate from our Homebuyer Education Workshop. These programs include:

Valley Individual Development Account Program (VIDA)

VIDA is a savings program that helps with down payment and closing costs by matching participant savings with $3 for every $1 saved. A VIDA specialist helps you through the process by providing no-cost, pre-purchase consultation, as well as ongoing support right up until your purchase transaction is completed.

Individuals interested in enrolling in the VIDA program toward homeownership need to:

  • Register for and complete our Homebuyer Education Workshop
  • Demonstrate that they have saved $25 each month for three consecutive months
  • Schedule an appointment with our Housing and VIDA specialist to income qualify and complete a savings agreement

VIDA participants will be required to complete our Dollars and Sense financial education program prior to withdrawing their funds.

Loan Program Services

We help income-qualified homebuyers secure down payment and closing cost assistance through a variety of down payment assistance programs offered by our lenders. We also refer eligible households to lenders that offer below-market interest rate loans financed by the Oregon Housing and Community Services Department.

Our Extra Step Program provides a loan with 0% APR toward down payment or closing costs for income-qualified first-time homebuyers (loan amounts vary). This loan does not have to be repaid until the home is sold or the first-mortgage loan is refinanced.

Funds for down payment assistance programs are limited. Please call today to talk to Housing Specialist and find out if you qualify!