1. (1) A borrower is eligible for a mortgage loan under the Program if they meet the eligibility requirements set forth in the Oregon Bond and Flex Lending FirstHome Guideline Manual, and more specifically in the case of a Mortgage Loan made with tax-exempt bonds, the borrower meets the requirements of Section 143 of the Internal Revenue Code of 1986, as amended.

2. (2) A residence is eligible for a mortgage loan under the Program if:

   1. (a) The property is residential property located in Oregon;
   2. (b) The property contains one unit.
   3. (c) The property is structurally sound and functionally adequate; and
   4. (d) The property meets the requirements of the Department’s Servicer.

Statutory/Other Authority

ORS 456.555

Statutes/Other Implemented

ORS 456.555

History

OHCS 20-2025, amend filed 04/16/2025, effective 04/16/2025
OHCS 46-2024, temporary amend filed 11/04/2024, effective 11/04/2024 through 05/02/2025
OHCS 1-2012, f. & cert. ef. 3-27-12
OHCS 8-2011(Temp), f. & cert. ef. 9-30-11 thru 3-27-12
HSG 8-1991, f. & cert. ef. 12-23-91
HSG 2-1991(Temp), f. & cert. ef. 8-7-91
HSG 10-1989, f. & cert. ef. 11-3-89
HSG 3-1989(Temp), f. & cert. ef. 6-8-89
1HD 1-1980, f. & ef. 2-21-80