1. (1) A borrower is eligible for a mortgage loan under the program if they meet the eligibility requirements set forth in the OHCS Flex Lending Program's NextStep Product Guideline Manual.

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 to four residential dwelling units.
   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 47-2024, temporary amend filed 11/04/2024, effective 11/04/2024 through 05/02/2025
OHCS 1-2023, adopt filed 02/06/2023, effective 02/08/2023