Bill > HB3507

This bill requires the Oregon Housing and Community Services Department to modify two home ownership assistance programs by January 1, 2026: the Home Ownership Assistance Program (HOAP) and the Culturally Responsive Organization Down Payment Assistance Program (CRO-DPA). The modifications include expanding program eligibility to households with low or moderate income (as defined in state law), increasing the maximum per household down payment assistance to $100,000 for first-generation home buyers, and raising the maximum funding cap for first-time home buyers to $40,000. The bill also amends existing statutes to shift language from "households with income at or below area median income" to "low or moderate income households" across multiple sections, with a particular focus on supporting homeownership opportunities for historically underserved groups like persons of color, indigenous persons, veterans, and individuals with disabilities. The changes aim to increase homeownership access and support generational wealth building for communities that have faced barriers to home ownership. The bill will take effect 91 days after the adjournment of the 2025 regular legislative session.

Housing and Urban Affairs

https://olis.oregonlegislature.gov/liz/2025R1/Measures/Overview/HB3507