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NEDCOs Down Payment Assistance Program


Awards up to $5,000 can be used for down payment or closing costs. This award is a "silent second" loan which means that it will not accrue interest, and there will be no monthly payments. As long as the home remains owner-occupied, the loan does not have to be re-paid until you sell or re-finance the home.

Lane County Flier
Mid-Willamette Valley Flier


To qualify, applicants must:

  • complete ABCs of Homebuying or eHomeAmerica. Both are 8-hour classes about the ins and outs of the home purchase process.
  • contribute at least $1500 of their own funds toward the home purchase. This can include costs associated with earnest money, appraisal, inspections, closing costs, etc.
  • be at or below 80% of area median income, click here for a link to the area median income chart for your county.

Preference for this DPA award will be given to:

  • Minorities
  • Those purchasing in a rural area (outside of the Eugene/Springfield or Salem/Keizer city limits)
  • Those purchasing in the City of Salem (where City-sponsored down payment assistance is not available)

This award cannot be combined with SHOP, HAP or other forms of down payment assistance (except IDA accounts).


Once you are working with a lender towards the purchase of your home, your lender needs to contact us to request the application.

Press Release:

May 20,2011

Down Payment Assistance Available for Rural and Minority First Time Homebuyers


NEDCO (Neighborhood Economic Development Corporation) is proud to announce a new down payment assistance program. Up to $5000 per qualifying household is available to help minority and rural first time homebuyers reach their dream of owning a home. Families must be low-income (at or below 80% of area median income). The funds can be used toward a down payment or closing costs.

Home prices are more accessible to first time buyers than they have been in years, but with a tightening lending environment, many low and moderate-income families (even those with stable income and great credit) have a hard time meeting the up-front costs of a home purchase. Through a generous grant from Oregon Housing and Community Services, NEDCO will be able to help families overcome that barrier and reach their dream of homeownership! At a time when stories of default and foreclosure dominate the conversation, the program offers a much needed glimpse of positive news.

"Today's homebuyer is very different from the buyers who bought during the real estate boom" states Jose Gonzalez, an agent with Tu Casa Real Estate in Salem, and a member of NEDCO's Regional Housing Center Advisory Board. "They are very responsible, take time making their decision and are buying well below their means. This program is important as it helps us bring in families who represent rural areas and the minority communities. This assistance is telling them 'We know your investment in a home is important to our economic recovery, and we are willing to participate financially.'"

Anyone interested in accessing this program should contact NEDCO for more information. All applicants will be required to complete the ABCs of Homebuying, a one-day course that covers all aspects of the home purchase process: financial preparation, shopping for a home, the closing process and beyond. Registration for ABCs of Homebuying is available on NEDCO's website at

NEDCO (Neighborhood Economic Development Corporation) is a nonprofit organization with a mission to collaboratively build human and capital assets to strengthen neighborhoods and broaden participation in community ownership and governance. NEDCO was established in 1979 as Oregon's first Community Development Corporation. Over the past three decades, we have revitalized communities, built affordable homes, and assisted over 18,000 people to manage finances to build assets such as homeownership and small business.

For more information go to or email Emily Reiman, Regional Housing Centers Manager, at



Homeownership Center Photo
HUD Approved Housing Counseling Agency
Mid-Willamette Valley office: 2700 Market St NE Suite 110, Salem, OR 97301 • Phone: 503-779-2680
Lane County office: 212 Main Street, Springfield, OR 97477  • Phone: 541-345-7106

Equal Housing Opportunity