WELCOME HOME Program

First-time homebuyer down payment assistance program 

The WELCOME HOME program can loan up to $40,000 to help qualified low-income, first-time homebuyers pay for a down payment and reasonable closing costs.

The loan is a 0% interest deferred-payment that's forgiven at the end of 15 years. Homes purchased through WELCOME HOME must be the homebuyer's primary residence for the length of the loan. Please note, funds offered through this program can be used for down payment assistance and closing costs only. All participants must also qualify for a first mortgage with a qualifying lender to fund the rest of the home purchase.

How WELCOME HOME works

The City's Community Revitalization program works with Oregon-licensed lenders and the Portland Housing Center to offer Gresham residents the WELCOME HOME program.

WELCOME HOME makes ownership of new or existing single family housing more affordable for qualified low-income first-time homebuyers by reducing the cash needed to purchase the home and lowering the monthly payments.

WELCOME HOME flyer and process overview

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Eligibility: applicants

Eligible applicants must:

1. Be a “first-time homebuyer.” The homebuyer hasn't owned a home during the past three years, is a displaced homemaker or a single parent.
2. Be low-income and demonstrate a financial need for WELCOME HOME assistance (see income limits).
3. Be a U.S. citizen, non-citizen national or a qualified alien.
4. Complete an authorized homebuyer education program.

Qualified borrowers must:

1. Have sufficient income to qualify for and support the primary debt.
2. Be pre-qualified by a primary lender. (No contract sales.)
3. Be able to contribute $1,000 in cash towards the purchase from the your own funds.

Median family income limits for Portland-Vancouver-Hillsboro primary metropolitan statistical area (2024)

Eligibility: properties

Eligible properties must:

1. Be located within the city limits of Gresham and be in good physical condition.
2. Have a purchase price not to exceed $489,000 for sales closing on or after September 1, 2024.
3. Meet the definition of affordable, standard single family housing (a single unit).
4. Meet property standards and pass the City’s inspection.
5. Be free of chipped or peeling paint if the house was built before 1978.
6. Not be occupied by a tenant unless the homebuyer is the tenant.

Additional requirements for manufactured housing units

1. Have been constructed after June 15, 1976, and in accordance with standards established under 24 CFR Part 3280.
2. Be located on land that is held by the first-time homebuyer or by a land trust under the definition of homeownership at 24 CFR 92.2.
3. Be taxed as real property, i.e., de-titled.
4. Be connected to permanent utility hook-ups.
5. Have a certificate issued by appropriate local jurisdiction or the State of Oregon certifying that the manufactured housing unit met the Oregon Manufactured Dwelling and Park Specialty Code in effect when it was installed on that site or has been brought up to current code.

Inspections

Required inspections include:

1. Full house inspection conducted by an Oregon-licensed inspector – paid for by you, the homebuyer.
2. Pest and dry rot inspection conducted by an Oregon-licensed inspector (can be part of full house inspection).
3. Property standards inspection conducted by a City inspector at no charge to the homebuyer.

Program funding

WELCOME HOME is funded by the federal HOME Investment Partnerships Program (HOME).

The City receives these funds through the federal Department of Housing and Urban Development (HUD). The minimum amount of WELCOME HOME funds assistance is $10,000; the maximum amount of assistance is $40,000. 

Contact us

For questions, contact Rachel Nehse at 503-618-2814 or Rachel.Nehse@GreshamOregon.gov.

To apply, contact our non-profit partner, the Portland Housing Center, at 503-282-7744 or HeidiM@PortlandHousingCenter.org.