The City’s First Time Home Buyer program now provides no interest loans of up to $15,000 for low-income first time home buyers to cover a portion of the down payment/closing costs associated with their purchase of a home within the City of Corvallis. Qualified low-income buyers must have an income that is no higher than 80% of the current median level for Corvallis. Buyers must also complete an education program designed to prepare them for home ownership. The education program is provided by Willamette Neighborhood Housing Services, which may be reached by phoning (541) 752-7220.
The City’s NewHome Buyer Assistance Program now provides no interest loans of up to $15,000 to low income people purchasing a newly-constructed house within the City of Corvallis. The program is open to first-time or move-up home buyers. The purpose of the loan is to offset the permit fees and systems development charges associated with the construction of new homes.
Since the Home Buyer Assistance Programs use federal funding, if you intend to apply for a loan you will need to comply with the Uniform Relocation Act, or URA. Click here for a brochure on the Uniform Relocation Act or Click here en español. To learn more about how the requirements of the URA apply to purchasers who are receiving down payment assistance loans from the City of Corvallis, please contact the City’s Housing Division as early as possible when you’re ready to buy – and ideally, before you make a purchase offer! You can reach us by phone at (541) 766-6944, or by e-mail.
For further information about the City’s home buyer assistance programs, contact:
Housing Program Specialist
P.O. Box 1083
Corvallis, OR 97339