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Home / Oregon Licensed Statewide · Firefighter-Owned

Oregon Mortgage Broker.
From The Coast
To High Desert.

Hero Mortgage Group is a firefighter-owned brokerage licensed across Oregon. We close loans from Portland’s Pearl District to coastal Astoria, from the Willamette Valley to Bend and Klamath Falls. Oregon’s state assistance moved to OHCS Flex Lending when the Oregon Bond Residential Loan Program stopped taking reservations on March 31, 2025. FirstHome is the successor, and it is a workhorse we run weekly. Different lender bench, same Hero discipline.

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5%
OHCS FirstHome DPA
$832K
2026 Baseline Loan Limit
0TAX
No Oregon Sales Tax
15DAYS
Average Oregon Close
Why Hero In Oregon

Three Oregons.
One Mortgage Approach.

Oregon lending breaks into three distinct markets. The Portland metro — high-priced, tech-driven, condo-heavy. The Willamette Valley — Salem, Eugene, Corvallis — university-anchored, more affordable, family-focused. And Central & Eastern Oregon — Bend, Redmond, Klamath Falls, Medford — high desert lifestyle, growing fast, often second-home and short-term-rental territory.

Each market wants a different file structure. Portland files use OHCS FirstHome + standard conventional; Valley files lean heavily on FHA + DPA; Central Oregon often runs jumbo and short-term-rental DSCR. We work all three.

Programs · Oregon

Flex Lending, VA, FHA
+ The Full Menu.

Oregon’s DPA program is concentrated in one strong product, with state-level VA and FHA expertise on top.

OHCS Flex Lending — FirstHome.

Oregon’s current state program, and the successor to Oregon Bond. FirstHome pairs a 30-year fixed first mortgage with down-payment assistance of 4% standard, or 5% under Focused Demographics. How that assistance behaves depends entirely on your income: at or below 80% of area median it is a forgivable second at 0% with no payments, forgiven in full at the end of its term. Above 80% AMI it is an amortizing second at 1% above your first-mortgage rate, with monthly payments over 10 to 20 years. It is not a grant in either case, and selling, refinancing, renting the home or moving out before term ends makes the balance due. Income limits are household income — every occupant 18 and older — and the cap is a purchase price limit, both set by county. Minimum 640 credit score.

OHCS also runs NextStep alongside FirstHome. We model what you qualify for side by side. Note that FirstHome does not finance 2–4 unit properties, homes with an ADU, co-ops, second homes or investment property.

VA Loans In Oregon.

Oregon has roughly 280,000 veterans, with major concentrations around Portland (Joint Base Lewis-McChord is technically across the river in Washington but draws Oregon residents), Salem, and Eugene. The 2026 baseline VA loan limit in most Oregon counties is $832,750. Hood River and a few coastal counties hit higher tiers. Full-entitlement veterans can go above the limit with no down payment.

Conventional & Jumbo.

Portland and Bend both run home values that frequently exceed the conforming limit. Our jumbo lender bench has appetite for Pacific Northwest files specifically — particularly second-home and resort-area mortgages around Sunriver, Black Butte, and the Bend/Redmond corridor.

FHA In Oregon.

2026 FHA single-family limits in Oregon range from $524,225 (baseline) up to higher tiers in Multnomah, Washington, and Clackamas counties (Portland metro). Most Oregon FHA files run between $600K-$700K loan limits. We confirm the specific number for your county at pre-approval.

Non-QM For Oregon's Self-Employed.

Oregon has a high share of self-employed residents — creative professionals in Portland, growers and viticulturists in the valley, and small-business owners across Central Oregon. Our bank-statement, 1099-only, and asset-depletion Non-QM programs serve files agency lenders can't touch.

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Oregon · Statewide Coverage

Coast To High Desert.
Border To Border.

Oregon FAQ

Questions From Oregon
Buyers, Answered.

Is the Oregon FirstHome down payment assistance forgiven?

Only if your income is at or below 80% of area median. At or below that line, the FirstHome second is 0% with no payments and is forgiven in full once its term completes. Above 80% AMI it is an amortizing second at 1% above your first-mortgage rate, with real monthly payments, and nothing is forgiven. In both cases the balance comes due if you sell, refinance, rent the home out, or stop occupying it before the term ends. We tell you which side of the line you fall on before you rely on it.

How does Oregon's high state income tax affect my mortgage qualification?

Less than you'd think. Mortgage underwriting uses gross income for DTI calculation, not net-of-tax. Oregon's 9.9% top marginal rate doesn't reduce your qualifying income on paper. The practical impact: your actual take-home pay is lower than the gross suggests, so the housing payment you're qualified for may feel tighter month-to-month than in a no-income-tax state. We help you right-size your purchase price to your actual take-home, not just your underwriting max.

I'm buying in Bend. Can I use the property as a short-term rental?

Depends on the jurisdiction. The City of Bend has STR regulations including density caps and licensing requirements. Sunriver, Sisters, and unincorporated Deschutes County each have different rules. For mortgage purposes, the file structures as either an investment loan (DSCR using projected rent) or a second home (no rental income credit but lower rates). We confirm STR permitability with the local jurisdiction before submission.

How does Oregon's Measure 50 property tax cap work?

Oregon Measure 50 (passed 1997) caps the annual growth of a property's assessed value at 3% — even if market values jump 10%+ year-over-year. The benefit: long-time owners often pay property tax on assessed values far below actual market value. For new buyers, the assessed value resets toward market value upon sale, so you should expect your first-year tax bill to be higher than the prior owner's. We pull current and projected property tax estimates from the county assessor for every Oregon file.

What's the FHA loan limit in Portland for 2026?

Multnomah, Washington, and Clackamas Counties (Portland metro) sit in a high-cost FHA tier with single-family limits in the $670,000-$725,000 range for 2026. Most other Oregon counties sit at the FHA baseline of $524,225. Multi-unit limits scale proportionally. We confirm the specific 2026 figure for your target zip at pre-approval.

Will wildfire insurance availability affect my purchase in Oregon?

Possibly, depending on county. Jackson, Josephine, parts of Klamath and Deschutes, and some Central Oregon ZIP codes have seen insurance carriers tighten or withdraw. Lenders require evidence of binding insurance before closing — so an unavailable policy can kill a deal. We pre-quote insurance during pre-approval so you're not surprised in week three.

How fast can you close an Oregon mortgage?

Our average Oregon close is 15 days from contract acceptance. Variables: appraisal turn time (5-10 days in Portland metro, 10-14 days in Central Oregon and the Coast due to appraiser availability), wildfire-zone insurance binding (can add days in fire-prone counties), and HOA estoppel where applicable. VA IRRRL refinances often close in 10 days or less.

For Every Oregon Buyer

Coast, Valley, & Desert.
One Broker For All Three.

No documents required to start. Eligibility for OHCS Flex Lending FirstHome and NextStep verified on the first call.

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