Am I limited to purchasing a home with a Conventional Mortgage? How much can I borrow using this program?
Yes, all homes must be purchased with Fixed-Rate Conventional Loans up to $647,200 (as of 01/01/2022). No Jumbo loans or other loan options are available at this time.
What is the minimum down payment required for a home loan?
The minimum down payment required for a conventional mortgage is 3%, but borrowers with lower credit scores or higher debt-to-income ratios may be required to put down more. Contact our Mortgage Department for more information at 503-906-9497.
Is this for primary residency only?
Yes, this mortgage program is for primary residences only at this time.