HB 3507
Requires the Housing and Community Services Department to amend specified down payment assistance programs to increase eligibility by January 1, 2026.
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Sign in to take actionPublic sentiment
Support
96%
Oppose
4%
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires the Oregon Housing and Community Services Department to update two down payment assistance programs, the Home Ownership Assistance Program (HOAP) and the Culturally Responsive Organization Down Payment Assistance Program (CRO-DPA), by January 1, 2026. The changes will expand eligibility to include households with low or moderate income, increase the maximum down payment assistance available to $100,000 for first-time homebuyers, and raise the overall funding cap for first-time buyers to $40,000. These updates aim to increase homeownership opportunities for a wider range of Oregonians.
Key provisions
- Expand eligibility for down payment assistance programs to households with low or moderate income.
- Increase the maximum per household down payment assistance payment to $100,000 for first-generation homebuyers.
- Raise the maximum funding cap for first-time home buyers to $40,000.
- Require organizations receiving grants to prioritize assistance to households with income at or below area median income.
- The Home Ownership Assistance Account will be used for grants to organizations providing down payment assistance and technical assistance to organizations assisting low-income households with homeownership.
- Prioritize grants to organizations that promote long-term affordability and generational wealth building.
- The Housing and Community Services Department will provide grants and technical assistance to organizations that increase access for persons of color to homeownership programs.
Who is affected
Sponsors
Official sponsors from legislative records.
Primary sponsors
Cosponsor
Arguments in favor
Reasons to support this legislation.
Supporters of House Bill 3507 agree that the state's Culturally Responsive Organization Down Payment Assistance program is crucial in enhancing access to homeownership for low-income households. They advocate for expanding income eligibility, increasing funding caps, and providing critical technical fixes to address affordability, saving for a down payment, and mortgage insurance costs. Many the importance of down payment assistance in helping individuals achieve homeownership, particularly those from underprivileged communities, and highlight the need to increase access to sustainable housing opportunities for first-time and first-generation homebuyers. By supporting HB 3507, advocates aim to address significant housing disparities among Native Americans, farmworkers, and low- and moderate-income households, ultimately promoting greater economic mobility and social equity.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
Opponents of HB 3507 argue that increasing funding to low-income households may not be the most effective use of resources, as the state should prioritize paying off its debt to maintain fiscal stability. Some testifiers also express concerns about the allocation of funds towards diversity and inclusion initiatives within the Housing and Community Services Department, suggesting that these efforts may divert attention and resources away from more pressing needs. Furthermore, they question the long-term sustainability of providing increased funding for housing assistance programs, citing the need for a more comprehensive approach to addressing Oregon's housing crisis.