When considering a home purchase, the most sobering question is usually “how much will I need to put down?” There are some other upfront costs involved in a home purchase, but those can usually be minimized, financed, and/or paid for by the seller. More on that later. For now, let’s focus on the one completely unavoidable buyer responsibility – the mortgage downpayment.

Contrary to popular belief that you need 20% down to buy a house, lenders in the Portland area actually offer many different down payment options to buyers who can afford a monthly mortgage payment. To truly determine which program and lender is right for any given client, I like to meet up first to discuss goals. From there, I’m able to make a referral to the right mortgage professional. Based on my experience, one of the most important things I can do to create a great home-buying experience for a client is to make the right match with the right person at the right bank whose program availability, communication style, and personality will all click with my client. If you’re seriously considering a purchase, we should talk. In the meantime, here are a handful of the programs that my clients use often, along with their pros and cons*:

Printable Copy


*The table is a summary only and is believed but not guaranteed to be accurate. All of the programs listed have additional guidelines, pros and cons that consumers should discuss in detail with their mortgage lender of choice.