Rep. Breese Iverson: 2 bills to aid first-time homebuyers

Supporting First-Time Homebuyers
By Oregon State Representative Vikki Breese Iverson,

House Republicans believe the 75% of Oregonians want to own a detached, single-family home. We are working to find ways to help them achieve their goals.

HB 3188 is a great program to help more first-time homebuyers find buying power by reducing mortgage payments. This bipartisan bill creates a loan loss fund which will provide first time homebuyers relief of private mortgage insurance on their mortgage through creative ways for the state to partner with credit unions.

HB 2316 creates Home Start lands. In short, this bill directs the state to look at all state-owned lands within and adjacent to UGB’s to be designated in this program and developed and sold to Oregon first time homebuyers.

These are just two examples of specific legislation intended to promote first time homebuyers.

In response to Oregon’s housing crisis, House Republicans are leading the way to provide new programs for home ownership. In addition to these innovative ideas, we are working across the aisle and building to find ways to improve programs currently available such as incubator programs, IDAs, first time homebuyers savings account and flex programs. We are also looking at increasing condominium production, which can be one more starting point for first time homebuyers.

Thank you for reading!