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Read. Follow. Verify.Oregon creates three-year closing cost loan program for first-time home buyers
Last action · March 6, 2026: In committee upon adjournment.Sponsors: Werner Reschke and 3 others
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What This Bill Proposed
Digest: The Act would have loans made to first-time home buyers to offset closing costs. The Act would make the loan plus interest due when the home is sold, the borrower moves out or, if the home is a mobile home, it is moved out of state. The Act would have the program run for three years. (Flesch Readability Score: 88.1). Creates a program for deferred loans to first-time home buyers in an amount not greater than the lesser of the closing costs on the purchase or one percent of the purchase price. Makes the deferred loans repayable when the home changes ownership, is no longer the homestead of the borrower or, if the home is mobile, is moved out of state. Retires the program after three years. Declares an emergency, effective on passage.
Qualifying first-time home buyers can defer out-of-pocket closing expenses up to 1% of their home purchase price, backed by state revolving funds, while creating a statutory lien on their property that requires full repayment upon sale, moving, or change in primary residency.
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
First-time home buyers
Eligible first-time buyers can receive deferred loans to cover closing costs up to 1% of the purchase price, subject to repayment liens and eligibility conditions.
Department of Revenue
The department must establish rules, review and process claims, publish program information, and manage loan liens and foreclosures.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Who is eligible for the first-time home buyer deferred loan?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
5 actions- Mar 6, 2026HouseIn committee upon adjournment.
- Feb 19, 2026HouseInformational Meeting held.
- Feb 17, 2026HouseInformational Meeting cancelled.
- Feb 2, 2026HouseReferred to Housing and Homelessness with subsequent referral to Revenue.
- Feb 2, 2026HouseFirst reading. Referred to Speaker's desk.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Use of Senior Property Tax Deferral Fund
The bill uses moneys from the Senior Property Tax Deferral Revolving Account to fund loans for first-time home buyers.
Connected Entities
Sources
olis.oregonlegislature.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 60)
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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