Oregon attracts buyers nationwide with its lush forests and scenic coastline. With a variety of homes for sale in Oregon, you have plenty of options. But buying a house here can be challenging. You must get preapproved, check neighborhoods, and attend open houses.
With Houzeo, Oregon’s best home buying website, managing your home search is simple. You can look through the latest listings in Oregon, save your favorites, schedule showings, and submit offers, all at your fingertips.
👉 Download the Houzeo mobile app to simplify your Oregon home search.
At a Glance:
- Determine whether you’re purchasing a primary home, a vacation getaway, or a rental property, and choose Oregon cities that match your goals.
- Set aside 30–45 days for mortgage pre-approval. Aim for a credit score of 620+ to stay competitive in Oregon’s fast-moving market.
- Explore FHA, VA, or USDA loans, and apply for Oregon programs like the Oregon Bond Residential Loan Program.
- Use platforms like Houzeo to search Oregon homes by city, price, or must-have features like mountain views, farmland acreage, or riverfront access.
- Schedule inspections for the roof, HVAC, and plumbing. In coastal areas, add wind mitigation and flood risk assessments.
- Expect 2%–5% in closing costs. After purchase, file for Oregon’s Property Tax Exemption programs to reduce your property taxes in Oregon.
7 Steps for Buying a Home in Oregon 🏖️
Buying a house in Oregon doesn’t have to be complicated. Whether you’re just starting your search or are already browsing homes for sale in Eugene and other cities, these 7 simple steps will help you move forward with confidence:
Step 1: Decide Your Homebuying Purpose
Whether you’re looking for a getaway or seeking an investment, knowing why you’re buying real estate in Oregon is essential. It sets your expectations and helps you make smarter choices. Here’s what you should keep in mind:
- Primary Residence vs. Investment: If you want to buy a home, choose places that fit your lifestyle, whether it’s a city like Portland or a suburb like West Linn. For investment properties, consider homes for sale in Bend, where tourism drives demand.
- Short-Term or Long-Term: If you plan to live in the house for only a few years, focus on neighborhoods with strong resale value and upward market trends. You can check out homes for sale in Corvallis or Salem, where the housing market continues to grow.
- Space Requirements: If you’re looking for larger lots or big backyards, consider suburban areas like Oviedo. But if you prefer something easier to manage, condos in places like downtown Sarasota can be a smart option. However, they often have smaller lots.
Calculate the cost of living in Oregon to get a detailed breakdown of expenses like housing, utilities, transportation, and more. 🏡
Step 2: Explore Financing Options
Before making a purchase, it’s important to understand the financing options available for you to make an informed decision. Here’s what you need to do:
1. Prepare Financially
- Check Your Credit Score: Lenders will check your credit score to determine if you’re eligible for a loan. Aim for a score of 500+ for an FHA loan and 620+ for a conventional loan.
- Calculate Your Debt-to-Income (DTI) Ratio: Lenders often use your DTI ratio to assess how much home you can afford. Keep your DTI below 36%, especially if you want a home in an expensive region like Eugene or Hood River.
- Set Your Budget: Ensure your budget includes property taxes, homeowners’ insurance, and potential flood insurance, particularly in Oregon‘s coastal areas like Astoria or West Coos Bay.
👉 Use an Oregon mortgage calculator to estimate how much property you can afford in the Beaver State.
2. Explore Loans and Assistance Programs
Down payments in Oregon usually range between 10% and 20%, but often vary based on the financing option you choose. You can also look for suitable Down Payment Assistance Programs (DPAs) to help you cover part or all of your down payment.
| Program | Description |
| FHA Loans | Require just 3.5% down and are ideal for Oregon first time home buyer. |
| VA & USDA Loans | Offer 0% down with lower interest rates. Perfect for veterans or those purchasing homes in rural areas. |
| Oregon Bond Residential Loan Program | Provides down payment assistance and affordable financing options for eligible buyers throughout the state. |
| Oregon Hometown Heroes Program | Provides down payment and closing cost assistance to first-time, qualified buyers to purchase a primary residence in the community where they live and work, such as teachers, firefighters, or healthcare professionals. |
Step 3: Get Pre-Approved for a Mortgage
The Oregon housing market is competitive, so get a mortgage pre-approval to show sellers you’re a serious buyer. In fact, 86% of sellers prefer buyers who are pre-approved. It also helps you negotiate better, and reduces delays in the transaction.
Shop around to find the best Oregon mortgage lenders—compare their programs, rates and terms. Once you’ve narrowed down your options, get pre-approved by submitting documents like proof of income, credit history, bank statements, and your ID proof.
Step 4: Dive Into the Oregon Market
Whether you’re looking at houses for sale in Medford or anywhere else in the Beaver State, here’s how to buy smart:
- Online Listings: If you’re wondering how to buy a house, starting with online listings is a good first step. Use platforms like Houzeo to search homes for sale by price, zip code, and more. You can also filter for must-haves like a backyard, waterfront view, etc.
- FSBO (For Sale By Owner) Homes: Explore FSBO listings, as they often offer more flexibility in price negotiations. This is because sellers aren’t paying 5% to 6% in agent fees.
Baker City is the nicest and cheapest place to live in Oregon. The number of homes for sale in Baker City is on the rise, thanks to its safe neighborhoods and diverse job opportunities.
Step 5: Make a Competitive Offer
In Oregon’s competitive housing market, homes tend to sell fast. Make sure you focus on real estate comps for a more accurate picture. Here’s a checklist to help you craft a strong offer:
- Seller’s Name and Address: Don’t forget the basics—include the seller’s legal name and property address.
- Price and Terms: Offer a price based on Fair Market Value (FMV) and comparable sales. In high-demand areas like Portland’s Pearl District, you might need to offer above the asking price to stand out.
- Down Payment: In Oregon, down payments usually range from 3% to 20%. In competitive markets like Oswego, a larger down payment can strengthen your offer.
- Earnest Money: Boost your earnest money deposit to show you’re serious, especially in hotspots like Bend, where homes can go fast.
- Contingencies: Include protections like home inspection, financing, and wind mitigation contingencies. These safeguards protect you from issues like hurricane damage or any other issues.
- Concessions: Request the seller to cover some closing costs. In Oregon, it’s common to negotiate repairs after the inspection, such as roof issues, HVAC problems, or plumbing leaks.
- Deadline for Seller’s Response: Set a 24- to 72-hour deadline to encourage a prompt reply. This helps prevent delays and keeps you on track for Oregon’s average 44-day closing timeline.
- Closing Costs: Expect closing costs around 2% to 5% of the home’s price, including title insurance, property taxes, and lender fees.
Step 6: Conduct Inspections and Appraisals
A standard home inspection in Oregon should cover:
- HVAC System: Ensure the air conditioning can handle Oregon’s heat and humidity. It is essential for year-round comfort.
- Plumbing: Check for leaks, corrosion, and water pressure issues, especially in Oregon homes built before the 1980s. Older homes in areas like Salem or Astoria may be more vulnerable to water damage from heavy rainfall and humidity.
- Electrical System: Verify everything is up to code and can withstand storm-related power surges in coastal regions like Lincoln City or Florence, which are common in Oregon.
- Roof Condition: Assess for damage from heavy rain, wind, or moss growth, which is typical in Oregon’s wet climate.
- Foundation and Structure: Look for cracks, moisture, or settlement issues, particularly in flood-prone or sandy-soil areas like Willamette or Columbia Rivers.
If you’re browsing houses for sale in Oregon or elsewhere, ensure that you get a wind mitigation inspection for hurricane risk. Also, if you have a condo over 30 years old and higher than two stories, make sure you get a Milestone Inspection for structural safety.
Once the inspection is complete, your lender will order a home appraisal to confirm the property’s market value. This step ensures the loan amount aligns with what the home is actually worth. It can impact final loan approval, especially if the appraisal comes in low.
Step 7: Close on Your Oregon Home
Almost there! Closing usually takes 30–45 days, from signing the contract to getting the keys in your hand. Here’s what you can expect:
- Final Walkthrough: Make sure all repairs have been completed, and the home is in the agreed-upon condition.
- Buyer Closing Costs: Expect to pay 2%–5% of the home price. This includes title fees and lender charges, plus prepaid taxes or insurance.
Once you sign the dotted line and transfer the escrow—congratulations, you’re officially a homeowner. Grab those keys and cue your happy dance! 🎉
What Should You Do After Closing?
Welcome home! Now it’s time to handle a few must-dos to protect your investment:
- File for Homestead Exemption: If the home is your primary residence, apply for Oregon’s Property Tax Deferral to reduce your property taxes. These programs can help lower your annual tax burden.
- Set Up Utilities: Get water, electric, internet, and trash service connected, often through Portland General Electric (PGE). And don’t forget pest control, especially in humid areas, where bugs are active year-round.
- Get Insurance: Homeowners insurance is required if you’re financing, and flood insurance may be needed in FEMA zones. Rates are higher in coastal areas like Willamette or Columbia due to hurricane or flood risk.
- Home Maintenance Plan: Schedule AC tune-ups at least twice a year, clear gutters regularly, and inspect roofs for storm damage or algae buildup. Consider wind mitigation upgrades to reduce insurance costs.
How to Buy a House in Oregon Without a Realtor?
Start by researching neighborhoods and browsing listings on trusted sites like Houzeo. Then, schedule showings directly with sellers or their agents. You can also hire a real estate attorney to review contracts and handle legal details.
Next, get pre-approved for a mortgage, make an offer, schedule inspections, and negotiate repairs. With the necessary due diligence, you can buy a house without a Realtor.
Should You Buy a House in Oregon?
Absolutely! Oregon offers incredible opportunities for homeowners, whether you’re buying for investment, residence, or vacation. Moreover, with more homes being sold below the list price, now’s the best time to buy a house in Oregon.
Whether you’re drawn to Tampa’s growing job market or Naples’ coastal charm, Oregon has it all. There’s a spot to match every lifestyle and budget. So if you’re on the hunt, check out our list of the best places to live in Oregon!
Frequently Asked Questions
What are the requirements to buy a house in Oregon?
To buy a house in Oregon, you'll need a minimum credit score of 620, proof of income, funds for a down payment, and a debt-to-income ratio of up to 36%. You should also get a mortgage pre-approval if you plan to get a mortgage.
How much is a down payment on a house in Oregon?
It depends on the type of mortgage you choose. For a conventional loan, you’ll typically need to put down 20%. FHA loans, on the other hand, require as little as 3.5%. If you’re a first-time buyer, Oregon also offers assistance programs that can help cover your down payment, depending on eligibility.
What credit score do I need to buy a house in Oregon?
For an FHA loan, you'll need a minimum credit score of 500, while conventional loans typically require 620 or higher. A good credit score can help you secure lower interest rates.
Can I buy a house without a Realtor in Oregon?
Yes, you can buy a house without a Realtor in Oregon. It's possible to handle negotiations, paperwork, and legal steps on your own or with help from an attorney. Just make sure you conduct thorough research and inspections.
