First-Time Homebuyer Programs in Sherwood: Grants, Loans, and Local Resources
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Sherwood's Washington County location — with the highest median effective property tax rate of any city in the county — makes understanding the full carrying cost picture essential for first-time buyers. Oregon's assistance programs can reduce the upfront cash requirement, while careful planning around tax rates protects the long-term affordability of any purchase.
State and Local Programs
Oregon Housing and Community Services is Oregon's primary statewide first-time buyer resource. The Oregon Bond Residential Home Loan Program's Cash Advantage option provides 4 to 5 percent of the first mortgage amount toward down payment and closing costs as a deferred second lien with no monthly payments, repaid at sale or refinance. The Rate Advantage option provides a below-market first mortgage rate for buyers focused on reducing monthly payments.
Washington County's First Home Homeownership Program provides additional down payment assistance for first-time, low-to-moderate-income buyers in Washington County through partner organizations including Proud Ground, West Tuality Habitat for Humanity, and Portland Housing Center. Portland Housing Center's programs serve Washington County buyers with additional DPA options.
Oregon's First Home Savings Account allows tax-advantaged saving for a first home down payment for accounts opened by December 31, 2026.
Eligibility Basics
OHCS programs require completion of a homebuyer education course and counseling with a participating organization. Income limits apply at 80 to 100 percent of area median income. Washington County's program has its own eligibility requirements administered through partner organizations — current funding availability should be confirmed directly.
How to Apply
Start with an OHCS-approved lender and contact the Washington County First Home program or Portland Housing Center to confirm current availability and eligibility for your Sherwood address. Because Sherwood has the highest effective property tax rate in Washington County, buyers should specifically build that rate into their monthly budget calculations alongside their assistance program research.
Working With an Agent
Sherwood's very competitive 2026 market — homes receiving multiple offers on average — means having assistance pre-arranged before going under contract is the most important buyer preparation step. A local agent familiar with Old Town Sherwood's specific pricing dynamics can help identify which properties fall within program purchase price limits.
Get more first-time buyer resources and guides on Discover Sherwood. Thinking about buying your first home in Sherwood? Connect with Paul Stecher — local expertise makes all the difference.
Sources: oregon.gov — Oregon Bond Program, washingtoncountyor.gov — First Home Homeownership Program, ownwell.com — Sherwood Property Tax Analysis
