Updated · Mike Certo, NMLS #260555
Oregon Mortgage Programs
Cornerstone First Mortgage originates Oregon mortgages through Mike Certo and his team of seasoned Oregon-licensed loan officers. Below is the full menu we run for buyers from Portland and Beaverton to Bend, Medford, and the coast. Each program is explained briefly with the key facts. For county income limits, FICO requirements, or a read on your own scenario, request more information below or call (480) 296-6513.
Oregon Down Payment Assistance
We originate national DPA directly (Chenoa Fund, Arrive Home, Essex/NHF). Oregon's lead state program is OHCS Flex Lending, 4% or 5% of your loan amount, forgivable at or below 80% of area median income and repayable above it, but it closes only through OHCS-approved lenders, and Cornerstone First Mortgage is not one; we map it honestly alongside community-organization grants up to $60,000, Portland's city loan up to $100,000, and national options. See the full Oregon DPA guide.
Oregon state and local programs
- OHCS Flex Lending (FirstHome/NextStep): 4-5% of the loan amount, 620 minimum score, income limits set by county from Multnomah to Klamath.
- OHCS community-organization grants: up to $60,000 or 20% of price through OHCS-funded local nonprofits, funding-dependent.
- Portland Housing Bureau DPA Loan: $80,000 to $100,000, 0% interest, 30-year deferred, via a PHB community partner.
- Salem match + Oregon IDA: Salem's deferred match runs up to $6,500 ($7,500 with a homebuyer-ed course), and the Oregon IDA Initiative matches $3, $5 per $1 saved through providers like Portland Housing Center and DevNW.
National DPA programs (also available for Oregon buyers)
- Chenoa Fund: FHA-paired DPA we originate directly for Oregon buyers, in both repayable and forgivable structures depending on income and credit.
- Arrive Home: national DPA for low-to-moderate income Oregon buyers, including an ITIN borrower path for Gresham and Hillsboro families.
- Essex Mortgage / NHF: multi-tier DPA pairing for FHA, VA, USDA, and conventional loans, a common backstop when OHCS funding is tight.
One DPA program per transaction. Specific eligibility varies, confirm during the consult.
Buy Before You Sell (BBYS)
Bridge financing for the move-up Oregon buyer who wants the next home before the current one sells. In a tight Portland-metro or Bend market, a contingent offer loses to a clean one, so Cornerstone's BBYS program lets your buyer write clean and we underwrite the bridge against equity in the existing Lake Oswego or Beaverton home plus the new purchase.
- Common scenario: a Hillsboro seller won't take a contract contingent on buyer sale (CCBS); the bridge removes that contingency so the offer competes.
- Process: we underwrite the bridge alongside the new purchase mortgage and close the two concurrently or near-concurrently.
- Audience: move-up owners across the Willamette Valley plus listing agents who need a stuck CCBS deal to actually close.
Self-Employed Loans
Oregon has a deep bench of small-business owners, and their tax returns understate real income because of legal deductions. Standard underwriting punishes that. We run the alternative paths instead: bank-statement loans (12 or 24 months) for a Bend restaurateur, 1099 loans for a Portland gig worker, and asset-qualifier loans that lean on liquid reserves rather than reported income.
- Bank statement loans: qualify a Beaverton consultant on 12 or 24 months of business deposits with an expense-factor adjustment, not deposit gross.
- 1099 loans: for Oregon contractors, gig workers, and real estate agents who earn on 1099s and qualify on that documented income.
- Asset-qualifier loans: qualify a retiree in Eugene on liquid assets (cash, brokerage, retirement) divided over an asset-utilization period.
Jumbo & Medical Professionals
Loan amounts above Oregon's 2026 conforming limit of $832,750, which applies in all 36 counties since none is designated high-cost: full doc, alt doc, super jumbo above $2M, plus the standout Medical Professionals program. It reaches up to 100% LTV with no PMI for physicians and dentists. Portland metro and Bend carry Oregon's deepest jumbo markets, and Medical Professionals is a frequent path for doctors at OHSU, Providence Health, Legacy Health, and Kaiser Permanente Northwest.
- Medical Professionals eligible: for an OHSU resident or a Bend dentist, eligible credentials include MD, DO, DDS, DMD, DPM, DVM, PharmD, Ophthalmology MD/DO, Psychiatry MD/DO, and CRNA with DNAP/DNP.
- LTV tiers: on a Portland-metro purchase, up to 100% LTV at $1.5M with FICO 680, 100% at $2M with FICO 720, and 95% at $2M with FICO 680.
- Student loan exclusion: deferred and income-based-repayment student loans drop out of DTI for OHSU and Legacy residents and fellows on resident income.
Investor & DSCR Loans
For investors buying Oregon rental property, DSCR loans qualify on the unit's rent rather than your personal income. We finance below a 1.0 DSCR ratio, and those sub-1.0 scenarios sit squarely on our investor menu. Bend, Hood River, and the coast run strong short-term-rental demand, so we carry Airbnb and VRBO-specific products for those markets.
- DSCR loans: a Portland duplex or a Salem single-family rental qualifies on its own rent versus debt service, not your paystub.
- Below 1.0 DSCR: we finance sub-1.0 deals, common on Bend cabins carrying a mortgage above current rent; ask us to run your specific numbers.
- Short-term rental specific: Airbnb and VRBO-targeted DSCR products with underwriting built for Hood River and Cannon Beach STR income.
First-Time Home Buyer Loans
FHA, USDA, and conventional loans with a low down payment, built for the Gresham or Medford buyer with real-life income and credit rather than a perfect-paper file. Our complete Oregon first-time home buyer guide walks through loan types, the 2026 county loan limits, and how Measure 5/50 keeps property taxes from resetting when you buy.
- FHA: 3.5% down, 580+ FICO published (620+ practical overlay); 2026 limits run $701,500 in Portland metro, $718,750 in Deschutes County (Bend), and $762,450 in Hood River.
- USDA: zero down across USDA-eligible Oregon, which covers most of the state outside the Portland, Salem, and Eugene cores.
- Conventional 97: 3% down, 620+ FICO, useful under the $832,750 conforming ceiling that holds in every Oregon county.
Find the Oregon program that fits
Call (480) 296-6513 for a free consult, or send your scenario through the form below. Whether you're weighing OHCS Flex Lending in Salem, a jumbo purchase in Bend, or a DSCR rental in Portland, Mike and his team read every Oregon file and call you back shortly. No commitment, no salesy follow-up, just an honest read on what's possible.