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Oregon Housing And Community Services Launches Permanent Loan Program - 08/03/26

Expanding financing opportunities to help build more affordable homes across Oregon

 

SALEM, Ore. — Oregon Housing and Community Services (OHCS) just launched its Permanent Loan Program, a new and improved financing tool designed to help affordable housing developments move from construction to completion. By offering competitive, fixed-rate loans, the program fills a critical financing gap, helping developers advance affordable housing projects more efficiently and deliver more homes across Oregon faster. 

 

“If you were to ask most people across the country what their top concerns are, most would define them by the cost of living,” said OHCS Executive Director Andrea Bell. “For too many, it’s keeping them up at night – a home they can afford alongside groceries, gas, and childcare. This program is another way we deliver advanced housing solutions that help make life better.” 

 

Permanent loans are a unique and mission-driven financing tool, offering fixed-rate, first-lien permanent mortgages for affordable housing at lower interest rates and more flexible terms. Unlike construction financing, these loans fund long-term mortgages with proceeds from tax-exempt bonds once a property is stable and operational. The program includes two products: Elderly and Disabled (E&D) bonds, which serve older adults and people with disabilities, and Department of Housing and Urban Development (HUD) Risk Share, which supports households with low incomes.  

 

"There are some good loan products with intentional lenders out there, but it's just not enough at this moment. Interest rates remain high and more capital in the system is needed. When the market cannot support affordable housing access for everyone, public funders have a responsibility to step up and step in,” comments Northwest Housing Alternatives Executive Director, Trell Anderson. “This principle is at the heart of gap financing and applies broadly across affordable housing development and asset management.” 

 

The launch of this reimagined program, which provides direct loans from the state, marks the first time in almost two decades the agency will directly finance long-term mortgages for affordable rental housing development. The program represents the governor’s broader effort to pursue innovative financing solutions and strengthen the state’s ability to address Oregon’s housing needs amid an uncertain federal landscape. 

 

“As President Trump continues to cut services and makes daily needs less affordable, my administration is prioritizing increasing housing production and expanding ways to finance new housing for Oregonians in every corner of the state,” Gov. Tina Kotek said. “Too many families view stable housing as out of reach—I’m working to change that.” 

 

OHCS previously issued $589 million in E&D bonds, supporting 355 developments and more than 7,000 units before pausing permanent lending around 2007 due to market conditions and low interest rates. With growing financing gaps in the market and new legislative direction via Senate Bill 684 (2025), the agency has modernized the program by aligning charges with conduits, enhancing underwriting, and forming a specialized credit committee.  

 

With fixed interest rates lower than comparable private alternatives, the permanent loan program lowers financing costs and boosts project feasibility. By offering flexible prepayment options and allowing mixed-income units, OHCS aims to streamline capital financing for affordable rental housing development and is designed to adapt alongside market shifts.  

 

Watch this video to see how Oregon is meeting this moment by increasing access to affordable housing through programs including the Permanent Loan Program. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Oregon Housing And Community Services Launches Permanent Loan Program - 08/03/26

Expanding financing opportunities to help build more affordable homes across Oregon

 

SALEM, Ore. — Oregon Housing and Community Services (OHCS) just launched its Permanent Loan Program, a new and improved financing tool designed to help affordable housing developments move from construction to completion. By offering competitive, fixed-rate loans, the program fills a critical financing gap, helping developers advance affordable housing projects more efficiently and deliver more homes across Oregon faster. 

 

“If you were to ask most people across the country what their top concerns are, most would define them by the cost of living,” said OHCS Executive Director Andrea Bell. “For too many, it’s keeping them up at night – a home they can afford alongside groceries, gas, and childcare. This program is another way we deliver advanced housing solutions that help make life better.” 

 

Permanent loans are a unique and mission-driven financing tool, offering fixed-rate, first-lien permanent mortgages for affordable housing at lower interest rates and more flexible terms. Unlike construction financing, these loans fund long-term mortgages with proceeds from tax-exempt bonds once a property is stable and operational. The program includes two products: Elderly and Disabled (E&D) bonds, which serve older adults and people with disabilities, and Department of Housing and Urban Development (HUD) Risk Share, which supports households with low incomes.  

 

"There are some good loan products with intentional lenders out there, but it's just not enough at this moment. Interest rates remain high and more capital in the system is needed. When the market cannot support affordable housing access for everyone, public funders have a responsibility to step up and step in,” comments Northwest Housing Alternatives Executive Director, Trell Anderson. “This principle is at the heart of gap financing and applies broadly across affordable housing development and asset management.” 

 

The launch of this reimagined program, which provides direct loans from the state, marks the first time in almost two decades the agency will directly finance long-term mortgages for affordable rental housing development. The program represents the governor’s broader effort to pursue innovative financing solutions and strengthen the state’s ability to address Oregon’s housing needs amid an uncertain federal landscape. 

 

“As President Trump continues to cut services and makes daily needs less affordable, my administration is prioritizing increasing housing production and expanding ways to finance new housing for Oregonians in every corner of the state,” Gov. Tina Kotek said. “Too many families view stable housing as out of reach—I’m working to change that.” 

 

OHCS previously issued $589 million in E&D bonds, supporting 355 developments and more than 7,000 units before pausing permanent lending around 2007 due to market conditions and low interest rates. With growing financing gaps in the market and new legislative direction via Senate Bill 684 (2025), the agency has modernized the program by aligning charges with conduits, enhancing underwriting, and forming a specialized credit committee.  

 

With fixed interest rates lower than comparable private alternatives, the permanent loan program lowers financing costs and boosts project feasibility. By offering flexible prepayment options and allowing mixed-income units, OHCS aims to streamline capital financing for affordable rental housing development and is designed to adapt alongside market shifts.  

 

Watch this video to see how Oregon is meeting this moment by increasing access to affordable housing through programs including the Permanent Loan Program. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Oregon Housing And Community Services Invests In Housing That Helps Children And Young Adults Thrive - 07/23/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) is aligning public and private resources to invest in Oregon’s future by helping children, youth, and families access stable housing, early learning, and supportive services that give young people the foundation to succeed in school and later in life. 

 

Research consistently shows that housing stability is closely linked to educational success. Students experiencing housing instability face significant barriers to learning and graduate at lower rates than their peers. This reality is avoidable. Through investments that pair affordable housing with early learning, rental assistance, and youth-focused supportive housing, OHCS is helping ensure more Oregon children and young adults have the stability they need to learn, grow, and build successful futures. 

 

“The path to a brighter future begins with a stable place to call home,” said OHCS Executive Director Andrea Bell. “Every investment we make in helping young Oregonians thrive is also an investment in stronger communities and Oregon’s future.”  

 

The connection between housing and educational success is increasingly recognized across Oregon. During the 2026 legislative session, House Bill 4149 established state protections to help students experiencing homelessness remain connected to school, recognizing that housing stability plays an essential role in educational achievement and long-term success. 

 

“Housing is part of the solution to most of the big challenges we face as a state, from improving learning outcomes for our kids to creating opportunities for Oregonians to build careers where they grew up,” Gov. Tina Kotek said. “My administration has made access to housing a priority because it lays the groundwork for Oregonians to build a better future for themselves and their families.” 

 

OHCS’ Youth Emergency Housing Assistance (YEHA) program received a $5 million legislative investment in 2023 to house families in rural Oregon who are experiencing housing instability and homelessness, helping reduce barriers that can interrupt learning. This program serves Coos, Klamath, Lincoln, Douglas, and Josephine Counties and has provided families more than 3,000 instances of service like utility assistance, rent assistance, and transportation support. Most households served by YEHA projects can end their homelessness and find permanent housing. 

 

"OHCS in recent years has directly partnered with rural communities to ensure our youth have the resources and pathways to succeed,” said Thomas McGregor, youth and housing project manager at Peace at Home Advocacy Center in Roseburg. “The results have been our communities deepening our partnerships locally and regionally, while collectively envisioning how all Oregon youth are more than adequately supported." 

 

The BuildUp Oregon Initiative, launched through a $10 million legislative investment in 2021, integrates early learning and childcare centers directly into affordable housing developments. Developed in partnership with the Oregon Department of Early Learning and Care, BuildUp Oregon brings together developers and childcare providers to overcome the operational challenges of co-locating childcare with housing communities. 

 

To date, BuildUp Oregon has committed $7.4 million in grants and loans to nine housing projects, leveraging an additional $20 million in public and private investment, about $2.70 for every state dollar invested. The original legislative investment is expected to create almost 600 early care and education slots for Oregon families. 

 

OHCS has also incorporated family-friendly design into its statewide funding process. Through its Qualified Allocation Plan and Oregon Centralized Application, the agency prioritizes developments that include family-sized homes and spaces designed to support families with young children, encouraging affordable housing developers across Oregon to build communities where children and families can thrive. 

 

Several OHCS-financed developments prioritize young adults transitioning from foster care. They pair affordable housing with services such as on-site resource specialists, financial workshops on credit and taxes, and after-hours crisis response tailored to the needs of young residents. 

 

One example is Polk 2.0 Permanent Supportive Housing, a 12-unit development in Eugene created by DevNW, serving youth ages 16-24 who are homeless or at risk of homelessness, with a preference for youth aging out of foster care or other residential care systems.  

 

“Interrupting the cycle of homelessness starts with ensuring young adults have a safe, affordable place to call home. This requires creating affordable housing that welcomes young adults who don’t have a rental or credit history, can’t afford market rate rent, and need support to become confident renters. Dedicated investments in development and services for young adults are critically needed in our communities,” said Emily Reiman, CEO of DevNW. 

 

The agency also administers long-term rental assistance made possible through House Bill 2163, which invested $4.5 million to help Oregonians under age 25 transitioning from foster care, homelessness, behavioral health or treatment facilities, or corrections maintain stable housing.  

 

Together, these efforts move Oregon closer to a future where every child and young adult has the stability, care, and foundation needed to reach their full potential. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Oregon Housing And Community Services Invests In Housing That Helps Children And Young Adults Thrive - 07/23/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) is aligning public and private resources to invest in Oregon’s future by helping children, youth, and families access stable housing, early learning, and supportive services that give young people the foundation to succeed in school and later in life. 

 

Research consistently shows that housing stability is closely linked to educational success. Students experiencing housing instability face significant barriers to learning and graduate at lower rates than their peers. This reality is avoidable. Through investments that pair affordable housing with early learning, rental assistance, and youth-focused supportive housing, OHCS is helping ensure more Oregon children and young adults have the stability they need to learn, grow, and build successful futures. 

 

“The path to a brighter future begins with a stable place to call home,” said OHCS Executive Director Andrea Bell. “Every investment we make in helping young Oregonians thrive is also an investment in stronger communities and Oregon’s future.”  

 

The connection between housing and educational success is increasingly recognized across Oregon. During the 2026 legislative session, House Bill 4149 established state protections to help students experiencing homelessness remain connected to school, recognizing that housing stability plays an essential role in educational achievement and long-term success. 

 

“Housing is part of the solution to most of the big challenges we face as a state, from improving learning outcomes for our kids to creating opportunities for Oregonians to build careers where they grew up,” Gov. Tina Kotek said. “My administration has made access to housing a priority because it lays the groundwork for Oregonians to build a better future for themselves and their families.” 

 

OHCS’ Youth Emergency Housing Assistance (YEHA) program received a $5 million legislative investment in 2023 to house families in rural Oregon who are experiencing housing instability and homelessness, helping reduce barriers that can interrupt learning. This program serves Coos, Klamath, Lincoln, Douglas, and Josephine Counties and has provided families more than 3,000 instances of service like utility assistance, rent assistance, and transportation support. Most households served by YEHA projects can end their homelessness and find permanent housing. 

 

"OHCS in recent years has directly partnered with rural communities to ensure our youth have the resources and pathways to succeed,” said Thomas McGregor, youth and housing project manager at Peace at Home Advocacy Center in Roseburg. “The results have been our communities deepening our partnerships locally and regionally, while collectively envisioning how all Oregon youth are more than adequately supported." 

 

The BuildUp Oregon Initiative, launched through a $10 million legislative investment in 2021, integrates early learning and childcare centers directly into affordable housing developments. Developed in partnership with the Oregon Department of Early Learning and Care, BuildUp Oregon brings together developers and childcare providers to overcome the operational challenges of co-locating childcare with housing communities. 

 

To date, BuildUp Oregon has committed $7.4 million in grants and loans to nine housing projects, leveraging an additional $20 million in public and private investment, about $2.70 for every state dollar invested. The original legislative investment is expected to create almost 600 early care and education slots for Oregon families. 

 

OHCS has also incorporated family-friendly design into its statewide funding process. Through its Qualified Allocation Plan and Oregon Centralized Application, the agency prioritizes developments that include family-sized homes and spaces designed to support families with young children, encouraging affordable housing developers across Oregon to build communities where children and families can thrive. 

 

Several OHCS-financed developments prioritize young adults transitioning from foster care. They pair affordable housing with services such as on-site resource specialists, financial workshops on credit and taxes, and after-hours crisis response tailored to the needs of young residents. 

 

One example is Polk 2.0 Permanent Supportive Housing, a 12-unit development in Eugene created by DevNW, serving youth ages 16-24 who are homeless or at risk of homelessness, with a preference for youth aging out of foster care or other residential care systems.  

 

“Interrupting the cycle of homelessness starts with ensuring young adults have a safe, affordable place to call home. This requires creating affordable housing that welcomes young adults who don’t have a rental or credit history, can’t afford market rate rent, and need support to become confident renters. Dedicated investments in development and services for young adults are critically needed in our communities,” said Emily Reiman, CEO of DevNW. 

 

The agency also administers long-term rental assistance made possible through House Bill 2163, which invested $4.5 million to help Oregonians under age 25 transitioning from foster care, homelessness, behavioral health or treatment facilities, or corrections maintain stable housing.  

 

Together, these efforts move Oregon closer to a future where every child and young adult has the stability, care, and foundation needed to reach their full potential. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Oregon Housing And Community Services Invests In Oregon’s Next Generation Of Builders Through Hands-on Workforce Partnerships (Photo) - 07/15/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) is investing in Oregon’s next generation of builders through partnerships that give young people experience in the skilled trades while helping meet critical housing needs. From expanding affordable housing in Prineville to building emergency shelters for wildfire survivors in Albany, these programs prepare young Oregonians for careers in construction while strengthening communities across the state. 

 

“Building Oregon’s future starts with investing in the people who will build it,” said OHCS Executive Director Andrea Bell. “That's why we're working to give young Oregonians real construction experience while creating lasting benefits for communities.”   

 

As Oregon faces a growing shortage of skilled construction workers and an ongoing need for affordable housing, OHCS is supporting programs that connect young people to careers in skilled trades. By supporting hands-on learning opportunities alongside affordable housing and disaster recovery projects, the agency is helping prepare the workforce needed to build the homes Oregon will rely on for decades to come. 

 

Last month’s Camp Ready2Respond in Albany is one example of one of those programs. At the camp, more than 70 students in the construction track built 10 sheds and shelters that will support families recovering from wildfires. OHCS provided $250,000 in educator scholarships, ensuring teachers had the materials and funds to attend with their students. Team Oregon Build supports the camp in partnership with several state agencies and public and private partners. 

 

Students also received training in building fire-resistant structures, giving them practical skills that can help Oregon communities become more resilient as wildfires become more frequent and severe. 

 

“There’s a big gap in terms of needing young people to move into construction trades and be part of our recovery process,” said Jim Taylor, development and production lead for Disaster Recovery at OHCS. 

 

OHCS is making similar investments through affordable housing developments that provide young people with hands-on construction experience while expanding homeownership opportunities. In 2023, OHCS awarded $1.4 million in Local Innovation and Fast Track (LIFT) funds and $2.4 million in LIFT supplemental funds to Thistle & Nest to develop Solace at Iron Horse, a 20-home affordable homeownership community in Prineville. As part of the project, participants in Heart of Oregon Corps’ YouthBuild program worked alongside construction professionals to help build two homes, gaining hands-on experience and earning industry certifications and practical job skills. 

 

YouthBuild participants installed siding, framing, and windows; completed interior painting; laid flooring; installed trim; and hung doors. The two homes they helped construct are expected to be complete in mid-August. 

 

“Having the kids on the construction site was great for morale,” said Amy Warren, board president of Thistle and Nest. “It creates a culture where experienced professionals want to lead by example and demonstrate good work ethic.” 

 

Together, these investments demonstrate how workforce development and housing can go hand in hand. By connecting young Oregonians to careers in the skilled trades, OHCS is helping build the workforce needed to increase housing production and create economic opportunity for future generations. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Attached Media Files: Heart of Oregon Corps’ YouthBuild participants helped construct two homes in Prineville.,

Oregon Housing And Community Services Invests In Oregon’s Next Generation Of Builders Through Hands-on Workforce Partnerships (Photo) - 07/15/26

SALEM, Ore. — Oregon Housing and Community Services (OHCS) is investing in Oregon’s next generation of builders through partnerships that give young people experience in the skilled trades while helping meet critical housing needs. From expanding affordable housing in Prineville to building emergency shelters for wildfire survivors in Albany, these programs prepare young Oregonians for careers in construction while strengthening communities across the state. 

 

“Building Oregon’s future starts with investing in the people who will build it,” said OHCS Executive Director Andrea Bell. “That's why we're working to give young Oregonians real construction experience while creating lasting benefits for communities.”   

 

As Oregon faces a growing shortage of skilled construction workers and an ongoing need for affordable housing, OHCS is supporting programs that connect young people to careers in skilled trades. By supporting hands-on learning opportunities alongside affordable housing and disaster recovery projects, the agency is helping prepare the workforce needed to build the homes Oregon will rely on for decades to come. 

 

Last month’s Camp Ready2Respond in Albany is one example of one of those programs. At the camp, more than 70 students in the construction track built 10 sheds and shelters that will support families recovering from wildfires. OHCS provided $250,000 in educator scholarships, ensuring teachers had the materials and funds to attend with their students. Team Oregon Build supports the camp in partnership with several state agencies and public and private partners. 

 

Students also received training in building fire-resistant structures, giving them practical skills that can help Oregon communities become more resilient as wildfires become more frequent and severe. 

 

“There’s a big gap in terms of needing young people to move into construction trades and be part of our recovery process,” said Jim Taylor, development and production lead for Disaster Recovery at OHCS. 

 

OHCS is making similar investments through affordable housing developments that provide young people with hands-on construction experience while expanding homeownership opportunities. In 2023, OHCS awarded $1.4 million in Local Innovation and Fast Track (LIFT) funds and $2.4 million in LIFT supplemental funds to Thistle & Nest to develop Solace at Iron Horse, a 20-home affordable homeownership community in Prineville. As part of the project, participants in Heart of Oregon Corps’ YouthBuild program worked alongside construction professionals to help build two homes, gaining hands-on experience and earning industry certifications and practical job skills. 

 

YouthBuild participants installed siding, framing, and windows; completed interior painting; laid flooring; installed trim; and hung doors. The two homes they helped construct are expected to be complete in mid-August. 

 

“Having the kids on the construction site was great for morale,” said Amy Warren, board president of Thistle and Nest. “It creates a culture where experienced professionals want to lead by example and demonstrate good work ethic.” 

 

Together, these investments demonstrate how workforce development and housing can go hand in hand. By connecting young Oregonians to careers in the skilled trades, OHCS is helping build the workforce needed to increase housing production and create economic opportunity for future generations. 

 

About Oregon Housing and Community Services (OHCS) 

OHCS is Oregon's housing finance agency. The state agency provides financial and program support to create and preserve opportunities for quality, affordable housing for Oregonians with low and moderate incomes. OHCS administers programs that provide housing stabilization. OHCS delivers these programs primarily through grants, contracts, and loan agreements with local partners and community-based providers. For more information, please visit: oregon.gov/ohcs. 

Attached Media Files: Heart of Oregon Corps’ YouthBuild participants helped construct two homes in Prineville.,