Central Oregon residents gain access to $7.44M in down payment assistance

CENTRAL OREGON, Ore. (KTVZ) — Thistle & Nest is offering $7.44 million in down payment assistance and an innovative land trust model to residents in Central Oregon. The program aims to help the local workforce transition from renting to owning by addressing financial barriers to homeownership.

Opportunities are available in Bend, Madras and Prineville, providing a vital pathway to stability for area residents.

The program significantly lowers the purchase price for eligible buyers by holding the land beneath a home in a trust and selling only the dwelling. This model, combined with down payment assistance, allows households to build equity and long-term wealth within their communities.

Qualified homebuyers can receive between $50,000 and $215,000 in down payment assistance through Thistle & Nest.

Amy Warren, board president of Thistle & Nest, emphasized the program's purpose. "Our goal is to provide a bridge between the rental market and traditional homeownership," Warren said. "If you are renting, you are already paying a mortgage - it just happens to be your landlord's. Use our down payment support to purchase one of our homes, and you can start treating your mortgage like an interest-bearing savings account."

Eligible buyers must earn less than 80% of the Area Median Income. There is also a special program designed for veteran households to make buying a home more accessible.

Homeowners benefit from a fixed rate of return, which ensures the home remains affordable for future buyers while the current owner builds necessary equity for their financial growth.

The program is open to buyer-ready households that meet income requirements and can secure a mortgage through a qualified lender. Thistle & Nest partners with local organizations such as NeighborImpact to provide education and resources for navigating the lending and purchasing process.

Interested applicants are encouraged to review eligibility criteria and current community offerings by visiting thistleandnest.org.