First-time buyers · Portland & Vancouver
Your first home, step by step.
Buying a first home in Oregon or Washington comes with its own set of questions, from down payments to school districts to multiple offers. This hub walks you through the process the way Cho-chen runs it: thinking ahead, explaining everything clearly, and following through to the keys.
3%
Conventional loans can start at roughly 3% down for qualified buyers
3.5%
FHA loans can go as low as about 3.5% down
$60K
Oregon DPA reported up to $60K or 20% of price for qualifying first-time buyers
The process
Six steps, and you always know where you stand.
"I lay out what to expect and communicate constantly," Cho-chen says. "Your timely questions let me steer everything toward your goal."
- No. 01
Decide on the 'why'
Where do you want to live, and why? Schools, commute, neighborhood feel? Cho-chen starts every relationship with your list, not her listing inventory.
- No. 02
Get pre-approved
A lender's pre-approval tells you your real budget and makes your offer competitive. Cho-chen will connect you with lenders she trusts and explain every number.
- No. 03
Define must-haves and nice-to-haves
Bedrooms, yard, garage, light, walkability. Rank them before you tour so a charming porch doesn't override your actual needs.
- No. 04
Tour with a strategy
Cho-chen groups showings efficiently, and if you are out of town, she tours for you with video and honest commentary.
- No. 05
Write the offer
Comparable sales, market pace, and your comfort zone set the number. She will show you the data behind the strategy, whether it's one offer or a multiple-offer fight.
- No. 06
Inspect, appraise, close
Inspections, appraisal, and loan milestones are handled step by step. You always know what happens next, and when.
Money help
Down payment help exists. Let's find yours.
Oregon and Washington both offer programs for first-time and first-generation buyers. The details change with funding cycles, so treat this as an overview, then verify with a lender Cho-chen connects you to.
Sources: Oregon Housing and Community Services (oregon.gov/ohcs), the Portland Housing Bureau (portland.gov/phb), and state housing agencies.
- Program 01
Flex Lending, FirstHome & NextStep
Oregon Housing and Community Services runs these below-market-rate mortgage products, with down payment assistance up to 4% to 5% of the loan for qualifying households, including some first-time buyers. A homebuyer education class is required.
- Program 02
OHCS Down Payment Assistance
OHCS also runs a state down payment assistance program; per early-2026 reporting, eligible first-time and first-generation buyers could receive up to $60,000 or 20% of the purchase price, whichever is less. Rules and funding change, so verify current terms.
- Program 03
Portland Down Payment Assistance Loan
Buying inside Portland city limits? The Portland Housing Bureau's DPAL offers qualified first-time buyers a favorable second mortgage, and it requires working with an approved homebuying counselor.
- Program 04
Washington & city programs
Across the river, Washington and local agencies offer their own assistance. Cho-chen's list is a starting point, not the final word, she will point you to the lender who can confirm today's terms.
Who knows the location best?
"Who knows the location best for my first home?" Talk to Cho-chen first.
A first home is a neighborhood bet that lasts years. Cho-chen has spent 14 years walking Portland and Vancouver blocks, matching buyers to the right streets, and troubleshooting the market when offers get competitive.
She also speaks Mandarin and English, which makes the whole process far easier for families who are new to the U.S. and new to the American buying system at the same time.
Questions buyers ask before calling
Straight answers, no small print.
Do I need a realtor to buy my first home?
Not legally, but you should want one. A buyer's agent costs you nothing out of pocket in most transactions, because the seller typically pays the commission. You get market data, negotiation, inspection coordination, and someone who has done this hundreds of times. For a first purchase, that experience is worth real money.
How much do I actually need for a down payment?
Conventional loans can work with as little as 3% down, FHA loans around 3.5%, and Oregon has down payment assistance programs that can cover part or all of the down payment for qualifying buyers. The bigger questions are your monthly payment and total closing costs, which Cho-chen will walk you through before you fall in love with a house you can't afford.
What if my credit is not perfect?
It is rarely fatal. With 14 years of deals, Cho-chen has seen buyers improve their credit scores in months with the right plan. A good lender will show you exactly what to pay down and when to clear the path before you look.
Can I buy while I am still renting?
Yes, and most first-time buyers do. The key is timing: your lease end, your closing date, and a little cushion for overlap. Cho-chen plans the calendar backwards from your ideal move-in date so you are never paying double rent for months.
Should I wait for prices to drop?
Timing a market is a gamble; time in a home builds equity. The better question is whether you can afford the payment today, and whether the home fits your next five to seven years. If yes, waiting usually costs more in rent than it saves in price.
Need more?
Every buyer's situation is different. Bring your questions to a conversation and get answers specific to your income, credit, and timeline.
Book a chatBuyers
Let's map out your first purchase.
Share where you want to live and your timeline. Cho-chen will come back with the road ahead.
- Call or text (971) 235-6535
- Email re99chochenf@gmail.com
- Brokerage MORE Realty 10121 SE Sunnyside Rd Ste 300, Clackamas, OR 97015