Oregon Veterans

In 2023, the Maximum Loan Limit for Oregon Veterans Will Rise

Oregon Veterans: The Federal Housing Finance Agency establishes maximum loan amounts for mortgages each year, and the Oregon Department of Veterans Affairs (ODVA) will raise the maximum loan amount for the Oregon Veteran Home Loan in 2023 so that it is in line with these maximums (FHFA). For financing on or after January 1, 2023, the ODVA will now take loans up to the new maximum loan amount of $726,200, which is an increase of $79,000 over the previous maximum loan amount of $647,200 in 2022.

Oregon Veterans

Maximum Loan Limit for Oregon Veterans Will Rise

The Oregon Veteran Home Loan Program offers qualified veterans a fixed-rate mortgage option when purchasing a single-family home in Oregon for their primary residence. Any qualified veteran who served their country in Oregon may use the veteran home loan product an unlimited number of times during their lifetime. This benefit never expires. This program is only available for new purchases; existing loans cannot be refinanced in any way.

This state benefit is not connected to or part of the federal VA Home Loan Guarantee program. Since 1945, this state benefit has provided more than 336,000 veterans with access to approximately $9 billion in low-interest mortgage loans. A veteran must have served on active duty with one of the United States Armed Forces, as evidenced by their DD-214, and must satisfy one of the service conditions specified on the ODVA website in order to be eligible for the benefits offered by the organization.

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