Buying your first home in Bend is an adventure. Between the world-class trails, the craft breweries, and the mountain views, it’s easy to see why you’ve chosen to plant roots here. This Bend First-Time Buyer Guide will help you navigate the unique real estate market. However, the Bend real estate market is unique, and for first-time buyers, it can feel a bit like navigating a mountain pass in a snowstorm.
At Bend Relo, we want to make sure your journey to homeownership is as smooth as a bluebird day at Mt. Bachelor. Here is our guide to the programs that can help you and the pitfalls you’ll want to avoid.
1. Programs to Help You Get the Keys
Many first-time buyers think they need a 20% down payment, but in 2025, there are several local and state programs designed to lower that barrier.
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OHCS Flex Lending & Cash Advantage: Oregon Housing and Community Services (OHCS) offers programs that provide competitive interest rates and down payment assistance (DPA). Their “Cash Advantage” can provide up to 3% of your loan amount to help cover closing costs.
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The 3% Down Conventional Loan: If you have a solid credit score (typically 620+), you may qualify for a conventional loan with as little as 3% down.
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USDA Loans: While Central Oregon is growing, some areas on the outskirts of Bend (and nearby towns like La Pine or Redmond) may qualify for USDA loans, which offer 0% down payment for eligible low-to-moderate-income buyers.
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First-Time Home Buyer Savings Account (FTHBSA): Oregon allows you to set up a dedicated savings account where the interest earned is tax-deductible on your state returns—a great way to grow your down payment faster.
2. Common Pitfalls to Avoid
Even with the right program, the “Bend Factor” can lead to some common mistakes. Here’s how to stay ahead of them:
Pitfall #1: Waiting to Get Pre-Approved
In Bend’s competitive market, a pre-approval isn’t just a suggestion; it’s your ticket to the game. Many “hot” homes go pending quickly. Without a pre-approval letter in hand, you might lose your dream home to a buyer who was ready to pull the trigger.
Pitfall #2: Forgetting the “Extra” Costs
Your mortgage is only one part of the equation. In Bend, you need to budget for:
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Closing Costs: Usually 2–5% of the home price.
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HOA Fees: Many newer Bend neighborhoods (like Northwest Crossing or Larkspur) have monthly or annual dues.
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Maintenance: Think about snow removal or irrigation startup in the spring.
Pitfall #3: Skipping the Inspection
When you find a house you love, it’s tempting to waive the inspection to make your offer more attractive. Don’t do it. Bend homes deal with extreme temperature swings and volcanic soil, which can impact foundations and pipes. A professional inspection is a small price to pay for peace of mind.
Pitfall #4: Shopping at Your Maximum Limit
Just because a lender says you can afford an $800,000 home doesn’t mean you should buy one. We recommend keeping your total housing payment under 30% of your gross income so you still have plenty of “fun money” for lift tickets and gear.
The Bend Relo Advantage
The local market is shifting toward a more balanced state, with inventory up about 11% compared to last year. This means you have more time to breathe and negotiate than buyers did a few years ago.
Ready to start your search? We’d love to help you find a place that fits your lifestyle. Would you like us to send you a list of currently available homes in Bend that qualify for down payment assistance?
