Finance
An Oregon homebuyer wants to use an Oregon Bond Residential Loan. This program is administered by:
AFannie Mae and Freddie Mac
BOregon Housing and Community Services (OHCS)✓ Correct
CThe Federal Housing Administration
DThe Oregon Real Estate Agency
Explanation
The Oregon Bond Residential Loan Program is administered by Oregon Housing and Community Services (OHCS). It offers below-market interest rates to qualifying first-time homebuyers and moderate-income buyers in Oregon.
People Also Study
Related Oregon Questions
- Oregon Housing and Community Services (OHCS) provides:Finance
- Oregon's 'Homebuyer Education' program requires first-time buyers using certain state programs to:Finance
- What is the function of the Oregon Housing and Community Services (OHCS) agency?Finance
- Under Oregon law, buyers of residential property have the right to conduct an environmental investigation as part of their due diligence. If the seller refuses to allow testing for known soil contamination, the buyer should:Environmental
- Under Oregon law, a seller of residential property built before 1978 must provide which federal disclosure to buyers?Environmental
- Oregon's 'Middle Housing' law (HB 2001, 2019) requires cities with populations over 25,000 to allow up to how many units on any residential lot?Land Use & Zoning
- Oregon's coastal zone management program is administered under the federal Coastal Zone Management Act (CZMA). In Oregon, the state's coastal program includes:Environmental
- A first-time Oregon homebuyer hears about 'below market rate' first mortgage programs. Oregon's first-time homebuyer programs often include:Finance
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Math Concepts
Study This Topic
Practice More Oregon Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oregon Quiz →