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Oregon Helps First-Time Home Buyers

Tiia Monto, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=32343945

Home prices are getting so high, it's becoming harder for people to afford buying their first homes.  So the state of Oregon is stepping in with its First-Time Home Buyer Savings Account, effective at the beginning of this year. 

Participants can have money taken out of their paychecks--up to $5,000 a year for individuals and $10,000 for couples--to save for down payments and other housing costs.  And it's not strictly limited just to first-timers.  Rich Hoover from the Oregon Department of Revenue explains how it works.  
 

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The Jefferson Exchange is Jefferson Public Radio's daily talk show focused on news and interests across our region of Southern Oregon and Northern California. Angela Decker is the senior producer, Charlie Zimmermann is the assistant producer, and Geoffrey Riley hosts the show.