Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Lake Oswego, OR

Quick answer

First-time buyers in Lake Oswego, OR can use 3%-down conventional loans (up to the $832,750 Clackamas County conforming limit), 3.5%-down FHA, or VA and USDA where eligible. On the $894,000 median home, 3% down is about $26,820 and the estimated payment is $6,937/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $140,441; value-to-income ratio 6.37. Lake Oswego ranks 1 by home value and 14 by population among 68 places in our OR dataset.

What does a first-time buyer loan cost on a typical Lake Oswego home?

ItemLake Oswego
Median home value (Census ACS)$894,000
Oregon median home value$454,200
Down payment (3%)$26,820
Loan amount$867,180
Estimated monthly payment (PITI + MI)$6,937
Income needed (28% / 36%)$298,000 / $232,000
Clackamas County 2026 conforming limit (1 unit)$832,750
Max purchase price at the limit$858,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Oregon's 0.83% effective property tax rate (Census ACS), $1,003/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Lake Oswego?

Lake Oswego is in Clackamas County. Conventional 3%-down loans go up to the $832,750 conforming limit (price ≈ $858,000); FHA loans go up to $701,500.

The Lake Oswego median home value of $894,000 is 97% above the Oregon median, and above what the county limit supports.

Which down payment assistance programs can Lake Oswego buyers use?

No applicable programs have been verified for this city yet. Check the state housing finance agency for current assistance.

First-time buyer loans in nearby cities

Oak GroveTigardWest LinnMilwaukieTualatinOatfield

First-time buyer loan FAQs for Lake Oswego

On the $894,000 median: 3% conventional ≈ $26,820, 3.5% FHA ≈ $31,290, and 0% for eligible VA or USDA buyers. Conventional loans above $832,750 in Clackamas County become jumbo loans.

At the $894,000 median value (above the Oregon median of $454,200), the estimated payment of $6,937/month at 7.18% needs about $298,000 a year under the 28% housing guideline, or $232,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 0 statewide programs are verified for this city (0 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Lake Oswego

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.