Thistle & Nest has $7,440,000 in down payment assistance available for homes in Prineville, Madras, and Bend. Qualified homebuyers can receive between $50,000 and $215,000 in down payment assistance*. Here’s their latest news release:
Thistle & Nest is providing a vital pathway to stability for residents in Central Oregon by offering robust down payment assistance (DPA) and an innovative land trust model. Designed to help the local workforce transition from renting to owning, the program addresses the primary financial barriers preventing households from securing a home in today’s market.
By holding the land beneath a home in a trust and selling only the dwelling, Thistle & Nest significantly lowers the purchase price for eligible buyers. When combined with available down payment assistance, this model allows households to build equity and long-term wealth in the communities where they live and work.
“Our goal is to provide a bridge between the rental market and traditional homeownership,” said Amy Warren, Board President of Thistle & Nest. “A mortgage payment for a Thistle & Nest home is less than market rent for a similar home in your area. If you are renting, you are already paying a mortgage – it just happens to be your landlord’s. Use our down payment support to purchase one of our homes, and you can start treating your mortgage like an interest-bearing savings account. In seven to ten years, that equity can provide the foundation for your next step in the housing market.”
Key Program Highlights for Central Oregon Residents:
● Localized Impact: Opportunities are currently available across Thistle & Nest communities in Bend, Madras, and Prineville.
● Direct Financial Support: Eligible buyers can access DPA to reduce upfront costs, making market-quality homes attainable for those earning less than 80% of the Area Median Income (AMI).
● Veteran Support: Through a special program designed specifically for Veteran households, eligible applicants can receive down payment assistance (DPA) that makes buying a home more accessible and financially achievable.
● Sustainable Equity: Homeowners benefit from a fixed rate of return, ensuring that while the home remains affordable for the next buyer, the current owner builds the necessary equity to support their future financial growth.
Eligibility and Access: The program is open to buyer-ready households that meet income requirements and can secure a mortgage through a qualified lender. Thistle & Nest partners with local organizations like NeighborImpact to provide the education and resources necessary to navigate the lending and purchasing process.
Interested applicants are encouraged to review eligibility criteria and current community offerings by visiting thistleandnest.org.
*Down payment assistance is provided on a sliding scale, as-needed basis. A household’s down payment assistance amount varies depending on the development community, home type, and household loan qualification.
#
About Thistle & Nest Thistle & Nest is a non-profit organization dedicated to creating stable, affordable homeownership opportunities for Oregonians. Through land trust stewardship and financial assistance programs, Thistle & Nest reenvisions affordable housing by offering beautifully designed, energy-efficient homes that empower families to build lasting equity.
