Oregon legislation · 2026 Legislative Measures
Oregon HB4051: Relating to first-time homeownership; declaring an emergency.
Status: Failed, March 6, 2026
Digest: The Act would have loans made to first-time home buyers to offset closing costs. The Act would make the loan plus interest due when the home is sold, the borrower moves out or, if the home is a mobile home, it is moved out of state. The Act would have the program run for three years. (Flesch Readability Score: 88.1). Creates a program for deferred loans to first-time home buyers in an amount not greater than the lesser of the closing costs on the purchase or one percent of the purchase price. Makes the deferred loans repayable when the home changes ownership, is no longer the homestead of the borrower or, if the home is mobile, is moved out of state. Retires the program after three years. Declares an emergency, effective on passage.
What the bill says
A bill FOR AN ACT Relating to first-time homeownership; and declaring an emergency.
From the introduced text, January 28, 2026:
A BILL FOR AN ACT Relating to first-time homeownership; and declaring an emergency. Be It Enacted by the People of the State of Oregon: SECTION 1. (1)(a) Deferred loans shall be made in accordance with subsection (4) of this section to individuals determined to be eligible under subsection (2) of this section in an amount equal to the lesser of the actual closing costs on the purchase of a homestead, as defined in ORS 311.666, by the individual and one percent of the purchase price of the homestead. (b) Deferred loans shall accrue interest at a rate of six percent simple interest per annum from the date on which the loan is made. (2) An individual is eligible to claim a deferred loan if the (b)(A) Individually owns the fee simple estate of the homestead under a recorded instrument of sale; or (B) If two or more owners live in the property and all owners file a claim jointly, owns the fee simple estate with rights of survivorship under a recorded instrument of sale with all other claimants; (c) Has never previously owned a homestead in any jurisdiction; (d) Purchases the homestead at a price that is not greater than the county median RMV, as defined in ORS 311.666; (e) Pays at least three percent of the purchase price in …
Sponsors
- Eric Reschke (R, 55) · primary sponsor
- Christine Drazan (R, 51) · primary sponsor
- Anna Scharf (R, 23)
- Court Boice (R, 1)
Latest actions
- : In committee upon adjournment.
- : Informational Meeting held.
- : Informational Meeting cancelled.
- : Referred to Housing and Homelessness with subsequent referral to Revenue.
- : First reading. Referred to Speaker's desk.
Common questions
- What is HB4051?
- HB4051 is a bill in the Oregon Legislature (2026 Legislative Measures): Relating to first-time homeownership; declaring an emergency.
- What does HB4051 do?
- In its own words: A bill FOR AN ACT Relating to first-time homeownership; and declaring an emergency.
- What is the status of HB4051?
- Failed as of March 6, 2026. Latest action: In committee upon adjournment. (March 6, 2026).
- Who sponsored HB4051?
- Eric Reschke (R, 55), with 3 co-sponsors.
- Where is the official record for HB4051?
- On the Oregon Legislature website: https://olis.oregonlegislature.gov/liz/2026R1/Measures/Overview/4051
Source: official Oregon record. Tracked by Delilah, AI for legislation across all 50 states and Congress.