Top 5 FHA Lenders in Oregon 2019
Home Buyers looking for the best lenders in Oregon have a lot of shopping around to do. Oregon is home to around 4.1 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased roughly 6 percent between December of 2017 through 2018 and are forecasted to rise another 1% through 2019.
The upward trend of rising home values makes it the prime time for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Oregon and how they can help you on your quest to home ownership.
2019 Oregon FHA Lender Best Picks
Best for First Time Home Buyers: Evergreen Home Loans
Best Online Experience: Quicken Loans
Best Local Lender: Willamette Valley Bank
Best Face-to-Face Experience: Pacific Residential Mortgage
Best Overall Performance: Guaranteed Rate
#1 Oregon FHA Lender: Willamette Valley Bank
Headquartered in Portland, Oregon, Willamette Valley Bank consistently ranks near the top when it comes to FHA lenders in the Beaver State. Potential borrowers will be reassured to know that it’s a truly local bank with nearly 20 years of mortgage lending experience. Plus, Willamette Valley Bank has 12 locations across the state of Oregon, with 5 more locations across the neighboring states of Washington and Idaho. Plus, the bank was ranked one of the best companies to work for in Oregon-- and, when a company treats its employees right, it’s usually a very good sign that they’ll treat their customers well, too.
Like a lot of FHA lenders, Willamette Valley Bank also can offer borrowers VA loans, USDA loans, and conventional loans, so even if you decide that an FHA loan isn’t the right choice for you, the bank can still help you achieve home financing. Plus, unlike many lenders, the bank offers Fannie Mae HomeReady mortgages, a prime competitor to the FHA 203(k) purchase/refinance and rehabilitation program.
#2 Oregon FHA Lender: Pacific Residential Mortgage
Pacific Residential Mortgage, based in Lake Oswego, Oregon, is also one of the highest rated lenders in the Beaver State. Since 2004, the company has focused on providing top-tier customer service as well as competitive mortgage rates to their clients. According to their website, Pacific Residential Mortgage isn’t just focused on selling loans-- they truly want to help their customers achieve their personal and professional goals. Plus, unlike many other lenders, the company focuses a lot on giving back to the community by supporting charities including the Boys and Girls Club, the Oregon Food Bank, and the American Cancer Society.
With that type of dedication to their customers and their community, borrowers should rest assured that the company has their best interests in mind. Plus, the company has 13 branches across Oregon, as well as branches in Washington and Idaho, so if you want to talk to an experienced mortgage professional in person, you won’t have to go far.
#3 Oregon FHA Lender: Evergreen Home Loans
With 8 locations in the state of Oregon, Evergreen Home Loans is one of the fastest growing and highest rated FHA lenders in the state. In fact, Evergreen is also one of the fastest growing lenders in the West and Pacific Northwest, with nearly 40 offices in the state of Washington and a growing number of locations in California, Nevada, and Idaho. Unlike a lot of FHA lenders, Evergreen Home Loans offers FHA 203(k) loans for home purchase/refinance and renovation, which allows borrowers to buy or refinance and rehabilitate their home with just one loan. Also, unlike some smaller lenders, Evergreen has a fast and easy online loan application that can help you get the mortgage process started with as little hassles as possible.
#4 Oregon FHA Lender: Guaranteed Rate
Guaranteed Rate is one of the most reputable and fastest growing FHA lenders in the U.S., so it’s no one that we keep mentioning it on these lists. While the company has a somewhat smaller profile in Oregon that in many other states-- it only has 2 offices in the Portland area, that shouldn’t dissuade borrowers from getting a loan here. Much like Quicken Loans, Guaranteed Rate is known for its quick and easy online mortgage application, which can make getting approved for a home loan a breeze.
#5 Oregon FHA Lender: Quicken Loans
Just about a year ago, Quicken Loans became the largest residential mortgage lender in the U.S., and there’s a good reason why. Its online mortgage application process is faster and easier than almost any other company in America, and its online and phone-based service representatives are known to offer great service. Despite those plusses, Quicken Loans isn’t ideal for every FHA loan borrower-- as they don’t really prioritize in-person meetings and interactions. Therefore, if you want to get a slice of pie with your local mortgage broker, Quicken Loans might not be the lender for you.
Shop Around Before You Get an Oregon FHA Loan
Our picks for the best FHA lenders in Oregon may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!