Home Loan Options in the State of Oregon
Oregon, the 33rd state to join the Union, is known for its beautiful landscapes and waterways. If you're interested in buying a home in the Beaver State, our regional team of home loan specialists is ready and waiting to help teach you about all aspects of the Oregon home purchase process. Currently, the Oregon median home value is $359,500, which is substantially more expensive than the U.S. median home listing price of $261,500.
One of the priciest places to purchase a home in Oregon is Lake Oswego, where the median listing price is currently $775,000, more than two times the statewide median. Another somewhat expensive area to buy a home is Portland, Oregon's largest city, where the median home listing price sits at $450,000, almost $100,000 more than the statewide median. In comparison, some more affordable Oregon cities include Springfield, with a median home listing price of $239,900, and Eugene, with a median home listing price $318,975.
Here at home.loans, our team's one and only goal is to help educate you -- so you can make smart financial decisions throughout the entire home purchase process. Whether you're interested in utilizing a special loan program like a USDA, VA or FHA loan, are interested in getting an energy efficient mortgage, or want to access the equity in your home via a home equity loan or HELOC, we want to guide you through every single step of your home buying journey.
Best Oregon Mortgage Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for conventional, FHA, and VA financing across the country. Home buyers will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitating a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining a mortgage loan at a great rate in a stress-free environment.
Best Oregon Mortgage Refinance Lender: Guild Mortgage Company
No matter the industry, 50 years of experience is quite impressive. For Guild Mortgage Company, 50 years of experience has shaped them into a formidable source for home financing, including the origination and refinancing of Conventional, FHA, and VA home loans.
Guild Mortgage now has over 250 branch locations across the nation, and remain committed to their goal of providing affordable home financing and unparalleled service. They even take things a step further by partnering with such well-known charities like Blue Star Mothers, K.I.D.S. and Youth oasis, and even the San Diego Food Bank.
The home buying experience with Guild Mortgage Company is a seamless and stress-free process, orchestrated by some of the most experienced and knowledgeable loan officers in the industry.
Best Oregon FHA Mortgage 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.
Best Oregon VA Mortgage Lender: Academy Mortgage Corporation
Academy Mortgage Corporation has been around since 1988, and has made a name for themselves on a national scale. The company is committed to responsible lending practices, especially with the ever-changing economy of today.
Unlike many mortgage brokers around, Academy Mortgage Corporation has the advantage of being a direct mortgage lender. This means that they handle all loan processing, underwriting, closings, and funding at their local branch offices.
Being a direct lender, means being able to close mortgage loan transactions as efficiently and quickly as possible, sometimes even in a matter of days! With the security and efficiency of their in-house loan origination and management, they are one of the best when it comes to speedy and affordable VA financing!
Best Oregon Home Equity Lender: U.S. Bank
With a history dating all the way back to 1863, U.S. Bank is the farthest thing from the new kid on the block. Its strong presence in today’s mortgage market as the country’s fifth largest bank is a testament to their deep commitment to providing affordable HELOCs and home equity loans with excellent service.
U.S. Bank offers both home equity loans as well as HELOCs. Their home equity loan offering is a fixed rate HEL with a term of up to 30 years, while their HELOC product has a variable interest rate coupled with a draw period of 10 years.
U.S. Bank is well known for its knowledgeable staff and expert loan officers. Chances are, no matter what a borrower’s financial situation may look like, they can come up with an affordable home equity solution.
Experience often trumps trendy advancements, and the face-to-face personalized mortgage services offered by U.S. Bank are a shining example of this. Home buyers never have to worry about a lack of communication or being rushed, and will be treated with the same respect and due diligence as their big-name clients.
Shop Around Before You Get an Oregon Home Loan
Our picks for the best mortgage 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. 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 mortgage solution 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 mortgage lender in your area, don't hesitate to contact a home.loans mortgage expert!