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4 Best Oregon Housing and Community Services Lenders of 2020

NerdWalletJanuary 2, 2020

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Oregon Housing and Community Services offers lower mortgage rates, plus down payment and closing cost assistance grants. Here are some of the agency's top participating lenders.

Summary of Best Oregon Housing and Community Services Lenders of 2020

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Guild Mortgage

Guild Mortgage

NerdWallet rating 
Read review

first-time home buyers

620

3%

Read review
loanDepot

loanDepot

NerdWallet rating 
Read review

first-time home buyers

620

3.5%

Read review
Fairway Independent Mortgage

Fairway Independent Mortgage

NerdWallet rating 

at Fairway

online convenience

620

3%

at Fairway

US Bank

US Bank

NerdWallet rating 
Read review

online convenience

620

3%

Read review
Logo
Read review

Guild Mortgage: NMLS#3274

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.

Pros

  • Works with loan programs offered by state and local housing agencies.

  • Specializes in mortgages for first-time home buyers.

  • Almost half of its loans are low-down-payment government mortgages.

  • Considers alternative credit, such as history of payments on rent and utilities.

Cons

  • With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.

  • Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.

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loanDepot: NMLS#174457

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Min. Credit Score

620

Min. Down Payment

3.5%

Read review

Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

  • Offers digital income, asset and employment verification.

  • Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.

  • One of the nation’s most active lenders of FHA and VA loans.

Cons

  • Published mortgage rates include up to three points of prepaid interest and fees.

  • Does not offer home equity loans or lines of credit.

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at Fairway

Fairway Independent Mortgage: NMLS#2289

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Min. Credit Score

620

Min. Down Payment

3%

at Fairway

Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

Pros

  • A robust suite of loan products.

  • Licensed in all 50 states.

  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.

  • Mortgage rates not posted on website.

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US Bank: NMLS#402761

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Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Pros

  • Full line of conventional and government loan products.

  • Considers alternative credit data, like utility bills, in some cases.

  • Offers construction and investment-property loans in some areas.

Cons

  • No personalized rates available online.

  • Not all loan products offered are listed on its website.

Read Full Review

More OHCS participating mortgage lenders

These companies haven’t been reviewed by NerdWallet, but they are among the top-volume lenders in Oregon.

American Pacific Mortgage

  • Has branches in Hermiston, Hillsboro, Salem and Sandy.
  • Provides email contact information for loan officers.
  • Has a mobile app for scanning and uploading documents, and getting updates.
  • Does not publish rate quotes online.

Banner Bank

  • Has an online application for preapproval.
  • Has over 50 branches in Oregon.
  • Provides online rate quotes without requiring personal information.
  • Offers “Rate Watch” service, which emails current rates regularly.

Eagle Home Mortgage

  • Offers a wide variety of mortgages.
  • Has online application to get pre-qualified.
  • Does not provide mortgage rates online.
  • Serves Oregon but does not have branches in the state.

HomeStreet Bank

  • Offers a wide range of mortgages.
  • Has online application to start the mortgage process.
  • Has loan officers in seven Oregon cities.
  • Does not provide mortgage rates online.

Pacific Residential Mortgage

  • Has an online chat feature.
  • Has about a dozen branches in Oregon.
  • Has an online application.
  • Does not publish mortgage rates online.

Umpqua Bank

  • Checking account customers may qualify for a $500 credit at closing.
  • Publishes general mortgage rates online.
  • Has local loan officers throughout Oregon.
  • Offers a broad range of home loans.

More from NerdWallet

Last updated on January 2, 2020

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Oregon Housing and Community Services Lenders of 2020

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