Best of
Best Oregon Housing and Community Services Lenders of 2019
NerdWalletMay 23, 2019
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
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.
Min. Credit Score
620
Min. Down Payment
3%
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-amount loans.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
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.
National / Regional
National
Min. Down Payment
3%
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.
at US Bank
at US Bank
Min. Credit Score
620
Min. Down Payment
3%
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.
Summary of Best Oregon Housing and Community Services Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
 Fairway | online convenience | N/A | 3% | Read review |
US Bank at US Bank | online convenience | 620 | 3% | at US Bank |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
loanDepot at loanDepot | first-time home buyers | 620 | 3.5% | at loanDepot |
Fairway | online convenience | N/A | 3% | Read review |
US Bank at US Bank | online convenience | 620 | 3% | at US Bank |
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 May 23, 2019
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 2019
- Guild Mortgage: Best for first-time home buyers
- loanDepot: Best for first-time home buyers
- Fairway: Best for online convenience
- US Bank: Best for online convenience
