BEST OF

5 Best Oregon Housing and Community Services Lenders of 2021

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.

NerdWalletJan 19, 2021

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If you’re a first-time home buyer in Oregon, you may be eligible for help through OHCS to make your homeownership dream come true.

OHCS offers mortgages with below-market interest rates as well as grants to help with down payments and closing costs.

Your first step is to contact a participating lender to see if you qualify. We’ve highlighted our top-reviewed lenders in two categories and listed several other participating lenders we haven’t reviewed. All of the lenders do a lot of business in Oregon.

» MORE: Learn about OHCS first-time home buyer programs

If you’re a first-time home buyer in Oregon, you may be eligible for help through OHCS to make your homeownership dream come true.

OHCS offers mortgages with below-market interest rates as well as grants to help with down payments and closing costs.

Your first step is to contact a participating lender to see if you qualify. We’ve highlighted our top-reviewed lenders in two categories and listed several other participating lenders we haven’t reviewed. All of the lenders do a lot of business in Oregon.

» MORE: Learn about OHCS first-time home buyer programs

Summary of Best Oregon Housing and Community Services Lenders of 2021

Lender	NerdWallet Rating	Min. Credit Score	Min. Down Payment	Learn More
Guild Mortgage: NMLS#3274 Read review	3.5/5 Best for first-time home buyers	620	3%	Read review
loanDepot: NMLS#174457 Learn more at loanDepot	3.5/5 Best for first-time home buyers	620	5%	Learn more at loanDepot
Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage	4.0/5 Best for online convenience	620	3%	Learn more at Fairway Independent Mortgage
US Bank: NMLS#402761 Read review	5.0/5 Best for online convenience	620	3%	Read review
Homebridge: NMLS#6521 Read review	3.5/5 Best for online convenience	620	3%	Read review

Read review

Guild Mortgage: NMLS#3274

3.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.
Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

Does not offer home equity loan products.
Average interest rates and fees are higher than other lenders.

Read Full Review

Learn more

at loanDepot

loanDepot: NMLS#174457

3.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

5%

Learn more

at loanDepot

Why we like it

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

Offers digital income, asset and employment verification.
Offers multiple renovation loan options.
Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

Mortgage rates aren't available online; you'll need to contact a loan officer.
Does not offer home equity loans or lines of credit.

Read Full Review

Learn more

at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

4.0

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

3%

Learn more

at Fairway Independent Mortgage

Why we like it

Good for: borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

Offers a robust suite of loan products, including a variety of renovation loans.
Has a digital application that can be completed in 10 minutes.
Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

Mortgage rates aren't posted online.

Read Full Review

Read review

US Bank: NMLS#402761

5.0

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

U.S. Bank gets high marks for its loan offerings and online customer conveniences — and has competitive fees and mortgage rates.

Pros

Offers a full line of conventional and government loan products.
Provides home equity loans and lines of credit.
Allows borrowers to apply and track their loan's progress online.

Cons

No personalized mortgage rates available online.
Published mortgage rates assume an above-average credit score.

Read Full Review

Read review

Homebridge: NMLS#6521

3.5

NerdWallet rating

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.

Pros

Offers a full array of mortgage products, including government and renovation loans.
Has loans for most purposes, including purchase, refinance and jumbo mortgages.
Online portal keeps borrowers up-to-date on the loan application's progress.

Cons

Doesn't post interest rates on its site.
Doesn’t offer home equity loans or lines of credit.

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.

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.

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.

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. 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 2021

Guild Mortgage: Best for first-time home buyers
loanDepot: Best for first-time home buyers
Fairway Independent Mortgage: Best for online convenience
US Bank: Best for online convenience
Homebridge: Best for online convenience