BEST OF

10 Best Oregon Mortgage Lenders of 2021

Here are the best Oregon mortgage lenders for a variety of needs.

NerdWalletJan 27, 2021
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If you're looking to buy a home or refinance in Oregon, from its rainy coast to its high desert areas, we've done the research. We’ve identified some of the best mortgage lenders for your needs.

Whether you need to make a small down payment, are a first-time home buyer, seek a lender that doesn't mind a low credit score, prefer an online lender, or want to borrow against your home's equity, these mortgage lenders can help.

Summary of Best Oregon Mortgage Lenders of 2021

Flagstar: NMLS#417490

5.0

NerdWallet rating 
Flagstar

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Home equity lending is geographically limited.

Read Full Review

Bank of America: NMLS#399802

5.0

NerdWallet rating 
Bank of America

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Good for: first-time home buyers looking for low-down-payment options and existing customers who may get a discount on fees.

Pros

  • Allows borrowers to apply entirely online.

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

Citibank: NMLS#412915

5.0

NerdWallet rating 
Citibank

National / Regional

National

Min. Down Payment

3%

Why we like it

Good for: borrowers wanting to compare mortgage rates online for a variety of loan options.

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

  • Provides customizable mortgage rates on its website.

  • Offers low rates and fees compared with other lenders.

Cons

  • Charges a mortgage application fee.

  • Requires help from a mortgage loan officer to complete the loan application online.

Read Full Review

Guild Mortgage: NMLS#3274

3.5

NerdWallet rating 
Guild Mortgage

Min. Credit Score

620

Min. Down Payment

3%

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
New American Funding
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at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at New American Funding


Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.

Read Full Review

Wells Fargo: NMLS#399801

5.0

NerdWallet rating 
Wells Fargo

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Wells Fargo has a world-class selection of mortgage products and offers competitive, easy-to-shop rates.

Pros

  • Provides numerous online conveniences, including loan application and process updates.

  • Current rates clearly posted for various loan products.

  • Offers a wide variety of loan types and products.

Cons

  • New applications for home equity lines of credit suspended during COVID-19 crisis.

  • Government actions and scandals have damaged consumer trust in recent years.

Read Full Review
Rocket Mortgage by Quicken Loans
Learn more

at Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage by Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at Rocket Mortgage by Quicken Loans


Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

Read Full Review

PennyMac: NMLS#35953

4.5

NerdWallet rating 
PennyMac

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

PennyMac excels in online capabilities and makes it easy to shop rates online. Average origination fees are higher than other lenders, and home equity lines of credit and jumbo mortgages were suspended due to the COVID-19 pandemic.

Pros

  • Offers a full range of online capabilities, including e-signatures and online loan process tracking.

  • Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

  • Origination fees are higher than the median for all lenders.

  • Doesn't currently offer jumbo mortgages or home equity lines of credit.

Read Full Review

US Bank: NMLS#402761

5.0

NerdWallet rating 
US Bank

National / Regional

National

Max LTV

80%

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
Chase
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at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

National / Regional

National

Max LTV

80%
Learn more

at Chase


Why we like it

Good for: borrowers who want a name-brand bank, with offices in more than half the states, that charges lower rates and fees than many other lenders.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review

Last updated on January 27, 2021

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 Mortgage Lenders of 2021