Best of
10 Best Oregon Mortgage Lenders of 2021
Here are the best Oregon mortgage lenders for a variety of needs.
Jan 26, 2021
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
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.
Best Oregon Mortgage Lenders
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
4.5 /5 | 620 | 3% | Top 3 most visited 🏆 Learn moreat Pennymacat Pennymac | |
 New American Funding: NMLS#6606 Top 3 most visited 🏆 Learn moreat New American Fundingat New American Funding | 4.0 /5 | 580 | 5% | Top 3 most visited 🏆 Learn moreat New American Fundingat New American Funding |
4.0 /5 | 620 | 3% | Learn moreat Rocket Mortgage, LLC at Rocket Mortgage, LLC | |
3.5 /5 | 620 | 3% | ||
4.5 /5 | N/A | 3% | ||
4.0 /5 | 620 | 3% | ||
4.5 /5 | 660 | 5% | ||
4.5 /5 | 620 | N/A | ||
4.5 /5 | 620 | 3% | ||
5.0 /5 | 620 | 3% |
Learn moreat Pennymac
at Pennymac
Why We Like ItGood for: rate-conscious borrowers who want to shop and compare a wide variety of mortgage types online.
Pros
- Rates are on the low side, according to the latest federal data.
- An online tool makes it easy to customize a rate quote online, with no contact information required.
- “Lock & Shop” lets you secure a rate for up to 90 days while you house-hunt, and switch to a lower one if rates drop while you shop.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- Doesn't offer home equity lines of credit or renovation loans.
- Online chat is available only in the logged-in experience.
Learn moreat New American Funding
at New American Funding
Why We Like ItGood for: first-time home buyers, military members and self-employed or underrepresented borrowers.
Pros
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Has a program to enable buyers to make cash offers.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Mortgage origination fees tend to be on the high end.
- Personalized mortgage rates are not available on the website without providing contact information.
Learn moreat Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Why We Like ItGood for: FHA borrowers and others short on down payment cash, as well as home buyers who value convenience over low fees.
Pros
- Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
- Offers the option to work with loan officers by phone if desired.
- Largest FHA lender in the nation.
Cons
- Getting a customized interest rate requires a credit check, which can affect your credit score.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
- Doesn't offer home equity lines of credit.
Why We Like ItGood for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program.
Pros
- Offers a wide variety of loan products, including home improvement loans and mortgages for manufactured homes.
- Has retail branches in most states.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Does not offer home equity loan products.
- Origination fees tend to be higher, according to the latest federal data.
Why We Like ItGood for: Buyers who want to explore low down payment mortgages, including government-backed loans and Citi’s proprietary option.
Pros
- Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
- Offers low rates compared with other lenders, according to the latest data.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Requires help from a loan officer to complete an online mortgage application.
- Customized mortgage rates not available without making contact.
- Doesn’t offer renovation loans, or home equity loans or lines of credit.
Why We Like ItGood for: existing customers of the bank looking for a wide selection of mortgage products, as well as self-employed borrowers and home buyers without Social Security numbers.
Pros
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products, including options for borrowers who work for themselves and those without Social Security numbers.
- Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.
Cons
- Home loans business is broadly focused on bank customers.
- Doesn’t offer home improvement loans, or home equity loans or lines of credit.
- Scandals and government actions have damaged consumer trust in recent years.
Bank of America: NMLS#399802
Min. credit score
660
Min. down payment
5%
National / regional
National
Why We Like ItGood for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.
Pros
- Offers down payment and closing cost assistance programs.
- May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Doesn't offer renovation loans that roll costs into a mortgage.
Why We Like ItGood for: Borrowers, particularly current U.S. Bank customers, seeking to tap into home equity with a rate discount, especially if there is no rush to receive funds.
Pros
- Publishes a sample HELOC rate online.
- Offers a fixed-rate payment option.
Cons
- Charges a fee for early repayment.
- $90 annual fee, waived for borrowers with a certain U.S. Bank checking plan.
Why We Like ItGood for: borrowers who want a wide selection of loan products, an in-person experience and comparatively low interest rates.
Pros
- Carries a wide variety of mortgage types and products, including DreaMaker and Standard Agency mortgages, with down payments as low as 3%.
- Offers low rates compared with other lenders, according to the latest federal data.
- Offers a customizable mortgage calculator for personalized rate and payment estimates.
Cons
- Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
- You have to speak with a home loan adviser to complete the application.
- Home equity lines of credit (HELOC) are currently unavailable.
Why We Like ItGood for: Borrowers who may benefit from Flagstar’s unique loan options, such as ITIN loans, loans for manufactured homes or physician loans.
Pros
- Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
- Offers home equity loans and lines of credit.
- Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
- Interest rates are on the low side relative to other lenders, according to the latest federal data.
- Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
Cons
- Home equity loans are not available in all locations served by Flagstar.
- In 2022, the lender was fined for violating laws regarding properties in flood zones.
Last updated on January 26, 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.
NerdWallet's Best Oregon Mortgage Lenders of 2021
- Pennymac: Best for online mortgage lender
- New American Funding: Best for low credit scores
- Rocket Mortgage, LLC: Best for online mortgage lender
- Guild Mortgage: Best for first-time home buyers
- Citibank: Best for first-time home buyers
- Wells Fargo: Best for in-person service
- Bank of America: Best for low down payments
- US Bank: Best for home equity lines of credit
- Chase: Best for home equity lines of credit
- Flagstar: Best for low down payments
