BEST OF

10 Best Oregon Mortgage Lenders of 2021

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

Dec 1, 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.

Best Oregon Mortgage Lenders

Rocket Mortgage, LLC
Learn more

at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0

NerdWallet rating 
Rocket Mortgage, LLC

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at Rocket Mortgage, LLC


Why we like it

Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service.

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.

  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

  • Doesn't offer home equity loans or lines of credit.

  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Read Full Review
New American Funding
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at New American Funding

New American Funding: NMLS#6606

5.0

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, in some cases.

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

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

Read Full Review
PennyMac
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at PennyMac

PennyMac: NMLS#35953

4.5

NerdWallet rating 
PennyMac

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at PennyMac


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 on the higher end, according to the latest federal data.

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

Read Full Review
Bank of America
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at Bank of America

Bank of America: NMLS#399802

4.5

NerdWallet rating 
Bank of America

Min. Credit Score

620

Min. Down Payment

5%

National / Regional

National
Learn more

at Bank of America


National / Regional

National

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

  • Offers down payment and closing cost assistance programs.

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

  • Offers home equity line of credit, or HELOC.

Cons

  • Doesn't offer renovation loans that roll costs into a mortgage.

Read Full Review
Chase
Learn more

at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

National / Regional

National

Max LTV

80%

Min. Credit Score

620
Learn more

at Chase


Min. Credit Score

620

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 competitive rates, according to the latest data.

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.

Read Full Review

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.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity lending is geographically limited.

Read Full Review

Citibank: NMLS#412915

4.5

NerdWallet rating 
Citibank

National / Regional

National

Min. Down Payment

3%

Why we like it

Good for: existing Citibank customers, as well as borrowers eligible for the low-down-payment HomeRun mortgage.

Pros

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

  • Offers low rates and typical fees compared to other lenders, according to the latest data.

Cons

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

  • Customized mortgage rates not available without making contact.

Read Full Review

Guild Mortgage: NMLS#3274

4.0

NerdWallet rating 
Guild Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Good 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 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.

  • Origination fees tend to be on the higher end, according to the latest data.

Read Full Review

Wells Fargo: NMLS#399801

4.5

NerdWallet rating 
Wells Fargo

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Wells Fargo has a solid selection of mortgage products and offers 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

  • Home equity loans and lines of credit suspended due to COVID-19 are still unavailable.

  • Scandals and government actions have damaged consumer trust in recent years.

  • No home improvement loans offered.

Read Full Review

US Bank: NMLS#402761

4.5

NerdWallet rating 
US Bank

National / Regional

National

Max LTV

80%

Min. Credit Score

620

Min. Credit Score

620

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

Last updated on December 1, 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