BEST OF
10 Best Oregon Mortgage Lenders of 2021
Here are the best Oregon mortgage lenders for a variety of needs.
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.
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
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for low down payments | 620 | 3% | Read review | |
Best for low down payments | 620 | 3% | Read review | |
Best for first-time home buyers | N/A | 3% | Read review | |
Best for first-time home buyers | 620 | 3% | Read review | |
Best for low credit scores | 620 | 3% | at New American Funding | |
Best for in-person service | 620 | 3% | Read review | |
Best for online mortgage lender | 620 | 3% | at Rocket Mortgage by Quicken Loans | |
Best for online mortgage lender | 620 | 3% | at PennyMac | |
Best for home equity lines of credit | 620 | 3% | Read review | |
Best for home equity lines of credit | 620 | 3% | at Chase |
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
National / Regional
National
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
at Rocket Mortgage by Quicken Loans
at Rocket Mortgage by Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
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.
at PennyMac
at PennyMac
Min. Credit Score
620
Min. Down Payment
3%
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.
National / Regional
National
Max LTV
80%
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.
at Chase
at Chase
National / Regional
National
Max LTV
80%
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.
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
- Flagstar: Best for low down payments
- Bank of America: Best for low down payments
- Citibank: Best for first-time home buyers
- Guild Mortgage: Best for first-time home buyers
- New American Funding: Best for low credit scores
- Wells Fargo: Best for in-person service
- Rocket Mortgage by Quicken Loans: Best for online mortgage lender
- PennyMac: Best for online mortgage lender
- US Bank: Best for home equity lines of credit
- Chase: Best for home equity lines of credit
