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9 best mortgage lenders in Oregon

Homeownership in Oregon calling to you? We compared more than 90 lenders to bring you the top picks for the Beaver State.

Now is a great time to buy a home in Oregon. Experts forecast that demand for homes across Oregon will continue to grow in 2021, as housing prices in the Bay Area and Seattle remain high and push buyers farther afield. The median value of a house in Oregon is $393,710 as of December 2020.

According to Zillow, home values in Oregon have risen 8.5% in 2020 and are expected to rise 10.4% over the next 12 months. If you’re ready to put down roots in Oregon, our top picks for mortgage lenders can help get you there.

What are the best mortgage lenders in Oregon?

How we picked the best lenders

We handpicked these lenders out of more than 90 lenders that originate home loans in Oregon. These nine lenders made the cut based on a range of factors, including:

  • Interest rates
  • Help for first-time homebuyers
  • Loans for a range of credit scores
  • Excellent customer service
  • Ease of online applications

We also researched real customer reviews from consumer rating sites like Trustpilot, Wallethub and the Better Business Bureau (BBB) in making our selections. To learn more about our process, see Finder’s rating methodology.

Best online experience

Better

See rates
on Better's secure site
Looking for a fast online application minus the hassle of paperwork? Unlike traditional lenders, Better claims it can link directly to your financial accounts to provide an online mortgage preapproval in a matter of minutes. House hunting in Oregon without a loan preapproval can mean missing out to other buyers. If you’re a digital-savvy consumer who appreciates a fast application experience, Better could be the right lender for you.

Best marketplace

LendingTree

See rates
on LendingTree's secure site
If you can't decide which Oregon lender is best for you, LendingTree can help. LendingTree is a free mortgage marketplace that connects you to over 1,500 partnered lenders so you can choose and compare different providers in the state. All you need to do is fill out a form on the LendingTree website. You’ll get a list of different lenders offering a wide range of home loans, including home purchase loans, refinance loans, home equity loans and reverse mortgages.

Best for refinancing

AmeriSave

AmeriSave is an online mortgage lender that offers a wide range of home loans with an emphasis on helping homeowners refinance. AmeriSave’s website advertises current rates and offers a straightforward online application process that you can use to get prequalified and view your refinance rates. And after you've started an application, you’ll be given the option to upload your documents, track your refinance loan’s progress and electronically sign your documents.

Stearns Lending

Stearns Lending offers a wide range of home loans to help borrowers in a variety of financial situations. Whether you’re a first-time homebuyer, an existing homeowner wanting to refinance or a retiree looking to eliminate mortgage payments, Stearns Lending has you covered. It also offers a fast digital loan process for customers looking to apply online or with the Stearn Lending mobile app.

Best for a wide range of credit scores

PennyMac

Finding it challenging to get approved for a loan in Oregon? PennyMac may be able to help. PennyMac is one of the nation’s largest digital mortgage lenders, offering a range of conventional, FHA, VA and flex-term option loans and an online application process. While PennyMac caters to all types of homebuyers, it specializes in helping borrowers with lower credit scores who otherwise may not qualify for a loan in the Beaver State.

Best for customer service

Synergy One Lending

For customer service, Synergy One Lending is consistently ranked at the top. Its Modern Mortgage Experience technology aims to bring together the best of technology and people. Customers report being thrilled with the service, expertise and communication Synergy One loan officers provide. Additionally, the company's proprietary S1 Connect app allows you to apply for a home loan from anywhere, upload documents and check the status of your application right from your mobile.

Best rates

Sovereign Lending Group

Sovereign Lending Group’s goal is to provide the best refinance rates and lowest mortgage payments for its customers. The company claims it will beat virtually any mortgage rate quote — and on average, we found that to be true in Oregon. The company specializes in debt consolidation, cash-out and low rates and is willing to work with borrowers regardless of bad credit, foreclosures or bankruptcy. If you’re looking for a lender that’s willing to work with your less-than-perfect financial history, Sovereign Lending Group may be a great option.

Best regional lender

First Community Credit Union

Would you prefer to give a community lender your business? First Community Credit Union was founded in 1957 and is dedicated to helping its Oregon members with personalized service that focuses on transparency and trust. As specialists in localized service, First Community Credit Union offers competitive mortgage rates and attentive loan officers. The good news is, nearly anyone in the state can join and apply for a home loan through First Community Credit Union, as there are minimal membership eligibility requirements.

Best for first-time homebuyers

CMG Financial

CMG Financial was founded in 1993 and focuses on its original business model and mission of low overheads, competitive pricing and above-par service for new and existing homebuyers alike. If you’re a first-time borrower in Oregon, CMG Financial offers several ways to apply for a home loan, including applying for a mortgage online or from the CMG Home app. No matter how you want to apply, CMG Financial is great at helping first-time homebuyers navigate through the sometimes confusing steps.

How do I choose the best lender for me?

With so many options to choose from, finding the right mortgage lender can often feel like finding a needle in a haystack. Fortunately, it’s possible to narrow down the options so you can feel more confident that your chosen lender is a good fit for you.

We recommend:

  • Reading online reviews. Take the time to read customer reviews online, as these are often the best source of information when it comes to finding a reputable and reliable lender.
  • Investigating several lenders. Every lender is different. Shop around to compare what rates are being offered as well as costs, fees and reward points. For example, some lenders that charge lower interest may be charging higher fees and vice versa.
  • Being ready to negotiate. Before you accept a loan offer, you have the right to negotiate a lower rate or better terms. Getting preapprovals from a few lenders can give you more leverage.
  • Reading the fine print. Always read the fine print to make sure you understand the terms of your mortgage. Even an accidental late payment can lead to a lender taking action against you.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
SoFi
(NMLS #1121636)
SoFi
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY, WV
620
No hidden fees, multiple loan terms, and member discounts available.
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
LendingTree
(NMLS #1136)
LendingTree
Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
Available in all states
620
Connect with vetted home loan lenders quickly through this online marketplace.
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Average rates and fees in Oregon

As of December 22, 2020, the benchmark 30-year fixed mortgage rate in the US is 2.860%, with the rate slightly lower in Oregon. According to data from the Consumer Financial Protection Bureau (CFPB), most Oregon lenders are offering interest rates at or below 2.750% as of this writing.

In addition, average mortgage closing costs in Oregon are approximately around 2% to 5% of a home’s selling price, depending on the lender. Research mortgage rates in Oregon or view average Oregon closing costs for more details on what you can expect to pay.

What about brokers?

Aside from LendingTree, our list of the top lenders in Oregon include companies that underwrite mortgage loans directly. But not everyone wants to take the time to research each lender in depth. If you fall into that category, you can work with a mortgage broker who can research loans on your behalf.

Know that while most mortgage brokers have their clients’ best interests at heart, others may charge unnecessary fees. So, take the time to check out different mortgage brokers, read their online reviews and make sure they’re going to work hard for you to achieve your homeownership goals.

Bottom line

When it comes to a home loan, there’s no one-size-fits-all approach. From first-time homebuyers to experienced investors looking to fix and flip, there are many types of mortgage needs and uses. While these nine Oregon lenders cover a lot of different buying situations, you may want to compare even more lenders to make sure you’ve found the perfect match.

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.

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