Current Mortgage Rates for Oregon



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Making Oregon Your Home - The Best Oregon Mortgage Rates, Resources & Information

If you're planning to get a new mortgage loan or refinance an existing mortgage in Oregon, you have several options. Shop around and compare home loan rates with a mortgage calculator to get the best deal. 

Our information will help you learn about all types of Oregon home loans and our helpful list of specific OR Mortgage Resources & services is specifically tailored for our state. Having some knowledge of how mortgage loans work wherever you live in Oregon can help you select a home and keep it for years to come. Whether you're looking for a Portland new home loan or a Salem mortgage refinance, it pays to do your homework.

Also compare competing quotes from our lender database of reputable Oregon mortgage lenders using the form to the right. Take the time to speak to different lenders and see what offers are available to you.  Getting several competing quotes and getting the best offer can save thousands over the course of your loan.  Here are some things to keep in mind as you compare mortgage quotes.

Buying a New Home

Today's mortgage rates are at or near historical lows, making it an ideal time to buy a home. Government programs such as FHA Loans which require very little down and are available to those with less than perfect credit, and new homebuyer federal tax credits make it even sweeter. Contact FHA lenders through the form above.



However, to get the best mortgage rates in Oregon you'll need good credit, a 20% down payment, and a steady source of income.

Use a mortgage pre-qualification calculator to get an idea of how mortgage lenders will view you as a customer and how much you may be able to qualify for given income and expenses.  Additionally, mortgage lenders that you can contact through the form above should be able to help prequalify you and provide you with a prequalification letter.

Refinance or Modify Your Loan

You may qualify for assistance to save your home from foreclosure through the U.S. government's housing rescue plan, whether you have a conventional or FHA loan. If your qualify, you may be able to refinance or modify your mortgage loan if it is securitized by Fannie Mae or Freddie Mac. You'll need to be current on your mortgage to refinance under the program. But if you've already fallen behind on payments and are facing foreclosure, you may be able to get your home loan modified.

If you don't qualify for either program but need help, you have a few options:

  • You can seek help from a housing counselor in the state of Oregon that is approved by the Department of Housing and Urban Development (HUD). A counselor may be able to help you budget your money better and get your bills under control. Among the cities that have HUD-approved mortgage counselors are Portland, Salem, and Eugene.
  • You can contact your mortgage lender to see if they'll agree to modify or refinance your home loan. Be wary of loan modification companies that have been targeting Oregon homeowners with fliers, direct mail, and phone calls because it could be a scam. File any complaints with the Oregon Attorney General's office.
  • You can try to refinance your loan through the Federal Housing Administration (FHA). If you already have a FHA loan, you can apply for a streamline refinance, which is faster process than refinancing a conventional loan.
  • You may qualify for a reverse mortgage. You'll receive money as a lump sum or in monthly payments and won't have to pay it back until you sell your home or die. Most reverse mortgages are for people over 62.