10 Best Oregon Mortgage Lenders of 2021
Here are the best Oregon mortgage lenders for a variety of needs.
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 and here's how we make money.
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.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
10 Best Oregon Mortgage Lenders of 2021
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 Pennymac: NMLS#35953 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
580 | 3% | Learn more at New American Funding | ||
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 Guild Mortgage: NMLS#3274 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet | |
 Citibank: NMLS#412915 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet | |
 Wells Fargo: NMLS#399801 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Bank of America: NMLS#399802 LEARN MORE on NerdWallet | 660 | 5% | LEARN MORE on NerdWallet | |
 US Bank: NMLS#402761 LEARN MORE on NerdWallet | 620 | N/A | LEARN MORE on NerdWallet | |
 Chase: NMLS#399798 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Flagstar: NMLS#417490 LEARN MORE on NerdWallet | N/A | 5% | LEARN MORE on NerdWallet |
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Why We Like ItPennymac, known for its government loans, stands out for a transparent digital experience. Interest rates tend to be low, but origination fees may be a bit high.
Pros
- Easy to personalize a quote and apply online.
- Can lock in a rate before you’re under contract, earlier than most lenders.
- Perks include a 1% interest rate buydown and “refinance later” cash bonus.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- Online chat is available only in the logged-in experience.
- No home equity lines of credit or renovation loans.
Learn more
at New American Funding
New American Funding: NMLS#6606
4.0
Home loans overall
NerdWallet ratingMin. credit score
580
Min. down payment
3%
Why We Like ItNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.
Pros
- Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
- Its home equity line of credit can be used for a primary residence or second home.
Cons
- Average origination fees are on the high side, according to the latest federal data.
- Personalized mortgage rates are not available on the website without providing contact information.
Learn more
at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
1%
Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
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on NerdWallet
Guild Mortgage: NMLS#3274
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGuild offers a number of loans and programs that stand out, including renovation loans and home equity products. However, Guild does not have a mobile app, and interest rates aren’t published online.
Pros
- Offers several programs to make homeownership more accessible.
- Offers loans for manufactured homes.
- Renovation loan options are available.
Cons
- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
LEARN MORE
on NerdWallet
Citibank: NMLS#412915
4.0
Home loans overall
NerdWallet ratingNational / regional
National
Min. down payment
3%
Why We Like ItCiti offers solid customer support and a highly rated mobile app. Borrowers need to contact the lender for a customized rate quote or preapproval — but average mortgage rates are among the lowest of lenders we review.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
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on NerdWallet
Wells Fargo: NMLS#399801
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItWells Fargo has significant upsides and shortcomings. Sample rates are easy to view, assistance programs may apply and the lender earns solid scores in our rankings, but its consumer trust track record is rough.
Pros
- Sample rates are shown for various loan products, along with the type of borrower and loan that would get them.
- Offers generous down payment and closing cost assistance programs for qualified borrowers.
- Market leader in number of jumbo loans and refinances originated, according to the latest federal data.
- Rate-and-term refinance interest rates offered are lower than average, according to the latest federal data.
Cons
- Home loans business is broadly focused on existing bank customers.
- Doesn’t offer specialty home loans or equity borrowing (home equity loans or HELOC).
- Scandals and government actions have damaged consumer trust in recent years.
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on NerdWallet
Bank of America: NMLS#399802
4.0
Home loans overall
NerdWallet ratingMin. credit score
660
Min. down payment
5%
National / regional
National
Why We Like ItBank of America offers low interest rates, in-person service and plenty of loan options, but it was fined by regulators for reporting inaccurate mortgage data.
Pros
- Interest rates are lower than most lenders, according to the latest federal data.
- Offers up to $10,000 in down payment assistance to qualified borrowers.
- Banking customers can get discounted interest rates or fees.
Cons
- Mortgage origination fees are on the high side, according to the latest federal data.
- Rate estimator tool doesn’t personalize by credit score.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
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on NerdWallet
US Bank: NMLS#402761
5.0
HELOCs
NerdWallet ratingNational / regional
National
Max LTV
90%
Min. credit score
620
Why We Like ItU.S. Bank’s HELOC offers a rate discount and an option to convert to a fixed rate. It has a generous maximum draw, but the lender charges an annual fee and early repayment penalty.
Pros
- Online tool lets you customize sample rate by location.
- Offers a fixed-rate payment option.
- High maximum loan amount compared with other lenders.
Cons
- Charges a fee for early repayment.
- Annual fee up to $75 (waived for certain banking customers).
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on NerdWallet
Chase: NMLS#399798
4.5
HELOCs
NerdWallet ratingNational / regional
National
Max LTV
80%
Min. credit score
620
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.
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on NerdWallet
Why We Like ItFlagstar Bank stands out for its range of accessible loans and programs, including loans with flexible requirements and down payment grant options. Its mortgage operations will be acquired by Mr. Cooper in 2024.
Pros
- Conventional loan terms extend to 40 years, which is unusually flexible.
- Offers options for high-balance mortgages.
- Offers specialized mortgages for professionals, such as doctors and lawyers, starting their careers.
- Reported average time to close (20-30 days) is faster than industry standard.
Cons
- The lender’s mobile app is focused on banking, not mortgages.
- Conventional fixed-rate mortgages require a 5% minimum down payment, higher than some competitors.
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
