Key Takeaways

• Statewide lending through Truss Financial Group, your Oregon mortgage broker.
• Programs: Conventional, FHA, VA, USDA, Jumbo, HELOC, Non-QM.
• Non-QM choices: bank-statement, DSCR, asset-depletion, and interest-only options where suitable.
• TFG specialties: DSCR below 1.0 for investors (case-by-case) and a fast Digital HELOC flow.
• Typical qualifying targets many lenders use: credit ~620+ for Conventional, FHA from 580, DTI near or below 45 percent.
• First-time buyer help: OHCS and Oregon Bond down-payment and closing-cost assistance (eligibility applies).
• The process: pre-approval → home search → appraisal → underwriting → closing.

Areas We Serve

We lend across the State of Oregon. Our team regularly helps home buyers and homeowners in Portland, Eugene, Salem, Bend, Medford, Beaverton, Corvallis, and Hillsboro, as well as the surrounding counties. If you live outside these cities, we can still assist you with the same care and speed.

What Are the Options for a Home Loan in Oregon?

Homebuyers in Oregon can choose from multiple mortgage programs designed for different income levels and goals.

Conventional Loans

Conventional loans suit borrowers with solid credit, steady income, and a moderate down payment. If your loan amount exceeds the FHFA county limit, the file becomes a Jumbo loan.

• Best for: Primary homes, second homes, many investment properties
• Typical down payment: 3% to 20%
• Credit profile: Usually 620 or higher
• Why choose it: Competitive pricing and flexible property types

FHA Loans

FHA is designed for buyers who are building or rebuilding credit. The minimum down payment is 3.5 percent with scores of 580 or higher.

• Best for: First-time buyers and credit-rebuilding borrowers
• Typical down payment: 3.5% at ≥580; some lenders allow 10% at 500–579
• Why choose it: Flexible credit history and friendly DTI allowances

VA Loans

VA loans serve eligible veterans and service members. They offer true zero down in many cases and no monthly PMI for primary residences.

• Best for: Eligible veterans and active-duty service members buying a primary home
• Typical down payment: 0% if eligible
• Why choose it: Powerful terms and no monthly mortgage insurance

USDA Loans

USDA offers zero down in eligible rural areas, subject to income limits and the official property map. We verify property eligibility and household income before you make an offer.

• Best for: Buyers open to USDA-eligible locations
• Typical down payment: 0% if eligible
• Why choose it: 100% financing with geographic and income qualification

Jumbo Loans

Jumbo financing applies when the loan amount is above your county’s conforming limit. These files usually require stronger reserves, higher scores, and conservative DTIs. We price several investor options to balance payment and cash to close.

• Best for: High-value homes and unique properties
• Typical down payment: 10% to 20%
• Why choose it: Access to larger loan amounts with tailored underwriting

Oregon Bond Residential Loan Program (OHCS)

This state program pairs an eligible first mortgage with assistance for down payment and closing costs. Assistance levels, income limits, and price caps change over time. We confirm the current rules for your county and your profile.

• Best for: First-time and qualifying buyers who need help with cash to close
• Why choose it: State-backed assistance layered on top of FHA or Conventional

Non-QM and Investor Solutions (TFG Specialties)

Bank-Statement Loans
Qualify using business or personal deposits when tax returns do not reflect your true cash flow. Popular with self-employed professionals.

DSCR Loans
Qualify based on the property’s rent and projected PITI rather than W-2 income. Ideal for investors seeking simple, cash-flow-driven underwriting.

TFG specialty: DSCR below 1.0
If cash flow is temporarily negative, we review reserves, equity, and rent trends case by case. Availability depends on investor guidelines.

Asset-Depletion Programs
Convert verified assets into qualifying income using program formulas. Useful for retirees or high-asset households.

Interest-Only Options
Lower the required payment for a set period while preserving flexibility, often used by investors planning improvements or a sale.

Home-Equity Options

HELOC vs Fixed-Rate HELOAN
Choose between the flexibility of a variable line and the stability of a fixed installment loan. We will model both so you see the trade-offs.

Digital HELOC (TFG Specialty)
Apply online, upload documents, and track progress in a streamlined workflow designed for speed without sacrificing underwriting quality.

Buying a House in Oregon: Qualifications, Requirements, and What to Expect

What lenders review

Mini FAQ:
How long does it take to close on a home in Oregon?

Most files close in 30 - 45 days, depending on appraisal timing, documentation, and property type.

What Credit Score Is Needed to Buy a House in Oregon?

Your credit score plays a major role in determining what kind of mortgage you can qualify for and the interest rate you’ll receive. In Oregon, the minimum credit score varies depending on the type of loan program you choose:

• Conventional Loans: Typically require a credit score of 620 or higher. Borrowers with stronger credit may also qualify for lower interest rates and smaller down payments.
• FHA Loans: Backed by the Federal Housing Administration, these loans are designed for buyers with lower credit scores, allowing approval with a minimum of 580.
• VA and USDA Loans: These government-backed loans don’t have a strict minimum score. Instead, lenders review other factors like income stability, debt-to-income ratio (DTI), and overall financial profile.
• Oregon Bond Residential Loan Program: A state-backed option that requires a minimum credit score of 640 and is great for first-time buyers who need down payment assistance.

Can I buy a home in Oregon with fair or average credit?

Yes! Programs like FHA, USDA, and the Oregon Bond Program are designed to help buyers with flexible credit requirements. With steady income and responsible financial habits, you can still qualify for affordable home financing, even if your credit isn’t perfect.

How Much Money Do You Need to Buy a House in Oregon?

Your total budget should account for down payment, closing costs, and moving expenses.

First-Time Buyer Programs in Oregon

The Oregon Bond Residential Loan Program and OHCS Down Payment Assistance can reduce your cash to close.

Mini FAQ

Q: Is the Oregon Bond Program only for first-time buyers?

A: Mostly, yes, but repeat buyers may qualify if they have not owned a home in the past three years or if the program window allows certain exceptions.

What Is the Current Mortgage Interest Rate in Oregon?

Mortgage rates change every day. They move with the bond market and depend on your profile. Lenders price your rate using credit score, down payment, DTI, loan amount, loan type, points, property type, and lock period.

Oregon rate pages show local snapshots, while national surveys provide a weekly benchmark. Use those sources for trend awareness, then get a personalized quote with a pre-approval.

How to read a quote

• Rate vs APR: APR includes certain costs for better comparisons.
• Points vs Credits: Points can lower the rate; credits can reduce cash to close.
• Lock Period: Longer locks can cost more.
• Occupancy and Property Type: Second homes, condos, and investment properties price differently.

How Much Do You Need for a Down Payment for a House in Oregon?

• Conventional: 3–5 percent for many first-time or well-qualified buyers.
• FHA: 3.5 percent with 580+ credit.
• VA and USDA: zero down if eligible.
• Oregon Bond: assistance may cover part of the required cash; we confirm current caps for your county.
  

  Loan Type	Minimum Down	Eligible Buyers
  Conventional	3%	First-time and repeat
  FHA	3.5%	Low-credit borrowers
  VA	0%	Eligible veterans and service members
  USDA	0%	Rural-eligible buyers
  Oregon Bond	0–3% effective with assistance	Eligible residents

  Is It a Good Time to Buy a House in Oregon?

  Yes, Oregon’s housing market remains stable with balanced inventory and moderate price growth. Rents continue rising faster than mortgage costs in major cities like Portland and Eugene.

  Market Factor	Current Trend	Buyer Advantage
  Home Prices	Stabilizing	Less competition
  Interest Rates	Moderate	Refinance potential later
  Inventory	Improving	More listings available
  Rent Costs	Increasing	Buying builds equity

  Apply for Your Oregon Home Loan

  Ready to get started with Truss Financial Group? Get a fast pre-approval, compare Conventional, FHA, VA, USDA, Jumbo, HELOC, and Non-QM options, and see whether you qualify for Oregon Bond or other OHCS programs.

  We can give you a clear budget, a plain explanation of fees and timelines, and a path to closing.

Frequently Asked Questions

How much is the average mortgage payment in Oregon?

It varies by city, taxes, insurance, and your rate. Use the calculator for a precise estimate and ask us for a county-specific closing-cost review.

What are USDA home loan rates in Oregon?

USDA rates generally track broad market trends and can price favorably because of government backing. Your rate depends on your profile and points. We will quote your exact scenario after pre-approval.

What are current home equity loan or HELOC rates in Oregon?

Home-equity pricing varies by lender, line size, and credit. We will price HELOC and fixed-rate HELOAN options side by side and explain the trade-offs.

How long does it take to close on a home loan in Oregon?

Most files close in 30 – 45 days, depending on appraisal timing, property type, and documentation.

Is Oregon a good place to buy a home right now?

Many buyers see long-term value in Oregon’s major metros and university towns. We will model buy-versus-rent and payment stability so you can decide with data.

Do Oregon Mortgage lenders have programs for self-employed buyers or investors?

Yes, we offer Bank-Statement mortgages and DSCR investor loans, including case-by-case review for DSCR below 1.0. Ask about our Digital HELOC for fast equity access where eligible.