Oregon FHA Loan Rates, Closing Costs & Stats

Oregon

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Oregon FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Oregon averaged 6.78% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Oregon's average FHA mortgage closing costs are $10,722.

The average rate for the prior week (2024-04-05) was 6.71% and one month ago for the week of 2024-03-08, the average rate was 6.45%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.09%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Oregon FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Oregon level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 782 6.11% $16,658
GUILD MORTGAGE COMPANY 530 6.49% $16,610
QUICKEN LOANS, LLC 483 6.16% $15,423
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 309 6.52% $15,295
SUMMIT FUNDING, INC. 242 6.41% $17,752
CMG MORTGAGE, INC. 231 6.46% $14,727
CROSSCOUNTRY MORTGAGE, LLC 192 6.79% $15,909
LOANDEPOT.COM, LLC 178 6.27% $16,122
MORTGAGE EXPRESS, LLC 161 6.50% $15,733
NEWREZ LLC 158 6.45% $14,606
AMERICAN PACIFIC MORTGAGE CORPORATION 150 6.54% $15,620
NATIONS DIRECT MORTGAGE, LLC 149 6.32% $15,440
DIRECTORS MORTGAGE, INC. 138 6.92% $18,730
ACADEMY MORTGAGE CORPORATION 127 6.61% $17,393
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 107 6.63% $16,672
MANN FINANCIAL INC. 106 6.58% $14,603
Century Mortgage Company DBA Century Lending Company 101 6.23% $14,309
DHI MORTGAGE COMPANY, LTD. 99 5.55% $12,042
PENNYMAC LOAN SERVICES, LLC 98 5.98% $17,481
PACIFIC RESIDENTIAL MORTGAGE, LLC 98 6.56% $17,584
MOVEMENT MORTGAGE, LLC 82 6.68% $16,071
CALIBER HOME LOANS, INC. 73 6.15% $14,338
CHURCHILL MORTGAGE CORPORATION 72 6.45% $15,220
S1L, Inc. 68 6.52% $17,742
Nations Lending Corporation 65 6.58% $12,148
BROKER SOLUTIONS, INC. 63 6.69% $16,408
PLAZA HOME MORTGAGE, INC. 63 6.32% $18,245
Willamette Valley Bank 62 6.45% $16,055
Flagstar Bank, FSB 60 6.55% $12,670
LPMC, LLC 58 6.60% $13,765
EAGLE HOME MORTGAGE, LLC 55 5.88% $15,116
FREEDOM MORTGAGE CORPORATION 54 6.84% $18,111
GUARANTEED RATE, INC. 54 6.30% $16,226
MUTUAL OF OMAHA MORTGAGE, INC. 53 6.49% $16,824
AMERICAN FINANCIAL NETWORK, INC. 50 6.75% $18,244
Sierra Pacific Mortgage Company, Inc. 50 6.23% $15,808
AMERISAVE MORTGAGE CORPORATION 46 5.83% $18,645
CANOPY MORTGAGE, LLC 43 6.50% $19,527
PANORAMA MORTGAGE GROUP, LLC 41 6.91% $18,308
PREMIER MORTGAGE RESOURCES, L.L.C. 40 6.51% $18,155
Banner Bank 40 6.22% $13,106
Mr. Cooper ( Nationstar Mortgage ) 40 6.05% $20,103
Umpqua Bank 39 6.50% $14,306
MASON MCDUFFIE MORTGAGE CORPORATION 38 6.45% $15,586
OnPoint Community Credit Union 38 6.80% $12,212
NOVA FINANCIAL & INVESTMENT CORPORATION 36 6.43% $15,480
HOMEBRIDGE FINANCIAL SERVICES, INC. 34 6.01% $17,225
Paramount Residential Mortgage Group, Inc. 34 6.80% $17,278
CARDINAL FINANCIAL 32 6.32% $17,045
GENEVA FINANCIAL, LLC 31 6.74% $21,600
AXIA FINANCIAL, LLC 30 6.37% $15,760
ARK-LA-TEX FINANCIAL SERVICES, LLC. 30 6.38% $14,837
U.S. Bank 30 6.38% $12,660
SUN WEST MORTGAGE COMPANY, INC. 28 6.21% $17,277
Golden Empire Mortgage, Inc. 28 6.70% $17,487
American Mortgage & Equity Consultants, Inc. 28 6.76% $18,977
BAY EQUITY LLC 27 6.26% $16,655
HomeStreet Bank 27 6.27% $14,546
Equity Prime Mortgage LLC 26 6.67% $17,646
AMERICAN FINANCIAL RESOURCES, INC. 25 6.30% $15,538
Loan Simple, Inc. 23 7.03% $18,327
Carrington Mortgage Services, LLC 23 6.38% $16,244
MORTGAGE SOLUTIONS OF COLORADO, LLC 23 6.75% $15,582
MOUNTAIN WEST FINANCIAL, INC. 22 6.24% $15,668
PRIMELENDING, A PLAINSCAPITAL COMPANY 21 6.74% $19,800
PRIORITY HOME LENDING, LLC 21 5.42% $17,877
KeyBank 20 5.94% $14,613
PLANET HOME LENDING, LLC 19 5.98% $13,185
SUMMIT MORTGAGE CORPORATION 19 6.66% $18,985
DAS Acquisition Company, LLC 18 6.79% $17,281
Bank of England 17 6.67% $15,930
V.I.P. MORTGAGE, INC. 17 6.38% $15,510
OCMBC, INC. 16 7.23% $16,421
FIRST COLONY MORTGAGE CORPORATION 15 6.70% $13,139
ZILLOW HOME LOANS, LLC 15 6.11% $15,510
JPMorgan Chase Bank 14 6.61% $10,162
Plains Commerce Bank 14 6.45% $15,390
Franklin Loan Corporation 14 6.22% $19,038
VERITAS FUNDING, LLC 13 6.61% $22,933
AMERICAN FINANCING CORPORATION 13 6.35% $16,920
GoPrime Mortgage, Inc. 12 6.13% $14,481
LOANPAL, LLC 12 5.72% $18,436
MID AMERICA MORTGAGE, INC. 12 6.79% $5,645
UNION HOME MORTGAGE CORP. 12 6.69% $16,269
ON Q FINANCIAL, INC. 12 6.79% $14,189
SUCCESS MORTGAGE PARTNERS, INC. 12 6.46% $16,069
South Pacific Financial Corporation 12 5.43% $13,654
Prosperity Home Mortgage, LLC 12 6.43% $16,752
CALCON MUTUAL MORTGAGE LLC 11 7.44% $19,389
HOMEAMERICAN MORTGAGE CORPORATION 11 5.49% $12,132
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 6.79% $16,927
LEADERONE FINANCIAL CORPORATION 10 6.80% $17,679
iCore Lending, Inc. 10 6.67% $21,721
LADERA LENDING, INC. 10 6.59% $16,197
The Loan Store, Inc. 10 6.77% $18,004
Mortgage Research Center, LLC 10 6.79% $8,452
Commerce Home Mortgage, Inc. 9 6.44% $18,555
VILLAGE CAPITAL MORTGAGE 9 6.38% $13,573
Wells Fargo Bank 9 6.22% $8,597
NFM, INC. 8 6.67% $19,380
EVERETT FINANCIAL, INC. 8 6.88% $16,645
Hometown Equity Mortgage, LLC 8 6.34% $18,007
The Federal Savings Bank 8 6.34% $18,807
RANLIFE, INC. 8 5.81% $16,669
LAKEVIEW LOAN SERVICING, LLC 8 5.92% $16,987
Citizens Bank 8 6.88% $13,397
Sunflower Bank 7 6.30% $21,290
Cornerstone First Mortgage, Inc 7 6.66% $20,095
ENVOY MORTGAGE, LTD 7 7.00% $15,865
RESIDENTIAL MORTGAGE, LLC 6 6.41% $15,844
TruHome Solutions, LLC 6 5.98% $14,764
Bank of the Pacific 6 6.10% $14,017
Keystone Funding, Inc. 5 6.72% $14,497
AmeriHome Mortgage Company, LLC 5 5.85% $13,772
NETWORK CAPITAL FUNDING CORPORATION 5 6.10% $13,326
PHH Mortgage Corporation 5 5.87% $16,673
BECKAM FUNDING CORP. 5 6.90% $21,273
Washington Trust Bank 5 6.25% $16,314
BMO Harris Bank 4 6.22% $10,006
CITY FIRST MORTGAGE SERVICES, L.L.C. 4 7.06% $12,937
LIBERTY HOME MORTGAGE CORPORATION 4 7.13% $13,459
EMM LOANS LLC 4 5.91% $19,317
MYCUMORTGAGE, LLC 4 7.00% $9,857
NBKC BANK 4 6.38% $10,846
PENTAGON FEDERAL CREDIT UNION 4 5.16% $18,814
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 7.17% $18,266
EMBRACE HOME LOANS, INC. 3 6.21% $14,018
CORNERSTONE HOME LENDING, INC. 3 6.46% $19,406
HOMESIDE FINANCIAL, LLC 3 6.17% $17,133
MLD MORTGAGE INC. 3 6.38% $15,115
M&T Bank 3 6.88% $8,244
UNITED SECURITY FINANCIAL CORP 3 7.04% $26,009
TOWNE MORTGAGE COMPANY 3 5.79% $21,043
TOP FLITE FINANCIAL, INC. 3 7.04% $16,119
PREMIA MORTGAGE, LLC 3 6.67% $10,793
FIRST CENTENNIAL MORTGAGE CORPORATION 3 6.96% $13,017
Ixonia Bank 3 6.42% $15,133
Boeing Employees Credit Union 2 6.94% $7,969
TJC Mortgage, Inc. 2 6.75% $11,504
SECURITYNATIONAL MORTGAGE COMPANY 2 6.81% $8,959
AMCAP MORTGAGE, LTD. 2 7.13% $22,060
JMAC LENDING, INC. 2 6.63% $15,059
Lakeview Community Capital, LLC 2 6.50% $13,193
Evolve Bank & Trust 2 6.94% $14,909
Strong Home Mortgage, LLC 2 6.31% $14,590
Chickasaw Community Bank 2 7.19% $7,639
Bank of America 2 6.63% $14,787
Zions Bank 1 5.88% $12,822
ALAMEDA MORTGAGE CORPORATION 1 7.25% $17,096
ALLIED MORTGAGE GROUP, INC. 1 6.13% $21,282
Ameris Bank 1 5.38% $16,602
Axos Bank 1 6.63% $10,996
Bank of the West 1 5.38% $11,949
Bell Bank 1 6.25% $10,847
Capital Bank 1 6.75% $28,552
CASTLE & COOKE MORTGAGE, LLC 1 6.25% $6,627
CHERRY CREEK MORTGAGE, LLC 1 6.13% $7,485
Credence Funding Corporation 1 5.88% $7,623
CUSTOMER SERVICE MORTGAGE CORPORATION 1 7.13% $11,524
DATA MORTGAGE, INC. 1 6.63% $23,962
D. L. Evans Bank 1 6.25% $11,953
FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.25% $17,777
Florida Capital Bank 1 6.13% $19,327
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.50% $18,553
GSF Mortgage Corporation 1 6.13% $19,974
HOMEXPRESS MORTGAGE CORP. 1 7.88% $18,191
IDAHO CENTRAL 1 6.63% $12,435
INTERCAP LENDING INC. 1 6.63% $12,792
ISERVE RESIDENTIAL LENDING, LLC 1 7.50% $15,097
JLB CORPORATION 1 6.50% $16,824
JMJ FINANCIAL GROUP 1 5.75% $18,586
LAND HOME FINANCIAL SERVICES, INC. 1 7.25% $12,972
LOANLEADERS OF AMERICA, INC. 1 5.38% $24,632
Magnolia Bank 1 5.75% $23,972
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $22,441
NEW DAY FINANCIAL, LLC 1 7.99% $13,918
NEXERA HOLDING LLC 1 5.63% $10,882
North American Savings Bank, F.S.B. 1 6.13% $13,699
Northpointe Bank 1 6.25% $12,761
PENRITH HOME LOANS LLC 1 7.13% $11,776
Performance Financial, Inc. 1 6.50% $12,506
POLARIS HOME FUNDING CORP. 1 6.63% $11,723
Princeton Mortgage Corporation 1 7.13% $12,466
RELIANCE FIRST CAPITAL, LLC 1 6.13% $13,960
ROYAL UNITED MORTGAGE LLC 1 7.75% $5,759
SOUTHWEST STAGE FUNDING, LLC 1 7.25% $9,260
STARBOARD FINANCIAL MANAGEMENT, LLC 1 6.63% $19,899
Summit Mortgage Corporation 1 5.63% $17,950
VISION ONE MORTGAGE, INC. 1 7.00% $11,365
Waterstone Mortgage Corporation 1 5.63% $15,545
1st Security Bank of Washington 1 7.25% $14,912

The top Oregon FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 782 FHA loans originated. Their average total fees are $16,658, which is $48 higher than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Oregon FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($5,645), Mortgage Research Center, LLC ($8,452), JPMorgan Chase Bank ($10,162), DHI MORTGAGE COMPANY, LTD. ($12,042) and HOMEAMERICAN MORTGAGE CORPORATION ($12,132).

The lowest rate Oregon FHA lenders (with over 10 loans originated) are PRIORITY HOME LENDING, LLC (5.42%), South Pacific Financial Corporation (5.43%), HOMEAMERICAN MORTGAGE CORPORATION (5.49%), DHI MORTGAGE COMPANY, LTD. (5.55%) and LOANPAL, LLC (5.72%).

Oregon FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NON-METRO BAKER 2022 $420,680 $538,650 $651,050 $809,150
CORVALLIS, OR BENTON 2022 $483,000 $618,300 $747,400 $928,850
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2022 $598,000 $765,550 $925,350 $1,150,000
ASTORIA, OR CLATSOP 2022 $437,000 $559,450 $676,200 $840,400
PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2022 $598,000 $765,550 $925,350 $1,150,000
COOS BAY, OR COOS 2022 $420,680 $538,650 $651,050 $809,150
PRINEVILLE, OR CROOK 2022 $420,680 $538,650 $651,050 $809,150
BROOKINGS, OR CURRY 2022 $420,680 $538,650 $651,050 $809,150
BEND, OR DESCHUTES 2022 $569,250 $728,750 $880,900 $1,094,700
ROSEBURG, OR DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GILLIAM 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GRANT 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO HARNEY 2022 $420,680 $538,650 $651,050 $809,150
HOOD RIVER, OR HOOD RIVER 2022 $599,150 $767,000 $927,150 $1,152,250
MEDFORD, OR JACKSON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
GRANTS PASS, OR JOSEPHINE 2022 $420,680 $538,650 $651,050 $809,150
KLAMATH FALLS, OR KLAMATH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LAKE 2022 $420,680 $538,650 $651,050 $809,150
EUGENE-SPRINGFIELD, OR LANE 2022 $420,680 $538,650 $651,050 $809,150
NEWPORT, OR LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
ALBANY-LEBANON, OR LINN 2022 $420,680 $538,650 $651,050 $809,150
ONTARIO, OR-ID MALHEUR 2022 $420,680 $538,650 $651,050 $809,150
SALEM, OR MARION 2022 $420,680 $538,650 $651,050 $809,150
HERMISTON-PENDLETON, OR MORROW 2022 $420,680 $538,650 $651,050 $809,150
PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2022 $598,000 $765,550 $925,350 $1,150,000
SALEM, OR POLK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SHERMAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO TILLAMOOK 2022 $420,680 $538,650 $651,050 $809,150
HERMISTON-PENDLETON, OR UMATILLA 2022 $420,680 $538,650 $651,050 $809,150
LA GRANDE, OR UNION 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WALLOWA 2022 $420,680 $538,650 $651,050 $809,150
THE DALLES, OR WASCO 2022 $420,680 $538,650 $651,050 $809,150
PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2022 $598,000 $765,550 $925,350 $1,150,000
NON-METRO WHEELER 2022 $420,680 $538,650 $651,050 $809,150
PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2022 $598,000 $765,550 $925,350 $1,150,000
NON-METRO BAKER 2023 $472,030 $604,400 $730,525 $907,900
CORVALLIS, OR BENTON 2023 $560,050 $716,950 $866,650 $1,077,050
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2023 $672,750 $861,250 $1,041,050 $1,293,750
ASTORIA, OR CLATSOP 2023 $529,000 $677,200 $818,600 $1,017,300
PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2023 $672,750 $861,250 $1,041,050 $1,293,750
COOS BAY, OR COOS 2023 $472,030 $604,400 $730,525 $907,900
PRINEVILLE, OR CROOK 2023 $472,030 $604,400 $730,525 $907,900
BROOKINGS, OR CURRY 2023 $472,030 $604,400 $730,525 $907,900
BEND, OR DESCHUTES 2023 $690,000 $883,300 $1,067,750 $1,326,950
ROSEBURG, OR DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GILLIAM 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GRANT 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO HARNEY 2023 $472,030 $604,400 $730,525 $907,900
HOOD RIVER, OR HOOD RIVER 2023 $671,600 $859,750 $1,039,250 $1,291,550
MEDFORD, OR JACKSON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
GRANTS PASS, OR JOSEPHINE 2023 $472,030 $604,400 $730,525 $907,900
KLAMATH FALLS, OR KLAMATH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LAKE 2023 $472,030 $604,400 $730,525 $907,900
EUGENE-SPRINGFIELD, OR LANE 2023 $481,850 $616,850 $745,650 $926,650
NEWPORT, OR LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
ALBANY-LEBANON, OR LINN 2023 $472,030 $604,400 $730,525 $907,900
ONTARIO, OR-ID MALHEUR 2023 $472,030 $604,400 $730,525 $907,900
SALEM, OR MARION 2023 $483,000 $618,300 $747,400 $928,850
HERMISTON-PENDLETON, OR MORROW 2023 $472,030 $604,400 $730,525 $907,900
PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2023 $672,750 $861,250 $1,041,050 $1,293,750
SALEM, OR POLK 2023 $483,000 $618,300 $747,400 $928,850
NON-METRO SHERMAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO TILLAMOOK 2023 $472,030 $604,400 $730,525 $907,900
HERMISTON-PENDLETON, OR UMATILLA 2023 $472,030 $604,400 $730,525 $907,900
LA GRANDE, OR UNION 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WALLOWA 2023 $472,030 $604,400 $730,525 $907,900
THE DALLES, OR WASCO 2023 $472,030 $604,400 $730,525 $907,900
PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2023 $672,750 $861,250 $1,041,050 $1,293,750
NON-METRO WHEELER 2023 $472,030 $604,400 $730,525 $907,900
PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2023 $672,750 $861,250 $1,041,050 $1,293,750

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).