Home refinancing
If you’re looking to refinance your current mortgage, we’ve got the loan to help.
By refinancing your mortgage at a lower interest rate, you could lower your monthly payments or pay off your loan sooner. With OnPoint, you get more flexibility in your budget and more control of your mortgage payments.
Lower payments
Change loan term
Consolidate debt
Home improvements
Rates
Terms | Rate | Annual percentage | Points | 1-month payment* |
|---|---|---|---|---|
| Learn more about mortgage refinance loans View mortgage purchase rates The annual percentage rates (APRs) for the 30 Year Fixed, 15 Year Fixed, and 5 year adjustable rate loans are calculated based on the mortgage no cash-out refinance of a single family, owner occupied residence with a loan-to-value (LTV) of 75%, a loan amount of $412,500.00, and a property located in Multnomah County, Oregon. The annual percentage rates (APRs) for the Homeroom fixed rate loans are calculated based on the mortgage no cash-out refinance of a single family, owner occupied residence with a loan amount of $550,000.00 and located in Multnomah County, Oregon. The annual percentage rates (APRs) for the 30 year jumbo fixed rate and 5/5 jumbo ARM are calculated based on the mortgage no cash-out refinance of a single family, owner occupied residence with a loan-to-value (LTV) of 75%, a loan amount of $750,000, and a property located in Multnomah County, Oregon. The APR includes the approximate cost of prepaid finance charges, including 15 days of prepaid interest, a $795.00 origination fee, and any applicable points associated with the interest rate. Actual APRs for individual loans may differ. All loan applications are subject to credit and property approval. The payments shown include only principal and interest. Certain loan products may require an escrow account for property taxes and insurance which will be added to the monthly payment amount. These mortgage rates are based upon a variety of assumptions and conditions, some of which may include a credit score of 780 or higher. Your loan’s interest rate will depend on specific characteristics of your transaction and your credit profile up to the time of closing. Adjustable rate mortgage (ARM) interest rates and payments are subject to change during the loan term. That change can increase or decrease your monthly payment. If your equity is less than 20% mortgage insurance may be required, which will increase the monthly payment and APR. Assumes no other loans or liens on subject property. Property and/or flood hazard insurance may be required. Maximum loan limits may apply. Additional rates and programs are available. Interest rates and APRs are subject to change without notice. | ||||
Terms 30 year fixed rate | Rate 6.500% | Annual percentage 6.594% | Points 0.375% | 1-month payment* $2,607.28 |
Terms 30 year jumbo fixed rate | Rate 6.500% | Annual percentage 6.596% | Points 0.500% | 1-month payment* $4,740.51 |
Terms 15 year fixed rate | Rate 6.000% | Annual percentage 6.189% | Points 0.625% | 1-month payment* $3,480.91 |
Terms Homeroom | Rate 7.750% | Annual percentage 7.849% | Points 0.500% | 1-month payment* $3,940.27 |
Terms 5/5 ARM | Rate 6.125% | Annual percentage 6.467% | Points 0.625% | 1-month payment* $2,506.39 |
Terms 5/5 jumbo ARM | Rate 6.125% | Annual percentage 6.445% | Points 0.500% | 1-month payment* $4,557.08 |
Terms Rates effective: | Rate 06-07-2023 | Annual percentage | Points | 1-month payment* |
Find your perfect new home.
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Which home loan option is right for you?
Put your home's equity to work
OnPoint’s EquityFlex Line of Credit gives you the flexibility to use your funds whenever you need them.
Thinking about buying a home?
With local experience and local loan servicing, OnPoint helps members save on their mortgage.
Home refinancing FAQs
Preapproval means you're essentially ready to start shopping for a house as you have formally applied for the mortgage, and we've determined that you are eligible for a mortgage of a certain amount.
- Most recent pay stubs for the past 30 days with year-to-date total.
- W-2's for the past 2 years (for all jobs held in the last 2 years).
- All pages of bank statements for all asset accounts for the last 2 months. If your accounts are with OnPoint we will gather this information for you.
- Most recent award letter(s) and last 2 years' 1099s for retirement income such as social security, IRA accounts or pensions
- Driver's license or other acceptable government-issued identification. If applicable, the Permanent Resident card is required.
- Home insurance declaration page(s) with agent name and annual premium.
- Most recent 2 year's federal tax returns including all forms and schedules including both personal, and business returns if applicable.
- Most recent monthly statement(s) for mortgages or home equity lines from all residential properties currently owned.
- If you claim rental income current lease/rental agreements signed by you and tenants.
- If purchasing,fully signed sales agreement with all addenda, counteroffers, earnest money receipt and proof earnest money cleared your account.
- If current residence is pending sale or recently sold, provide a sales agreementor Final HUD-1 Settlement Statement documenting the sale terms.
- If applicable, copies of bankruptcy discharge, divorce decree or support orders.
Get started with your mortgage loan – new purchase or refinance. Check rates, calculate your payments or apply online today!
To determine whether it makes sense for you to pay discount points, you should compare the cost of the discount points to the monthly payments savings created by the lower interest rate. Divide the total cost of the discount points by the savings in each monthly payment. This calculation provides the number of payments you'll make before you actually begin to save money by paying discount points. If the number of months it will take to recoup the discount points is longer than you plan on having this mortgage, you should consider the loan program option that doesn't require discount points to be paid.
We also offer Home Buying Seminars and events as well as Home Loan Calculators to get you started on the process. Don't go it alone!
Just for Starters Home Loan
This home loan is ideal for first-time buyers interested in extra support throughout their home buying journey. The maximum loan amount will be determined by your county property values. With 30 year terms and 0% down payment required, Just for Starters is the perfect first home loan!
Click here to see more loan options, current mortgage rates, and apply online today!
If you would like to apply in person, schedule an appointment with a Mortgage Loan Officer at 503.273.1755 or 800.527.3932 ext. 5220.
Financial planning
As a first-time homebuyer, it is important to maintain your short term and long term financial plans! OnPoint offers Financial Planning services giving you access to experienced local professionals who will help you understand, create, implement, and manage your investments and finances.
Click here to learn more and request a complimentary consultation today!
Get pre-approved for your next home!
There's no need to find a property before you apply for a Mortgage. If you qualify for a mortgage, we'll issue a pre-qualification letter online instantly! You can use the pre-qualification letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-qualification for a mortgage may give more weight to any offer to purchase that you make.
If you apply for your mortgage now, we'll issue an approval subject to you finding the perfect home. We'll issue a pre-qualification letter online instantly. You can use the pre-qualification letter to assure real estate brokers and sellers that you are a qualified buyer. Having a pre-qualification for a mortgage may give more weight to any offer to purchase that you make.
When you find the perfect home, you'll simply call your Mortgage Loan Officer to complete your application.
Over time, inflation has the largest influence on the level of interest rates. A modest rate of inflation will almost always lead to low interest rates, while concerns about rising inflation normally cause interest rates to increase. Our nation's central bank, the Federal Reserve, implements policies designed to keep inflation and interest rates relatively low and stable.
- Cora O.We have been members for years. We enjoy the friendly service, good rates and local business.
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Disclosures
All OnPoint loans are subject to credit terms and approval.