Mortgage loans
Let us help you purchase your next home.
It takes a great loan to get into a great home. Our local team of mortgage experts is here to help you every step of the way and get you settled in for less with affordable borrowing options.
We'll be with you every step of the way. It's what we do.
You know what you need, we know home buying.
Your local lender is here to help you get into your new home and our local mortgage team will help you save time and purchase your next home in a competitive market. Getting pre-approved helps you know what you’re working with so you can start your search with confidence.
Your pre-approval will put you in a stronger position when you finally find a home that you love.
Once you’re ready to make an offer, we can help you close the deal, dot your I’s and cross your T’s with our excellent person-to-person mortgage loan support all along the way. We’ll also help you save money on closing costs so you can focus on settling in.
Buying a home can feel overwhelming, we'll help make it simple.
- Get pre-approved
- Communicate your needs with your mortgage loan officer
- Start your house hunt
- Work with your realtor and mortgage loan officer to finalize your purchase
- Make a house a home
Mortgage options.
Fixed rates
Best for:
Best for:
Maximum loan amount
Maximum loan amount
Terms (see rate table below for payment examples)
Terms (see rate table below for payment examples)
Down payment requirement
Down payment requirement
Property types
Property types
Mortgage insurance
Mortgage insurance
Conventional fixed
Best for:
Those who want the stability of a fixed rate for the life of their home loan.
Maximum loan amount
$766,550
Terms (see rate table below for payment examples)
15-, 20- and 30-year fixed rates
Down payment requirement
Minimum of 3% down for purchase, 5% no cash-out refinance, 20% cash-out refinance
Property types
1-4 unit single family residence, PUD, condo and manufactured homes
Mortgage insurance
Required for all loans with less than 20% down payment
Jumbo fixed
Best for:
Buyers whose bigger plans require a larger loan amount.
Maximum loan amount
$2,000,000
Terms (see rate table below for payment examples)
10-, 15-, 20- and 30-year fixed rates
Down payment requirement
Minimum of 5% down for purchase and no cash-out refinance, 30% cash-out refinance
Property types
Single family residence, PUD, condo
Mortgage insurance
Required for all loans with less than 20% down payment
Variable rates
Best for:
Best for:
Maximum loan amount
Maximum loan amount
Terms (see the rate table below for payment examples.)
Terms (see the rate table below for payment examples.)
Down payment requirement
Down payment requirement
Property types
Property types
Mortgage insurance
Mortgage insurance
Caps
Caps
Conventional ARMs
Best for:
Buyers seeking a lower rate or payment who may plan on moving in the future.
Maximum loan amount
$766,550
Terms (see the rate table below for payment examples.)
3-, 5- and 7-year ARMs
Down payment requirement
Minimum of 5% down for purchase and no cash-out refinance, 20% cash-out refinance
Property types
1-4 unit single family residence, PUD, condo and manufactured homes
Mortgage insurance
Required for all loans with less than 20% down payment
Caps
3/1 and 5/5 ARM
2% initial adjustment, 2% subsequent adjustment, lifetime adjustment 6%
7/1 ARM
5% initial adjustment, 2% subsequent adjustment, lifetime adjustment 5%
Jumbo ARMs
Best for:
Buyers seeking a lower rate or payment whose bigger plans require a larger loan amount.
Maximum loan amount
$2,000,000
Terms (see the rate table below for payment examples.)
3-, 5- and 7-year ARMs
Down payment requirement
Minimum of 5% down for purchase and no cash-out refinance, 30% cash-out refinance
Property types
Single family residence, PUD, condo
Mortgage insurance
Required for all loans with less than 20% down payment
Caps
3/1 and 5/5 ARM
2% initial adjustment, 2% subsequent adjustment, lifetime adjustment 6%
7/1 ARM
5% initial adjustment, 2% subsequent adjustment, lifetime adjustment 5%
First-time home buyers
Best for:
Best for:
Maximum loan amount
Maximum loan amount
Terms (see the rate table below for payment examples.)
Terms (see the rate table below for payment examples.)
Down payment required
Down payment required
Property types
Property types
Mortgage insurance
Mortgage insurance
Just for Starters®
Best for:
First-time home buyers who may want extra support on their home buying journey.
Maximum loan amount
Based on county property values
Terms (see the rate table below for payment examples.)
30 years
Down payment required
0% Down
Property types
Single family residence, PUD, condo and manufactured homes
Mortgage insurance
Not required
FHA Loans
Best for:
First-time home buyers and those looking for a low down payment option. This applies to purchasing, refinancing or re-establishing homeownership.
Maximum loan amount
Based on county property values
Terms (see the rate table below for payment examples.)
15, 20 and 30 years
Down payment required
Minimum of 3.5% down for purchase, 2.25% rate and term refinance (value determined by the lesser of the purchase price or appraised value), 20% equity needed for cash-out refinance
Property types
1-4 unit single family residence, PUD, condo and manufactured homes
Mortgage insurance
Required for all loans regardless of down payment amount
Veterans & educators
Best for:
Best for:
Maximum loan amount
Maximum loan amount
Terms (see the rate table below for payment examples.)
Terms (see the rate table below for payment examples.)
Down payment required
Down payment required
Property types
Property types
Mortgage insurance
Mortgage insurance
VA Loans
Best for:
Qualified military veterans and active military members seeking flexible financing options.
Maximum loan amount
$766,550
Terms (see the rate table below for payment examples.)
15, 20 and 30 years
Down payment required
0%
Property types
Single family residence, PUD, condo and manufactured homes
Mortgage insurance
Not required
Homeroom®
Best for:
People working at an accredited educational institution seeking to purchase a home or refinance an existing home.
Maximum loan amount
Based on county property values
Terms (see the rate table below for payment examples.)
30 years
Down payment required
0%
Property types
Single family residence, PUD, condo and manufactured homes
Mortgage insurance
Not required
Additional mortgage loan rate info.
Terms | Rate | Annual percentage | Points | 1-month payment* |
|---|---|---|---|---|
| Learn more about mortgage purchase loans View mortgage refinance rates The annual percentage rates (APRs) for the 30 Year Fixed, 15 Year Fixed, and 5 Year adjustable rate loans are calculated based on a purchase of single family, owner occupied residence with a down payment of 25%, a loan amount of $412,500.00, and a property located in Multnomah County, Oregon. The annual percentage rates (APRs) for the Homeroom and Just for Starters fixed rate loans are calculated based on a purchase of a single family, owner occupied residence with a purchase price and 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 a purchase of a single family, owner occupied residence with a down payment of 25%, a loan amount of $766,551, 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 down payment or 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 6.569% | Points 0.125% | 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 6.131% | Points 0.250% | 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 Just for Starters | Rate 7.750% | Annual percentage 7.849% | Points 0.500% | 1-month payment* $3,940.27 |
Terms 5/5 ARM | Rate 6.500% | Annual percentage 6.831% | Points 0.500% | 1-month payment* $2,607.28 |
Terms 5/5 jumbo ARM | Rate 6.500% | Annual percentage 6.821% | Points 0.500% | 1-month payment* $4,740.51 |
Terms Rates effective: | Rate December 5, 2024 | Annual percentage | Points | 1-month payment* |
Find your ideal new home with our local team.
Choosing OnPoint Mortgage for your next home loan.
As a local mortgage leader we offer some of the best mortgage loan rates you can find. These days, buying a home in the Pacific Northwest has many challenges. Getting a great rate on your home loan shouldn’t be one of them.
Get a better rate on your home loan with OnPoint.
As a local community credit union we offer lower rates than national banks as well as offering local loan decisions and servicing. Local loan decisions mean that we can save you time when you need it most—when you’re closing on your new home.
OnPoint is simply the best local community credit union option for your first or next mortgage. Our local team of mortgage experts is here to help you get started. Connect with a Mortgage Officer today.
- Joan B.LOVE the credit union and so glad they are close. ALWAYS fabulous customer service.
Turning home dreamers into homeowners.
Not just a dream. With OnPoint, you can finance a high-quality home at a great low rate. This is perfect for first-time home buyers that intend to use the property as a primary residence.
Making homeownership accessible and affordable.
We make buying your first home more accessible and more affordable, with no down payment requirement, no private mortgage insurance, low fees and closing costs, plus a local expert to guide you along the way. Our First-Time Homebuyer Mortgage* can help get you the keys to your first home.
APPLY FOR A MORTGAGE LOAN ONLINEFirst-time home buyer webinar
Attend a free seminar and make your home buying process fast and easy.
More options for your home.
Refinance your home loan
We can help you lower your monthly payments or pay off your mortgage faster.
Home protection plans
Get the coverage you need for your home’s appliances and systems with an American Home Shield Protection Plan.
Online mortgage payments
Enjoy the convenience of making your monthly mortgage payment online.
Home loan 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.
Apply for an OnPoint Mortgage today.
Get started today.
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Disclosures
All OnPoint loans are subject to credit terms and approval.
