mortgage loans-couple standing outside their new home after receiving an OnPoint mortgage home loan

Home loans

A house doesn't make a home. People do.

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.

Read more Apply for mortgage pre-approval online

Buying a home can feel overwhelming, we'll help make it simple.

  1. Get pre-approved
  2. Communicate your needs with your mortgage loan officer
  3. Start your house hunt
  4. Work with your realtor and mortgage loan officer to finalize your purchase
  5. Make a house a home
Find a local mortgage loan officer

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

    $647,200

  • 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

    $647,200

  • Terms (see the rate table below for payment examples.)

    3-, 5- and 7-year ARMs

  • 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

  • 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), 15% 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

    $647,200

  • 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.

Mortgage Purchase Rates
Mortgage Purchase Rates

Terms

Rate

Annual percentage
rate (APR)

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 $180,000.00, 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 $240,000.00 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 $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 740 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

5.250%

Annual percentage
rate (APR)

5.359%

Points

0.250%

1-month payment*

$993.97

Terms

30 year jumbo fixed rate

Rate

5.250%

Annual percentage
rate (APR)

5.289%

Points

0.000%

1-month payment*

$4,141.53

Terms

15 year fixed rate

Rate

4.625%

Annual percentage
rate (APR)

4.785%

Points

0.125%

1-month payment*

$1,388.51

Terms

Homeroom

Rate

6.500%

Annual percentage
rate (APR)

6.583%

Points

0.000%

1-month payment*

$1,516.96

Terms

Just for Starters

Rate

6.500%

Annual percentage
rate (APR)

6.583%

Points

0.000%

1-month payment*

$1,516.96

Terms

5/5 ARM

Rate

4.500%

Annual percentage
rate (APR)

4.519%

Points

0.250%

1-month payment*

$912.03

Terms

5/5 jumbo ARM

Rate

4.500%

Annual percentage
rate (APR)

4.455%

Points

0.000%

1-month payment*

$3,800.14

Terms

Rates effective:

Rate

07-01-2022

Annual percentage
rate (APR)

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.

OnPoint mortgage-team outside local OnPoint branch in downtown portland
Home buying calculators
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LOVE the credit union and so glad they are close. ALWAYS fabulous customer service.

- Joan B.

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.

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First-time home buyer webinar

Attend a free seminar and make your home buying process fast and easy.

View and sign up for the next webinar

More options for your home.

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Refinance your home loan

We can help you lower your monthly payments or pay off your mortgage faster.

Refinancing options
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Home protection plans

Get the coverage you need for your home’s appliances and systems with an American Home Shield Protection Plan.

Explore home coverage
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Online mortgage payments

Enjoy the convenience of making your monthly mortgage payment online.

Log into Digital Banking

Home loan FAQs

Log into the OnPoint Mortgage loan center to check the status of your loan. You can also contact your Mortgage Loan Officer.
Prequalification is a rough calculation of the mortgage payment you can afford based on information you provide to your Mortgage Loan Officer.

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.
When applying for a first mortgage, you'll need to provide original copies of the following items. You will need:
  • 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.
If you have any questions about the documents you'll need to bring to your mortgage appointment, please contact us at 503.273.1755 or toll-free at 800.527.3932 ext. 5220.
Talking to your lender first can save you the time and frustration of finding a house that you can't afford. By speaking to a lender early in your home buying process, you can find out what you can afford in a house and get prequalified and preapproved. Your lender can also help answer questions about the steps you can take to improve credit or increase savings in order to be better prepared for home ownership.
We do not offer reverse mortgages. However, OnPoint offers other great home loan options with low rates and low payment options.
At this time, OnPoint does not do loans on undeveloped property. You may consider other lending options that may also fit your goals (such as a home equity line of credit, personal loan or personal line of credit). If you would like to speak with a loan officer regarding other potential lending options, please call Member Services at 503.228.7077 or 800.527.3932 (M-F 7 a.m. to 7 p.m., Sat. 9 a.m. to 3 p.m.)

Get started with your mortgage loan – new purchase or refinance. Check rates, calculate your payments or apply online today!
To access your mortgage information in Digital Banking, log in and select your mortgage account from the home screen. Here you will see all of your recent mortgage payments and transactions. For more details, click the Details & Settings tab and select the Payment Options and Loan Info link.
Yes, OnPoint offers FHA loans to qualifying borrowers, as well as VA loans to eligible veterans and Active Duty personnel. For more information, visit an OnPoint Mortgage Loan Officer at your nearest branch, or call us at 503.273.1755 or 800.527.3932, ext. 5220.
Closing costs on a mortgage or home equity line of credit generally include title insurance, flood certification and an appraisal.
Discount points are considered a form of interest. Each point is equal to one percent of the loan amount. You pay them, up front, at your loan closing in exchange for a lower interest rate over the life of your loan. This means more money will be required at closing, however, you will have lower monthly payments over the term of your loan.

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.

Apply for an OnPoint Mortgage today.

Get started today.

Apply online

Call our local mortgage team.

Disclosures

All OnPoint loans are subject to credit terms and approval.

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