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Portland

Current Mortgage Rates in Portland, Oregon

Compare mortgage rates and fees for leading lenders in Portland, OR. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Portland.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Portland. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Portland, OR as of January 18, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Portland, OR Mortgage Rates Compare?

January 18, 2020

The current average rate for a 30 year fixed rate mortgage in Portland is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Portland, OR Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Portland, Oregon?

Below we provide helpful information on the real estate market, home prices and housing affordability in Portland. Understand how much you need to earn to afford a home in Portland, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Portland fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Portland is right for you.

The median home value for Portland, OR (Multnomah County) is $442,529

Based on current mortgage rates and a 10% down payment, you need to make $79,644 per year to buy the median priced home in Portland

With this income, you could qualify for a $398,276 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Portland is $1,844

The median household income for Portland, OR (Multnomah County) is $63,668

Based on this income, you can afford a home valued at approximately $353,760

The home price you can afford to buy based on household income in Portland is 80% of the median home value which means housing prices are very expensive. Portland (Multnomah County) ranks 33 out of 36 counties in Oregon and 3,085 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Portland, OR is very expensive

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Loan Limits for Portland, Oregon

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Portland (Multnomah County) below.

Conforming loan limits for Portland, OR

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Portland, OR

1 unit: $491,050
2 units: $628,600
3 units: $759,850
4 units: $944,350

VA loan limits for Portland, OR

1 unit: $510,400

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