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.
September 22, 2019
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%
The median home value for Portland, OR (Multnomah County) is $422,261
The median household income for Portland, OR (Multnomah County) is $62,215
Based on current mortgage rates and a 10% down payment, you need to make $78,343 per year to buy the median priced home in Portland
The home price you can afford to buy based on household income in Portland is 79% of the median home value which means housing prices are very expensive
Portland (Multnomah County) ranks 34 out of 36 counties in Oregon and 3,092 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
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
FHA loan limits for Portland, OR
VA loan limits for Portland, OR
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index