Oregon Mortgage Rates

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About Mortgage Rates in Oregon

Mortgage loans for first time home buyers in Oregon areas such as Portland, Medford and even Salem are offered in various ways. You can find fixed rate mortgages, adjustable rate mortgages and ARM loans among others.The only way to ensure you get the best possible package is to compare all the potential offers side-by-side. With an area of 64% owner occupied homes out of nearly 1.7 million and growing the need for a mortgage loans continues to grow.

Mortgage 101 simple mortgage rate tools can bring to the table many loan options for you to choose from. You will be given the lowest interest rates, best possible closing costs and many other features you are looking for such as no low down payments and even no PMI options.

The 5/5 & 5/1 Adjustable Rate Mortgage

This mortgage type offers a stable payment and interest rate for the first five years. In the sixth year the interest rates, and therefore the payments, are adjusted every five years for the 5/5 arm and every year for the 5/1 arm.
Fixed Rate Mortgage

Fixed Rate Mortgages in Oregon

This is your parent's mortgage loan. The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.

Other Mortgage Terms

Origination Fee - The fee charged by a lender to prepare loan documents make credit checks inspect and sometimes appraise a property; usually computed as a percentage of the face value of the loan.

Mortgage Insurance - Money paid to insure the mortgage when the down payment is less than 20 percent.

Annual Percentage Rate (APR) - The measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. Because all lenders apply the same rules in calculating the annual percentage rate it provides consumers with a good basis for comparing the cost of different loans.

Closing Costs - Expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee property taxes charges for title insurance and escrow costs appraisal fees etc. Closing costs will vary according to the area country and the lenders used.