The Best Mortgage Lenders in Florence, OR
Compare verified mortgage lenders serving Florence, Oregon. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Florence
Featured Mortgage Lenders
Oregon Community Credit Union
Oregon Community Credit Union
Oregon Community Credit Union maintains a strong physical presence in Florence with a dedicated branch location, making them highly accessible for local residents. They consistently receive exceptional ratings for personalized service and competitive mortgage rates, particularly for first-time homebuyers. As a member-owned financial institution, they prioritize customer satisfaction over profit margins and offer comprehensive mortgage counseling. Their loan officers have extensive knowledge of the Oregon coast real estate market and provide tailored solutions for Florence's unique housing landscape.
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Umpqua Bank Mortgage Division
Umpqua Bank
Umpqua Bank has a significant physical branch presence in Florence and serves as one of the primary mortgage lenders for the central Oregon coast region. They receive high marks for their local decision-making capabilities and streamlined application process. Their mortgage specialists have deep roots in the Florence community and understand the specific challenges of coastal property financing. Umpqua is particularly noted for their responsive customer service and flexible underwriting approach for self-employed borrowers and unique property types common in the area.
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Guild Mortgage Company - Eugene Branch
Guild Mortgage Company
While based in Eugene, Guild Mortgage maintains an active lending presence throughout Lane County including Florence, with loan officers who regularly service the coastal community. They receive outstanding reviews for their expertise in government-backed loans and creative financing solutions for challenging scenarios. Guild is particularly recommended for their educational approach to the mortgage process and exceptional communication throughout the loan cycle. Their extensive experience with Oregon's varied property types, including coastal homes, makes them a top choice for Florence residents seeking reliable mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Florence, OR
Are there specific mortgage considerations for buying a home in Florence, OR, given its coastal location?
Yes, due to Florence's coastal environment, lenders often require additional inspections for properties in flood zones or near the dunes. You may be mandated to carry flood insurance, which can impact your total monthly payment and loan qualification. It's crucial to work with a local lender familiar with these area-specific requirements.
What are typical down payment assistance programs available for first-time homebuyers in Florence?
Oregon offers statewide programs like the Oregon Bond Residential Loan Program (with Oregon Cash Advantage) that provide competitive rates and down payment assistance for eligible first-time buyers in Florence. Additionally, local lenders may have relationships with regional nonprofits or credit unions offering specific assistance for Lane County residents.
How does Florence's market as a retirement destination affect mortgage lending?
Florence's popularity with retirees means lenders are experienced with non-traditional income verification, such as using asset depletion or retirement account distributions to qualify for a loan. However, the competitive market for single-story homes or properties with accessibility features can mean quicker closing timelines are advantageous.
Are USDA rural housing loans a viable option for mortgages in Florence, Oregon?
Absolutely. Most of the land in and around Florence is eligible for USDA Rural Development loans, which offer 100% financing (no down payment). This is a significant benefit given Florence's classification, making homeownership more accessible for low-to-moderate income buyers in the area.
How do property types common in Florence, like manufactured homes or older cottages, impact financing?
Financing for manufactured homes on owned land is available but may have stricter requirements regarding the home's age, foundation, and titling. For older cottages, especially in historic areas, lenders may require thorough inspections for deferred maintenance. Working with a lender experienced in these local property types is key.
Why Choose a Mortgage Lender in Florence?
Local Market Knowledge
Lenders who understand Florence's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Oregon.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Florence and get competitive rates on your home loan.