The Best Mortgage Lenders in Hammond, OR
Compare verified mortgage lenders serving Hammond, Oregon. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hammond
Featured Mortgage Lenders
Umpqua Bank Mortgage
Umpqua Bank
Umpqua Bank is the largest Oregon-based bank with a strong presence throughout the Pacific Northwest, including serving the Hammond area. They offer personalized mortgage services with local decision-making and have built a reputation for excellent customer service. Their mortgage specialists understand the unique coastal Oregon market and provide competitive rates with various loan options tailored to individual needs.
Loan Types:
Prestige Mortgage Inc.
Prestige Mortgage Inc.
Located just minutes from Hammond in Seaside, Prestige Mortgage has served the North Oregon Coast for two decades with exceptional customer satisfaction ratings. They specialize in coastal property financing and have deep knowledge of the local real estate market. Their team provides personalized service with quick turnaround times and competitive rates, making them a top choice for Hammond area residents.
Loan Types:
Guild Mortgage Company
Guild Mortgage Company
Guild Mortgage has a strong Oregon presence and serves the Hammond area with comprehensive mortgage solutions. With decades of experience and numerous industry awards, they offer competitive rates and exceptional customer service. Their local loan officers understand the coastal Oregon market challenges and provide personalized guidance through the entire mortgage process, from application to closing.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Hammond, OR
Are there any local or county-specific down payment assistance programs available for homebuyers in Hammond, OR?
Yes, homebuyers in Hammond (Clatsop County) should explore the "Oregon Bond Residential Loan Program" (aka Oregon First) and the "Cash Advantage" program, which are statewide but particularly valuable here. These programs offer competitive interest rates and down payment assistance, often in the form of a second mortgage that can be forgiven over time, making them excellent for first-time and moderate-income buyers in the local market.
How does Hammond's location in a coastal flood zone affect the mortgage process and insurance requirements?
Due to Hammond's proximity to the Columbia River and Pacific Ocean, many properties are in designated flood zones. Lenders will require a separate flood insurance policy as a condition of your mortgage, which can add a significant ongoing cost. It's crucial to order a Flood Zone Determination early in the process to understand the specific risk and insurance premium for your desired property.
What are typical property tax rates in Hammond, and how do they impact my mortgage payment?
Property tax rates in Hammond and Clatsop County are relatively moderate for Oregon, typically ranging from 1.0% to 1.2% of assessed value annually. Your lender will escrow these taxes as part of your monthly mortgage payment (PITI). It's important to note that tax rates can vary slightly based on specific district levies, so getting an accurate estimate from the county assessor is key for budgeting.
As a small coastal city, does Hammond have unique considerations for home appraisals that might affect my loan?
Absolutely. Appraisals in Hammond must carefully consider the mix of older, historic homes and newer constructions, as well as the high demand for properties with water views versus those inland. Comparable sales ("comps") can be limited, sometimes requiring appraisers to look at nearby Warrenton or Astoria, which may lead to valuation challenges. Using a local lender familiar with the North Coast market is advantageous.
Are there specific loan programs or considerations for purchasing a manufactured home in Hammond?
Yes, given the prevalence of manufactured homes in the area, many lenders offer specific FHA, VA, or USDA loans for manufactured homes that are permanently affixed to a owned lot. The key requirement is that the home must be classified as real property (not personal property), meaning it's on a permanent foundation and the borrower owns the land. This is a common and viable path to homeownership in Hammond.
Why Choose a Mortgage Lender in Hammond?
Local Market Knowledge
Lenders who understand Hammond'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 Hammond and get competitive rates on your home loan.