The Best Mortgage Lenders in Silverton, OR
Compare verified mortgage lenders serving Silverton, Oregon. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Silverton
Featured Mortgage Lenders
Umpqua Bank Mortgage
Umpqua Bank
Umpqua Bank stands out as the premier local mortgage lender in Silverton with deep community roots and exceptional customer satisfaction ratings. As an Oregon-based regional bank with a physical branch in Silverton, they offer personalized service and competitive rates tailored to local market conditions. Their mortgage specialists are known for guiding clients through the entire process with expertise in both purchase and refinance loans. With nearly 25 years of serving Oregon communities, Umpqua has built a reputation for reliability, transparent communication, and supporting local homebuyers with flexible loan programs including specialized options for first-time buyers.
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Guild Mortgage Company
Guild Mortgage Company
Guild Mortgage has established itself as a top-rated mortgage lender serving the Silverton area from their nearby Salem location. With exceptional customer reviews highlighting their responsive service and competitive rates, they specialize in making the mortgage process straightforward and transparent. Their loan officers have extensive experience with the Willamette Valley housing market and offer a comprehensive range of loan products. Guild is particularly noted for their first-time homebuyer programs and flexible qualification criteria, backed by strong local relationships with real estate professionals throughout Marion County.
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OnPoint Community Credit Union
OnPoint Community Credit Union
OnPoint Community Credit Union, while headquartered in Portland, serves members throughout Oregon including Silverton and offers highly competitive mortgage rates with exceptional member satisfaction. As a member-owned financial institution, they prioritize customer service over profits, resulting in lower fees and more personalized attention. Their mortgage team provides comprehensive guidance through the entire home financing process with particular strength in first-time buyer programs and refinancing. With digital tools that streamline the application process and local loan officers familiar with the Silverton market, OnPoint delivers the combination of competitive pricing and outstanding service that earns them consistently high ratings.
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Frequently Asked Questions
Common questions about mortgage lending in Silverton, OR
Are there any special down payment assistance or first-time homebuyer programs available specifically for Silverton, Oregon?
Yes, Silverton homebuyers can access statewide programs like the Oregon Bond Residential Loan Program (with a Silverton-specific income limit of $192,000 for 1-2 person households) and the Oregon Down Payment Assistance (DPA) program. These programs offer competitive interest rates and up to $15,000 in down payment assistance as a second, forgivable loan, which is particularly helpful given Marion County's rising home prices.
How does Silverton's location in the Willamette Valley and its proximity to Salem and Portland affect mortgage rates and lender options?
While national rates set the baseline, Silverton's position within the Portland-Vancouver-Hillsboro MSA means you have access to a wide range of both local credit unions (like Maps Credit Union) and larger regional banks. This competition can be advantageous. However, lenders also consider the local risk environment, which in Silverton's stable, small-town market is generally viewed favorably.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Silverton?
Marion County property taxes are a key component, with Silverton's rate typically around 1.1-1.3% of assessed value. Your escrow payment will also include homeowner's insurance, which may be slightly higher than average due to the rural/wildland-urban interface setting, potentially requiring additional wildfire coverage. Always get a localized quote for accurate budgeting.
Are USDA Rural Development loans a viable option for buying a home in Silverton, OR?
Absolutely. Silverton is eligible for USDA Rural Development loans, which offer 100% financing with no down payment. This is a popular and advantageous program for the area, as the city meets the USDA's population requirements. It's an excellent option for moderate-income buyers looking at properties within the city limits or the surrounding rural areas of Marion County.
How do the older, historic homes in downtown Silverton affect the mortgage appraisal and inspection process?
Purchasing a character home in the historic district requires extra diligence. Lenders will mandate a thorough inspection, and appraisers will carefully compare your home to similar historic properties, which can be challenging due to their uniqueness. Be prepared for the possibility of repair requirements (like outdated electrical or plumbing) that could be stipulated by the lender before closing.
Nearby Cities
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Why Choose a Mortgage Lender in Silverton?
Local Market Knowledge
Lenders who understand Silverton'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 Silverton and get competitive rates on your home loan.