The Best Mortgage Lenders in Union, OR
Compare verified mortgage lenders serving Union, Oregon. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Union
Featured Mortgage Lenders
Grande Ronde Mortgage
Grande Ronde Mortgage
Grande Ronde Mortgage is a highly-regarded local mortgage broker serving Union County and surrounding areas with exceptional personalized service. With over two decades of experience, they've built a stellar reputation for guiding clients through the mortgage process with expertise and care. Their deep understanding of Eastern Oregon's unique real estate market and strong relationships with local realtors make them a top choice for Union residents seeking competitive rates and local expertise.
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Sterling Savings Bank
Banner Bank (formerly Sterling Savings Bank)
As a well-established regional bank with a strong presence in Eastern Oregon, Banner Bank (formerly Sterling Savings) has been serving Union County residents for decades. Their local branch in nearby La Grande provides personalized mortgage services with the backing of a respected financial institution. They're particularly known for their competitive construction loans and excellent customer service, making them a trusted choice for Union homebuyers seeking both local decision-making and institutional stability.
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Columbia Bank
Columbia Bank
Columbia Bank has built an outstanding reputation throughout Eastern Oregon with their community-focused approach to mortgage lending. Serving Union from their nearby Baker City location, they offer comprehensive mortgage solutions with local underwriting and decision-making. Their experienced loan officers provide personalized guidance through the entire homebuying process, and they're particularly noted for their competitive USDA and rural development loans, which are well-suited for the Union area market.
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Frequently Asked Questions
Common questions about mortgage lending in Union, OR
Are there any special down payment assistance or first-time homebuyer programs available specifically in Union, Oregon?
Yes, homebuyers in Union can access statewide programs like the Oregon Bond Residential Loan Program (with a 30-year fixed-rate first mortgage) and the Oregon Down Payment Assistance (DPA) program, which offers a second loan for down payment and closing costs. These programs are particularly valuable in Union's market, where median home prices are more accessible than in larger cities, making the assistance go further. Union County may also have local community development resources, so checking with the city or a local lender is recommended.
How do property types common in Union, like homes on larger lots or with agricultural potential, affect mortgage lending?
Lenders in Union are familiar with properties that have more land, but if a parcel is larger than 5-10 acres or has outbuildings used for income, it may be considered a "non-standard" or rural property. This can sometimes require a specialized appraisal and potentially affect loan terms or available programs. It's crucial to be upfront with your lender about the property's characteristics to ensure they can provide a suitable loan product for Union's mix of in-town homes and rural properties.
What are typical mortgage rates for buyers in Union, OR, and how do they compare to the national average?
Mortgage rates in Union generally align with national averages, as they are set by broader financial markets. However, your specific rate will depend heavily on your credit score, loan type, and down payment. Working with a local lender who understands the Union County market can sometimes provide access to competitive regional credit union rates or special programs that might offer a slight edge, especially for first-time or moderate-income buyers in the area.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Union?
Union County has a relatively low property tax rate compared to more urban parts of Oregon, which can make homeownership more affordable. However, you should still budget for homeowners insurance, and if your down payment is less than 20%, you'll also have Private Mortgage Insurance (PMI). For properties outside the city limits or in wildfire-prone areas, insurance costs can be higher, so it's wise to get quotes early in the homebuying process to accurately estimate your total monthly payment.
How does the seasonal economy in a town like Union, which is near agricultural and timber areas, impact mortgage approval for self-employed buyers?
Lenders understand the seasonal income patterns common in Union County for those in farming, logging, or related trades. As a self-employed borrower, you will typically need to provide two years of complete tax returns to demonstrate stable annual income. Lenders will average your income over those years to smooth out seasonal fluctuations. Working with a local mortgage broker experienced in rural Oregon economies is key, as they can help present your financial picture effectively to underwriters.
Why Choose a Mortgage Lender in Union?
Local Market Knowledge
Lenders who understand Union'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 Union and get competitive rates on your home loan.