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Conventional loans in Oregon

Quick answer

Conventional loans in Oregon allow as little as 3% down (about $13,626 on a $454,200 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Oregon

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical OR home value$454,200
3.5% down on typical home$15,897
20% down on typical home$90,840
Avg. effective property tax0.83%/yr (~$314/mo)
Income for typical home (31% rule)$141,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Oregon programs pair with Conventional loans?

  • Oregon Bond Residential Loan: Below-market-rate loans for first-time buyers within limits.
  • Flex Lending: A first mortgage with down payment assistance options.

Details and current limits: Oregon Housing and Community Services (OHCS).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Oregon cities

Conventional in PortlandConventional in EugeneConventional in SalemConventional in GreshamConventional in HillsboroConventional in BendConventional in BeavertonConventional in MedfordConventional in SpringfieldConventional in CorvallisConventional in AlbanyConventional in TigardConventional in AlohaConventional in Lake OswegoConventional in Grants PassConventional in KeizerConventional in Oregon CityConventional in RedmondConventional in McMinnvilleConventional in BethanyConventional in TualatinConventional in West LinnConventional in WoodburnConventional in Forest GroveConventional in WilsonvilleConventional in NewbergConventional in Happy ValleyConventional in RoseburgConventional in HayesvilleConventional in Klamath FallsConventional in AshlandConventional in MilwaukieConventional in SherwoodConventional in AltamontConventional in Cedar MillConventional in HermistonConventional in Central PointConventional in LebanonConventional in CanbyConventional in Oak GroveConventional in DallasConventional in PendletonConventional in Four CornersConventional in TroutdaleConventional in The DallesConventional in Coos BayConventional in St. HelensConventional in CorneliusConventional in La GrandeConventional in SandyConventional in OatfieldConventional in GladstoneConventional in OntarioConventional in Oak HillsConventional in PrinevilleConventional in MonmouthConventional in White CityConventional in DamascusConventional in Cottage GroveConventional in Fairview

Frequently asked questions

Yes. Conventional loans are available statewide in Oregon through approved lenders, subject to county loan limits where they apply.

Often yes. Oregon Housing and Community Services (OHCS) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Oregon.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.