Buy a home now, switch to a lower rate later

Yes, with a mortgage from Oregon State Credit Union you can buy your home now and if our rates drop later, you'll have the option to get a lower rate. Apply for your home loan now — no need to wait for a lower rate. ¹

Apply now | Mortgage with rate reduction

Benefits and details of this mortgage with one-year rate relock special offer

Special offer rate reduction on home loans

• Check rates for loans included in this offer: Fixed-rate purchase or refinance (30 or 15 year terms), Jumbo purchase or refinance (30 or 15 year terms) and First-time homebuyer (30, 20 and 15 year terms).

• Rate reduction option is only $500. You could save thousands on associated costs.

• Bypasses the refinancing process, saving you time and money when rates drop.

Special offer rate reduction on home loans

Talk with our home loan officers

1. Disclosure — Subject to the following conditions: This offer is available only on new, owner-occupied primary residence long-term mortgage loans (conventional and jumbo), including refinances, and only within the first 12 months post-funding from your loan’s execution date. Construction-to-permanent loans and land loans are ineligible for the offer. You will be ineligible for the offer if you are in default on your loan or were in default at any point prior to notifying Oregon State Credit Union of your election to exercise the option. To be eligible, your loan must have originally been qualified with (1) a Loan-to-Value ratio equal to or less than 90% unless you are a First Time Home Buyer per Oregon State Credit Union’s written guidelines, in which case your Loan-to-Value ratio qualification would be equal to or less than 97% and (2) a Debt-to-Income ratio to be equal to or less than 45%. You must notify Oregon State Credit Union in writing during the 12-month post-loan-funding period to exercise this option. The new rate goes into effect as of the date you sign a re-lock and modification agreement. You have the option to re-amortize your payments if you qualify. This option is only available once during the designated 12-month period and requires a $500.00 Special Rate Protection payment from you upon approval.