Home loan options

Learn more about Oregon State Credit Union home loan options

Listed here are some details about each of our home loans. You’ll find options for purchase, refinance, and home equity. Questions? Whether you’re a first-time homebuyer or in the market for a jumbo or home equity loan, contact your Oregon State Credit Union Home Loan Center.

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Purchase a home

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Fixed-rate

  • Fixed-rate home loans offer a predictable monthly payment and a savings of up to $500 off closing costs.1 With fixed-rate home loans, your interest rate and monthly principal and interest payments will stay the same for the entire term of the loan. That predictability makes it easier to set your budget and protects you from rising interest rates for the life of the loan.

Adjustable-rate

  • Adjustable-rate mortgages (ARMs) offer a savings of up to $500 off closing costs1, and have an interest rate that may change periodically depending on changes in a corresponding financial index that’s associated with the loan. When the rate changes, generally, your monthly payment will increase if rates go up and decrease if rates fall. An adjustable-rate home loan may offer you the flexibility you need if you expect future income growth or if you plan to move or refinance within a few years.

First-time homebuyers

Land loans

  • If you’re buying land to build a primary residence, our land loan may an option. Financing is available for unimproved property or building lots up to 10 acres that have basic improvements and utilities required for the area.

Construction loans

  • If you’re interested in building your custom dream home from the ground up, we offer you the convenience of one loan to finance the construction of your home and act as your permanent loan when the building process is complete. You must be working with an Oregon State Credit Union-approved builder list.

Jumbo loans

  • If your home loan will be for an amount higher than conforming thresholds set by Fannie Mae and Freddie Mac, a jumbo home loan may be an option. Jumbo home loans typically have a slightly higher interest rate than a smaller home loan due to the different underwriting and home equity requirements.

Refinance a home

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Jumbo loans

  • If your home loan will be for an amount higher than conforming thresholds set by Fannie Mae and Freddie Mac, a jumbo home loan may be an option. Jumbo home loans typically have a slightly higher interest rate than a smaller home loan due to the different underwriting and home equity requirements. The credit union offers jumbo loans at competitive rates for loan amounts in excess of $417,000 for a one-unit property.

Manufactured home and land loans

  • We offer affordable manufactured home and land loans for homes which have been reclassified from “Manufactured Home” to “Real Property.”

Home equity

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Home equity line of credit

Home equity loan

  • Our fixed-rate home equity loans may be a good choice for homeowners who are looking for funds for a one-time expense with the security of a fixed interest rate, predictable monthly payments and a definite payoff date. You’ll receive your funds in a lump sum, and you can pay down additional principal at any time without penalty.

1. $500 reduction off of closing costs for Oregon State Credit Union Premier Members and does not apply to Home Equity Line of Credit, Home Equity Loan or Land Loan. Organization NMLS #472475.

Oregon State Credit Union ©2017 Oregon State Credit Union

  • PO Box 306
  • Corvallis, OR 97339
  • Phone: 800-732-0173

Routing number : 323274270