Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Tap on the profile icon to edit
your financial details.

Oregon Mortgage Calculator

Your Details Done

Overview of Oregon Housing Market

Oregon has some of the lowest homeowners insurance costs in the U.S., but its housing market isn’t quite as affordable. The state’s median home values are well above the national average, though.

Today's Mortgage Rates in Oregon

Product Today Last Week Change
30 year fixed 6.50% 6.88% -0.38
15 year fixed 5.88% 5.25% +0.63
5/1 ARM 6.13% 5.81% +0.31
30 yr fixed mtg refi 6.50% 6.88% -0.38
15 yr fixed mtg refi 5.94% 5.25% +0.69
7/1 ARM refi 5.75% 5.94% -0.19
15 yr jumbo fixed mtg refi 2.94% 3.02% -0.08

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research

Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.

Not sure how much you can afford? Try our home affordability calculator.

Total Monthly Payment

Monthly Payment
Over Time

Total Monthly Payment Breakdown

Based on a $350,000 mortgage

Taxes &
Other Fees
Payment (P&I)
Mortgage Payment (P&I)
Home Insurance
Homeowners Insurance
Mortgage Insurance (PMI)
Taxes & Other Fees
Property Taxes
HOA/Condo Fees
Total Monthly Payment

Mortgage Over Time

Based on a $350,000 mortgage

Remaining Mortgage Balance
Principal Paid
Interest Paid
Year 1

Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.

Not sure how much you can afford? Try our home affordability calculator.

Edit Your Mortgage Details

Home Price
Down Payment
Mortgage Interest Rate
Loan Type

Tax, Insurance & HOA Fees

Annual Property Tax
Annual Homeowners Insurance
Monthly HOA/Condo Fees

Other Financial Considerations

In addition to making your monthly payments, there are other financial considerations that you should keep in mind, particularly upfront costs and recommended income to safely afford your new home.

Recommended Minimum Savings

Show Breakdown
Minimum Down Payment
Closing Costs
Estimated Cash Needed to Close
Recommended Cash Reserve
Total Recommended Savings

Recommended Minimum Income

Show Explanation

This is based on our recommendation that your total monthly spend for your monthly payment and other debts should not exceed 36% of your monthly income.

Housing Payment
Other Monthly Debt Payments

Compare Loan Types

The most common loan terms are 30-year fixed-rate mortgages and 15-year fixed-rate mortgages. Depending on your financial situation, one term may be better for you than the other.

With a 30-year fixed-rate mortgage, you have a lower monthly payment but you’ll pay more in interest over time. A 15-year fixed-rate mortgage has a higher monthly payment (because you’re paying off the loan over 15 years instead of 30 years), but you can save thousands in interest over the life of the loan.

Loan Term 30 Year Fixed 15 Year Fixed
Monthly Payment $1,111 $1,111
Mortgage Rate 1.11% 1.11%
Total Interest Paid $1,111 $1,111
Mortgage Type Options
Based on a mortgage
Home Value Points Location Credit Score
Not what you're looking for? View personalized rates
No mortgages were found.
Searching for Mortgages...
View more mortgages
No mortgages were found.
Searching for Mortgages...
View more mortgages
No mortgages were found.
Searching for Mortgages...
View more mortgages

How We Got This Answer

  • About This Answer

    This calculator determines how much your monthly payment will be for your mortgage.

    We take your inputs for home price, mortgage rate, loan term and downpayment and calculate the monthly payments you can expect to make towards principal and interest.

    We also add in the cost of property taxes, mortgage insurance and homeowners fees using loan limits and figures based on your location. You can also manually edit any of these fees in the tax insurance & HOA Fees section of this page.

    We also calculate the way that your mortgage balance changes over time as you make payments towards principal and interest. These figures do not include the payments made to taxes or other fees.

    Have additional questions about this calculator? Feel free to email our expert at! more
  • Our Assumptions

    In order to create the best comparison with your finances in 2022 this calculator does not account for home value appreciation or inflation. more
  • Our Home Buying Expert

    Michelle Lerner Home Buying

    As SmartAsset’s home buying expert, award-winning writer Michele Lerner brings more than two decades of experience in real estate. Michele is the author of two books about home buying: “HOMEBUYING: Tough Times, First Time, Any Time,” published by Capitol Books, and “New Home 101: Your Guide to Buying and Building a New Home.” Michele’s work has appeared in The Washington Post,, MSN and National Real Estate Investor magazine. She is passionate about helping buyers through the process of becoming homeowners. The National Association of Real Estate Editors (NAREE) honored Michele in 2016 and 2017 with the award for Best Mortgage or Financial Real Estate Story in a Daily Newspaper. more
Share Your Feedback
How would you rate your experience using SmartAsset’s financial advisor matching service so far?
What is the most important reason for that score? (optional)
Please limit your response to 150 characters or less.
Thank you for your answer! Your feedback is very important to us.

Factors in Your Oregon Mortgage Payment

Homeowners pay their mortgage each month (principal and interest) and sometimes pay extra into an escrow account. Escrow pays out property taxes and homeowners insurance. Oregon property taxes are below the national average, which is good news for homeowners. This is due to several laws that put tax caps on tax rates and growth.

If you own a home in Oregon, a local assessor will appraise the property annually to determine fair market value. Your tax rate will apply to either the market value or the maximum assessed value, whichever is lower. Oregon law states that maximum assessed value (MAV) can’t increase by more than 3% each year (unless there are changes to the property such as an addition).

The average effective property tax rate in Oregon is 0.90%, depending on where the property is located. School district taxes, included in the average effective property tax rate, are limited to $5 per $1,000 in market value. Overall, effective tax rates in Oregon are limited to 1.5%. Homeowners may also be eligible for a property tax exemption. Oregon boasts over 100 exemption programs so it’s worth seeing if you qualify for reduction in tax liability.

As for homeowners insurance, Oregon again is affordable. In fact, it’s one of the cheapest states in the U.S. for annual premiums, with an average of $1,608 a year, according to data from While the state has relatively few natural disasters compared to states such as Florida and Texas with high flooding and hail risk, Oregon does see significant earthquake activity. Most homeowners insurance policies don’t cover earthquake damage, so 20% of Oregonians opt to purchase a separate policy to cover home and property damage.

In addition to earthquakes, Oregon is the eighth-most wildfire-prone state, with 9% of all property at high or extreme risk from wildfires, according to 2021 estimates by the Insurance Information Institute. Homeowners can find information about what to do in case of a wildfire and how to guard against losses on Oregon’s government website.

If you’re an Oregon homeowner who can’t obtain insurance on the voluntary market (regular insurance channels), you can find basic coverage through the Oregon FAIR Plan Association (OFPA).

A financial advisor in Oregon can help you understand how homeownership fits into your overall financial goals. Financial advisors can also help with investing and financial planning - including retirement, taxes, insurance and more - to make sure you are preparing for the future.

Costs to Expect When Buying a Home in Oregon

However, before you make it to monthly payments of any sort, you’ll have to contend with a number of one-time costs associated with the home-buying process. One of the most important, which comes prior to finalizing a contract, is a home inspection. While not 100% mandatory, it’s the smartest choice on the part of the homebuyer to get a good idea of what they’re potentially spending hundreds of thousands of dollars on.

Home inspections in Oregon average $345 to $645, the lower end of the scale for smaller dwellings, the higher end for larger square footage. General home inspections usually cover the structure, pipes, electrical, roof, basement and a number of other items. If you want specific tests, such as water samples, well flow test, dry rot or pest, expect to pay extra per additional test. In Oregon, inspectors have to be licensed in accordance with state education and testing requirements.

The next step after a satisfactory home inspection, is usually finalizing the purchase contract and proceeding with your mortgage lender. Your lender will set a closing date with you. On that day, you’ll meet with a closing agent and usually your realtor and or attorney to sign a number of documents. You also pay a number of fees associated with home buying called closing costs. Oregon averages 1.26% of the purchase price for closing costs.

Average Closing Costs by County

CountyAvg. Closing CostsMedian Home ValueClosing Costs as % of Home Value
Hood River$4,104$373,6001.10%

Our Closing Costs Study assumed a 30-year fixed-rate mortgage with a 20% down payment on each county’s median home value. We considered all applicable closing costs, including the mortgage tax, transfer tax and both fixed and variable fees. Once we calculated the typical closing costs in each county we divided that figure by the county’s median home value to find the closing costs as a percentage of home value figure. Sources include the U.S. Census Bureau, Bankrate and government websites.

Within the umbrella term, “closing costs,” are a number of fees that go to separate entities. One of the biggest collectors of closing costs is your lender. These are called origination fees and include items and services such as underwriting, origin points, loan processing, commitment fees, document preparation, tax service and more. This is why you might see different mortgage closing cost quotes if you shop around for lenders; most of these fees depend on what the bank charges and differ across the board.

The rest of your money will go to third parties including the county and state you buy the home in, appraisal fees, credit reports and flood certification, survey, appraisal and attorney if you used one. This again, depends on whose services you use during the home-buying process.

Another cost is title insurance, generally required by your lender to protect against any title disputes or issues not caught during the title search and report. It’s a one-time cost that’s supposed to cover you through the life of the loan. You also have the option to purchase an owner’s policy if you’d like to be covered for the full home value, not just the loan amount.

In Oregon, only Washington County allows a real estate transfer tax. While this is usually paid for by the seller, it’s still a benefit to homebuyers who may eventually sell their home.

Details of Oregon Housing Market

Oregon, home of the majestic Mount Hood, is the 27th-most populous state with more than 4.24 million residents, according to estimates by the U.S. Census Bureau. This population is growing too, with Oregon clocking in at a 0.7% growth rate from 2019 to 2020.

The Beaver State, with its nickname matching the state flag, has 95,988 square miles of land area and 1,410 shoreline miles. You can divide the state into seven distinct regions: Central, Eastern and Southern Oregon, Greater Portland, Mount Hood/The Gorge, Oregon Coast and Willamette Valley, according to Oregon’s Tourism Commission.

The largest cities in the state include Portland, Eugene, Salem, Gresham, Hillsboro and Beaverton. Gresham, Hillsboro and Beaverton surround Portland, while Salem and Eugene can be found south of the city. In general, most of Oregon’s population resides in the western part of the state.

In our Healthiest Housing Markets study, Oregon ranked towards the bottom-middle of the pack. This low ranking is mainly due to a low score for affordability and stability. The other two factors we looked at were risk and ease of sale, which this state ranked well for.  According to recent Census data, the state’s median home value is $354,600.

If you’re hoping to buy a home in one of Oregon’s metropolises, you’ll need a deep pocket. Portland’s median home value is $383,600, according to recent Census data. Salem, the state capital, is more affordable at a $223,200 median home value. Eugene is a bit more expensive than Salem, with a $272,000 median home value.

Local Economic Factors in Oregon

Oregon, home of Nike, has seen steady GDP growth over the past several years, ranging from 3% to nearly 10%. Oregon's economic growth is mainly due to durable goods manufacturing, rather than information, which is what drove national GDP growth. However, after the dot com bubble burst in 2011, Oregon dropped from the second-fastest to the sixth-slowest. In 2011, it actually was the slowest.

The Beaver State had several Fortune 500 companies on the 2021 list, including Nike and Lithia Motors. In recent years the state’s largest employers, according to Oregon Live, have included Providence Health System, Intel, Fred Meyer, Oregon Health & Science University and Walmart. Oregon’s December 2021 unemployment rate was 4.1% compared to the national rate of 3.9%, based on data from the U.S. Bureau of Labor Statistics.

As for income, Oregon’s per capita personal income in 2020 was $56,312 according to the U.S. Bureau of Economic Analysis. That placed Oregon just below the national average of $59,510.

Although property taxes are some of the lowest in the country, the same can’t be said for Oregon’s income taxes. Your income will be taxed at the rate that corresponds with the tax bracket you’re in. The low end of the scale is 4.75% and the high end is 9.90% for those making more than $125,000. There are state tax credits available to help lower your tax bill. These include credits for child and dependent care, political contributions, energy credits, retirement income and more.

The good news is that Oregon has no sales tax. Not one single county in the state allows it so you’ll find savings in that arena. The state does charge an estate tax, however, but only on estates with a gross value of at least $1 million.

If you want to get into the weeds with details, try comparing your cost of living. For comparison, a single-income person moving from Cambridge, Massachusetts to Portland, Oregon earning $80,000 a year would see a 10% decrease in cost of living on average, due to cheaper housing and food. Someone moving from Miami, Florida to Portland would see 3% higher average costs due mostly to the tax difference. The same person moving from Minneapolis, Minnesota to Bend, Oregon wouldn't see much change in cost of living, but a move from Brooklyn, New York instead, would yield a 20% lower cost of living, on average.

Mortgage Legal Issues in Oregon

As a homebuyer, you’ll be glad to hear that Oregon has some buyer protections. The first is the most common: seller’s disclosures. Unlike some states, such as Massachusetts that doesn’t require disclosures by law, Oregon requires sellers to fill out and deliver a disclosure to each buyer who makes a written offer to purchase the property. The disclosure includes questions such as, “Are there any encroachments, boundary agreements, boundary disputes or recent boundary changes? Is the property connected to a public or community sewage system? Are there problems with settling, soil, standing water or drainage on the property or in the immediate area?” Disclosures are no substitute for home inspections, but they can help you get an idea of the property’s condition prior to purchase.

Further buyer protections, such as the requirement for sellers to have a smoke alarm installed, and to disclose any material concerns, can be found on the Oregon Realtors Association website.

As for Oregon’s foreclosure laws, the state uses both judicial (judge and lawsuit involved) and non-judicial (no court involvement) processes. If your deed of trust (mortgage document) includes a power of sale clause, your lender can foreclose using the non-judicial process. For this to happen, you have to be behind on your monthly mortgage payments. In some cases, your lender has to request a face-to-face meeting called a resolution conference. If nothing is resolved and you haven’t caught up on your payments, you’ll receive a Notice of Default and then a Notice of Trustee’s Sale, at least 120 days before the sale. In a judicial foreclosure, you’ll receive a Notice of Hearing to appear in court.

Oregon has a Foreclosure Avoidance Program and resources under the Division of Finance and Corporate Securities.

Oregon Mortgage Resources

Available Resources

ResourceProblem or IssueWho Qualifies
Oregon Housing and Community ServicesDown payment assistance up to $15,000.Eligible first-time homebuyers who complete a homebuyer education course.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

Homebuyers in the Beaver State can turn to the Oregon Housing and Community Services (OHCS) to find first-time homebuyer programs as well as down payment assistance information. The state has a residential loan program that provides tax-exempt revenue bonds to finance below market rate mortgage loans for qualified first-time homebuyers. Educational programs are available as well ranging from in-person classroom classes to online classes.

Low-to-moderate-income homebuyers in rural areas can benefit from USDA loans and programs. While you’ll have to meet income and credit eligibility criteria, the good news is that almost all of Oregon land is eligible for USDA programs except select areas near Portland, Salem and other cities.

Ready to get serious about planning? Start with taking a look at Oregon’s current mortgage rates. Crunching numbers can give you a better idea of what kind of mortgage payment you’ll be looking at if you decide to buy. While you’re at it, see how much your paycheck will change in Oregon if you’re moving from another state.