Buying a Home in Oregon | Churchill Mortgage

Here's what you need to know to get started if you’re looking at buying in the Beaver State.

Average Home Prices in Oregon

As of April 2025, the median sale price for a single-family home in Oregon is $489,133.

Average home price:

Portland: $536,333
Salem: $430,167
Eugene: $476,450
Bend: $776,500
Medford: $412,955

Source: zillow.com/home-values

Average Home Size in Oregon

The average size for a single-family home in Oregon is approximately 1,886 square feet.

Average home size:

Portland: 1,070 square feet
Salem: 1,842 square feet
Eugene: 1,796 square feet
Bend: 1,995 square feet
Medford: 1,853 square feet

Source: https://fred.stlouisfed.org/

Oregon State Taxes

Oregon has a state income tax with rates ranging from 4.75% to 9.90%.
The average effective property tax rate in Oregon is about 0.78% of a home’s assessed value, below the national average.
Oregon does not levy a general sales tax, giving residents one of the nation’s few sales‑tax‑free states.

More about this program

FHA loan covers 96.5% of the purchase price
Second lien covers 3.5% or 5% for down payment or closing costs
Minimum credit score: 600 (660 for manual underwriting)
No first-time buyer requirement
No max DTI with DU/LP approval
Homebuyer education required (Fannie Mae HomeView – free online)
Non-occupant co-borrowers allowed
Eligible properties: Single-family homes, duplexes (2 units), PUDs, condos (agency approved), townhomes, manufactured homes allowed (except single-wides)

More about this program

30-year fixed-rate conventional mortgage
Second lien offers up to 4% for down payment assistance
Max LTV/CLTV: 97% / 105%
Income limit: Up to 140% of area median income (AMI)
Minimum credit score: 660
DTI: Lesser of 50% or AUS approval
First lien acquired by Lakeview; second lien from an approved DPA provider
Eligible properties: Single-family detached or attached homes, single-family homes with accessory units (must be zoned single-family), PUDs and condominiums, rural properties (must be residential in nature)

How Much Should I Budget for Closing Costs in Oregon?

Oregon home buyers typically spend 2% to 5% of the home’s purchase price on closing costs. On a $350,000 home, plan to budget roughly $7,000 to $17,500.

You will receive your estimated closing costs from your Home Loan Specialist in a Loan Estimate after you apply for your home loan, and final closing costs in your Closing Disclosure document provided before your official closing day.

What Are the Most Popular Home Loan Types in Oregon?

Home buyers in Oregon have access to a variety of mortgage options tailored to different financial situations and homeownership goals. The most commonly utilized loan types include:

Conventional Loans – Fixed‑rate mortgages ideal for buyers with strong credit and at least 3–5% down.
FHA Loans – Backed by the Federal Housing Administration; require just 3.5% down and flexible credit guidelines.
VA Loans – No‑down‑payment options for eligible veterans, active‑duty service members, and select spouses.
USDA Loans – 100% financing for qualified buyers in rural areas, with income and location limits.

How Can I Find a Trusted Local Oregon Realtor to Work With?

Churchill Mortgage's experienced Home Loan Specialists work closely with a network of trusted, local real estate agents across the state of Oregon. Just ask for a referral and we'll provide you with a professional who is committed to finding the right home for you.

How Do Schools Rank in Oregon?

Oregon offers a mix of standout public school districts and high-achieving schools, particularly in the Portland metro and select regions statewide.

Lake Oswego School District – Ranked #1 in the state, boasting a 95%+ graduation rate, strong STEM, arts, and AP/IB programs.
West Linn–Wilsonville School District – Top-ranked for personalized learning, tech integration, and high college acceptance rates.
Beaverton School District – One of Oregon's largest, with strong academic achievement, dual-language programs, and diverse student support services.
Sherwood School District – Known for high test scores, active community involvement, and robust STEAM offerings.
Corvallis School District – Offers excellent environmental education, gifted programs, and arts opportunities partnered with Oregon State University.

These districts consistently earn A+ grades and serve as benchmarks for Oregon’s overall educational quality.

For school-specific ratings, graduation data, and test scores, view the Oregon School Report Cards from the Oregon Department of Education.

★ ★ ★ ★ ★

Katy and her team went above and beyond for my husband and I. They were very responsive and patient with all of our questions. They also ensured our close date happened as quick as possible and delivered! I am so grateful for the experience we had with Katy and her team."

Kathryn K.
Salem, OR

★ ★ ★ ★ ★

"Lora and her team answered all my questions. Fast response and very down-to-earth people that want to help everyone out with their home buying needs."

Douglas H.
Clatskanie, OR

★ ★ ★ ★ ★

"I felt like we had excellent communication and support from the team. They were patient and when I actually got my part of the work done everything was super smooth and the team was so kind and understanding. They did an excellent job."

Stephanie W.
Central Point, OR

Salem, OR

(503) 334-1073

Visit the Branch Website

1840 W Nob Hill Street SE, Salem OR

Portland, OR

(503) 906-1671

Visit the Branch Website

3544 SW Kanan Dr, Portland, Oregon 97221

Pendleton, OR

541-304-2088

Visit the Branch Website

Pendleton, OR

Lake Oswego, OR

Visit the Branch Website

10260 SW Greenburg Road, Suite 400, Office 470 Portland, Oregon 97223

Lincoln City, OR

(541) 991-4263

Visit the Branch Website

2840 NE Highway 101, Lincoln City, OR

Bend, OR

541-279-2477

Visit the Branch Website

130 SW Century Dr, Ste 110, Bend, OR

Astoria, OR

541-680-0260

Visit the Branch Website

Astoria, OR

Conforming and high balance allowed. Cooperative housing not eligible. Not all applicants will qualify. Not a commitment to lend. Other restriction or limitations to any program may apply.

This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates that are based on information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. All financial calculators are provided by a third-party and are not controlled by or under the control of Churchill Mortgage. Churchill Mortgage is not responsible for the content, results, or the accuracy of information.

These calculations are hypothetical examples designed to for illustration purposes only. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.

Sources:
https://www.attomdata.com/data/us-real-estate/wa/

As a responsible lender, Churchill Mortgage is committed to the principles outlined in federal and state lending laws ensuring all potential borrowers have access to the same information, services, and opportunities throughout the home loan process.

Key Takeaways for Oregon Home Buyers:

Average Home Prices in Oregon

Average Home Size in Oregon

Oregon State Taxes

How Much Can You Afford in Oregon?

Oregon Down Payment Assistance Programs

Essex + National Homebuyers Fund FHA Program

Lakeview National Community Lending Program

What do you qualify for?

Frequently Asked Questions

Reviews from Oregon Home Buyers

Oregon Branch Locations

Salem, OR

Portland, OR

Pendleton, OR

Lake Oswego, OR

Lincoln City, OR

Bend, OR

Astoria, OR

Churchill Loan Officers in Oregon