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Welcome to the learning center! This is your hub for anything you need to know about home financing. Whether you are a buyer, a realtor, searching for financial freedom, or simply wish to gain more knowledge regarding any applicable area, Options Financial Residential Mortgage is your go-to resource center. We will provide you with honest, accurate, useful answers which you can apply to your unique situation, allowing you to proceed confidently into your future.
Options Financial Residential Mortgage is committed to providing our clients with options that are tailored to meet their needs. We are here to support you in your efforts toward successfully owning real estate as a home, a vacation spot, or an investment.There are many loan options available, each one distinctive from the others. We invite you to click through the loan options that apply and appeal to your needs, or give us a call. We would love to aid you in strategically selecting your loan.
Click on the loan programs below to get a closer look.
The JUMBO Loan program is available for individuals to wish to receive a loan greater than $417,000.Learn more
Requires lower debt-to-income ratios
Requires higher credit scores
A variety of options regarding loan term and other variables
A Federal Housing Administration (FHA) Loan can be used to purchase and refinance a home. This type of loan is available with an adjustable rate or a fixed rate at 10, 15, 20, 25, or 30-year terms. Learn more
Down payment can be as little as 3.5%
Upfront and Annual Mortgage Insurance must be obtained
Highest cost of Mortgage Insurance when compared to all other loan types
To qualify for a Veterans Association (VA) Loan, you must be an eligible veteran or member of the armed services. VA Loans can be used for the purchase or refinance of a home.Learn more
Require no money down
Minimally impacted by credit issues
Mortgage insurance varies based on the borrower’s specific eligibility
A Conventional Loan can be used for purchasing or refinancing a home. This type of loan is available with an adjustable rate or a fixed rate. Learn more
Adjustable or fixed rate.
Low down payment
Purchase or refinance
Make home financing more accessible and improve the home purchasing experience. The HAP program is available only for eligible employees of participating companies. Learn more
$695 credit toward loan processing
Free credit report & analysis
Zero down financing options
A Reverse Mortgage is available to homeowners 62 years of age and older who wish to purchase or refinance a home. Learn more
Get a cash advance or a monthly disbursement
Outstanding principal owed will increase each year
No monthly mortgage payment
With a Renovation Loan, extra funding is allotted toward home improvement in addition to the initial amount of a purchase or refinance loan. You can use this loan for a home you want to buy and remodel. Learn more
Improve the interest rate compared to your prior loan
Higher interest rate
203k Loan options available
With a Construction Loan, you can acquire the funds you need to build a new house. This type of loan program generally comes with a higher interest rate. Learn more
New home construction
Construction only loans available
Construction to permanent available
An Oregon Bond is a loan program available to Oregon residents who wish to purchase a new home. This Conventional or FHA loan program has two advantageous options. Learn more
Guarantees payment of your loan on your behalf if you fail to repay
Subsidized by the state of Oregon
Reduce your transaction fees or receive a lower interest rate on your loan
Taking out a Second Mortgage allows you to access cash from the equity in your home. Second Mortgages are placed simultaneously. Learn more
Finance a home improvement or an educational advance
Interest paid on these loans may be tax-deductible
Very few lenders are offering Second Mortgages
A United States Department of Agriculture (USDA) Rural Development (RD) Loan can be used for the purchase of a home as well as refinancing an existing RD loan. Learn more
Fixed-rate term of either 15 or 30 years
Only available in specified low-density population areas
Restricts the borrower from owning another property
A Home Affordable Refinance Program (HARP) Loan is intended for the refinance of a home. For approval of this loan, the homeowner’s note must be owned by Freddie Mac or Fannie Mae. Learn more
Available even if you owe more on your house than it is worth
Refinance if your house is underwater
Must be current on the mortgage with a good payment history in the past year
Through the Chenoa Fund down payment assistance program, borrowers can receive an FHA first mortgage and combine it with either a forgivable or repayable second mortgage to cover the down payment. Learn more
Flexible credit score approvals (as low as 620)
No borrower investment required
No geographic restrictions
The GSFA Down Payment Asistance Program from Options Financial provides eligible borrowers with DPA in the form of a zero interest, no monthly payment Second Mortgage that is forgiven after three (3) years. Learn more
Available with a purchase or refinance of a primary residence
There are NO Income Limits for eligibility
Available with a purchase or refinance of a primary residence
If you can dream it, you can make it a reality. With our Dream Home Renovation program, you can buy the property that needs some renovation. Learn more
Create your dream home instead of buying someone else’s
The loan amount is based on future assessed value of home
Take advantage of properties in great locations that need renovation
Welcome to the 18-day Close with your offer backed by the purchasing power of a full loan approval. Learn more
Over 90% of owner-occupied homes qualify
First-time and move-up homebuyers are eligible
Single-family, condos, investment, second-homes
Lock your rate and secure peace of mind. With our SecureLock programs, you can lock in today’s competitive rates while you shop for a home, sell your home, or while your home is under construction. Learn more
Lock in your rate while you shop for a home
Lock in your rate while you sell your home
Lock in your rate while your home is under construction
A mortgage program dedicated to saving our selfless teachers and first responders a little money on their home loans. Learn more
Save up to $500 in reduced Lender Fees for qualified Teachers and First Responders
Can be combined with Down Payment Assistance which permits gift funds to be used for 100% of the home purchase down payment