Oregon Refinance Rates & Programs 2026

Oregon homeowners benefit from strong appreciation and moderate refinancing costs. From Portland to Eugene and the coast, here's what you need to know about refinancing in the Beaver State.

Current Oregon Refinance Rates

| Loan Type | Average Rate | |-----------|--------------| | 30-Year Fixed | 6.22% | | 15-Year Fixed | 5.54% | | FHA 30-Year | 6.17% | | VA 30-Year | 5.50% |

Portland metro may see slightly lower rates. Use our refinance calculator.

Oregon-Specific Programs

Oregon Housing and Community Services (OHCS)

• Down payment assistance programs
• If you used OHCS assistance, check subordination before refinancing
• Mortgage Credit Certificates available

USDA Refinancing

Rural Oregon counties qualify for USDA loans outside Portland, Eugene, Salem, and Bend.

High-Cost Counties

Some Oregon counties have higher conforming limits due to expensive real estate.

Cost of Refinancing

Moderate costs:

| Cost Item | Typical Amount | |-----------|---------------| | Origination | $0 - $2,200 | | Appraisal | $500 - $700 | | Title | $800 - $1,300 | | Recording | $50 - $100 | | Total | $4,000 - $7,000 |

No state mortgage tax.

When to Refinance

Refinance if rates dropped 0.75%-1.0%, eliminate PMI, or consolidate debt. See cash-out guide.

FAQ

How long? 30-40 days. Property taxes change? No. Credit score? 580 FHA, 620 conv, 740+ best. Keep OHCS MCC? Yes, with participating lender.

Bottom Line

Oregon's moderate costs make refinancing attractive when rates drop 0.75%+.

Get quote: See rates.

---

Author: Bill McCoy, 15 years experience.