Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Oregon

Oregon Mortgage Calculator

Set to Oregon’s own property tax rate of 0.78% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($99,600)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$3,008
Monthly payment
$2,539
Principal & interest
$324
Taxes
$145
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $398,400 Interest paid $515,696
20262056
Total of 360 payments$1,082,906
Principal$398,400
Interest$515,696
Taxes$116,520
Insurance$52,290
HOA fees$0
P&I 84.4% Taxes 10.8% Insurance 4.8%
15- vs 30-year term at 6.58%
15-year
$3,488/mo P&I
$229,447 total interest
30-year · current
$2,539/mo P&I
$515,696 total interest
The 15-year term saves $286,250 in interest. Which term is right for you?

What these numbers come from

Median home value
$497,500
Median tax bill
$3,895
Effective tax rate
0.78%
Rank of 51
25th highest

Oregon taxes property at about 0.78% of value against 0.89% nationally. On a $498,000 home that is $46 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Oregon home prices

20% down, 30-year fixed at 6.58%, with Oregon property tax of 0.78% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$299,000 $239,200 $1,525 $194 $1,806
$398,000 $318,400 $2,029 $259 $2,404
$498,000 median $398,400 $2,539 $324 $3,008
$622,000 $497,600 $3,171 $404 $3,757
$746,000 $596,800 $3,804 $485 $4,506

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Oregon taxes alone add $324 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $355 $2,185 $469 $398,045
Sep $357 $2,183 $469 $397,689
Oct $358 $2,181 $469 $397,330
Nov $360 $2,179 $469 $396,970
Dec $362 $2,177 $469 $396,607
2026 $1,793 $10,903 $2,345 $396,607
Jan $364 $2,175 $469 $396,243
Feb $366 $2,173 $469 $395,877
Mar $368 $2,171 $469 $395,508
Apr $370 $2,169 $469 $395,138
May $372 $2,167 $469 $394,765
Jun $375 $2,165 $469 $394,391

Refinancing in Oregon

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Oregon home loans in detail

Oregon Mortgage Overview

Oregon has become more popular in recent years with a 10 percent increase in population from 2019-2020. As of the latest census tract, 4.2 million people are living in Oregon and the average home price is around $510,000.

Oregon has plenty of home loan options, especially for first-time homebuyers. Here are your basic loan options.

Oregon conventional loans

Good credit borrowers with at least a 660 credit score, may get a conventional loan. Conventional loans require first-time homebuyers to put down 3 percent down and subsequent buyers 5 percent down. Borrowers should have around a 36 percent debt ratio. Borrowers pay mortgage insurance just until they owe less than 80 percent of the home's value.

Oregon FHA loans

Borrowers with average or worse than average credit may qualify for an FHA loan. You need just a 580 credit score and 3.5 percent down. Your down payment can be gift funds or down payment assistance. The FHA allows lower credit scores too but with a 10 percent down payment. At least 3.5 percent of the down payment must be your own funds.

Oregon VA loans

Veterans of the military or current members may secure 100 financing from a VA loan from an Oregon VA lender. You need a 620 credit score proof of income that shows you can afford the loan and daily cost of living costs. VA loans have disposable income requirements that vary by county. VA loans don't have mortgage insurance requirements, but there is an upfront funding fee.

Oregon USDA loans

If rural living is up your alley, check out the USDA loan. If your household income is less than 115 percent of the median income for your area, and you have a 640 credit score, you may qualify. USDA loans have low interest rates and closing costs. You'll pay mortgage insurance for the life of the loan, but the rates are low, and you don't need a down payment, so it offsets the costs.

First-Time Homebuyer

Programs in Oregon

Oregon Bond Residential Loan

Program

The Oregon Bond Residential Loan Program has two options:

Cash Advantage

You'll receive 3% of your loan amount for closing costs. You must still contribute 3.5 percent for the FHA down payment, but the assistance pays your closing costs.

Rate Advantage

You pay the closing costs but secure a lower interest rate allowing you to maximize savings over the life of the loan

Down Payment Assistance

You may secure up to $15,000 in down payment assistance. You must live in specific counties and meet that county's requirements to qualify.

Oregon mortgage FAQ

How much is property tax on a home in Oregon?
Oregon homeowners pay an effective property tax rate of about 0.78 percent of home value — the 25th highest of the 50 states and DC. On the state's median home value of $497,500 that works out to roughly $3,884 a year, or $324 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Oregon home?
At $498,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $2,539 a month. Adding Oregon property tax of roughly $324 a month and an estimated $145 of homeowner insurance brings the full payment to around $3,008.
Which home loan types can Oregon buyers use?
Oregon offers conventional loans with a 660 credit score and 3 to 5 percent down, FHA loans with a 580 score and 3.5 percent down (or 10 percent down with lower scores), VA loans with 100 percent financing for veterans with a 620 score, and USDA loans with no down payment for rural buyers earning under 115 percent of the area median income.
What first-time homebuyer help does Oregon provide?
The Oregon Bond Residential Loan Program has two options: Cash Advantage, which pays 3 percent of your loan amount toward closing costs, and Rate Advantage, which trades closing cost help for a lower interest rate over the life of the loan. Separate down payment assistance is also available in specific counties for buyers who meet each county's requirements.
What credit score do you need for a mortgage in Oregon?
It depends on the loan. Conventional loans in Oregon generally require at least a 660 credit score, FHA loans accept a 580 score with 3.5 percent down or lower scores with 10 percent down, VA loans look for a 620 score, and USDA loans need a 640 score plus household income under 115 percent of the area median.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.