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Oregon

Welcome to Oregon

Welcome to Oregon, where lush forests, rugged coastlines, and vibrant communities converge to create a unique and inviting environment. Known for its rich natural beauty and progressive culture, Oregon offers a balanced blend of outdoor adventure and urban sophistication. From Portland's thriving arts and culinary scene to the serene vineyards of the Willamette Valley, there’s something for everyone in the Beaver State.

Oregon’s economy is powered by industries like technology, agriculture, and manufacturing, while its veteran-friendly policies make it an attractive destination for those who have served. With comprehensive benefits, supportive communities, and a strong appreciation for military families, Oregon stands out as a great place for veterans to call home. Whether you're settling in Portland, Eugene, or along the Oregon Coast, Military Home Spot Lending is here to help you every step of the way.

Major Cities in Oregon

Oregon’s largest cities offer diverse lifestyles, from bustling metropolitan areas to quiet, nature-surrounded towns. Whether you're interested in the tech-driven environment of Portland, the artistic vibe of Eugene, or the scenic backdrop of Bend, Oregon's cities cater to every lifestyle.

Veteran Benefits in Oregon

Oregon offers a comprehensive set of benefits to veterans, recognizing their service and sacrifice. These benefits extend to housing, education, employment, healthcare, and recreation, ensuring veterans and their families are supported throughout their lives.

  • Oregon Veterans Homes
    Oregon operates two veterans homes in The Dalles and Lebanon, welcoming veterans with any discharge other than dishonorable, their spouses, and Gold Star parents, provided they need skilled nursing care and can contribute to the cost.
  • Oregon Veterans Home Loan
    The state offers an exclusive home loan program for veterans, providing fixed-rate financing for owner-occupied, single-family residences, with a lifetime limit of up to four loans.
  • Oregon Veteran Financial Benefits
    Active-duty pay earned outside Oregon and up to $6,000 earned within the state is tax-exempt. Veterans with service before Oct. 1, 1991, may qualify for additional retirement pay deductions, while others are taxed normally. Emergency financial assistance is available for veterans facing valid emergencies, with one-time direct payments to creditors.
  • Oregon Property Tax Exemption
    Veterans with a VA disability rating of 40% or more may be eligible for a property tax exemption in Oregon.
  • Oregon State Veterans Employment Preference
    Veterans taking state employment tests receive a 5-point score increase, while disabled veterans receive 10 points.
  • Disabled Veteran License Plate
    Veterans with any VA-rated disability qualify for a Disabled Veteran license plate, offering benefits including emission inspection exemptions.
  • Oregon Education Benefits
    The ONGSTA program provides full tuition funding for eligible National Guard members at state institutions.
  • Oregon Veterans Recreational Benefits
    Disabled veterans with a 25% or more disability rating can obtain free hunting and fishing licenses, and all veterans enjoy free parking and camping at state parks under specific conditions.
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Oregon's Military Presence

Oregon plays a vital role in supporting national defense through its military installations and National Guard facilities. These installations contribute to local economies and provide critical training, logistics, and operational support. Oregon’s military community strengthens both domestic and overseas operations, ensuring readiness and security.

  • Kingsley Field Air National Guard Base (Klamath Falls): Home to the 173rd Fighter Wing, Kingsley Field provides training for F-15 pilots and supports air defense operations along the West Coast.
  • Camp Rilea (Warrenton): This National Guard training facility serves as a major location for tactical training, disaster response drills, and joint exercises with federal and local agencies.
  • Portland Air National Guard Base (Portland): A key operational hub for the 142nd Wing, responsible for homeland defense and aerospace control missions.
  • Umatilla Chemical Depot (Hermiston): Although decommissioned, this site remains significant in military history and is used for reserve training and other defense-related functions.
  • Naval Weapons Systems Training Facility (Boardman): This facility supports the Navy and other military branches in weapons testing, drone operations, and communications research.

VA Loans in Oregon

VA Home Loan Volume in 2024 in Oregon*

Total Loans

4,181

Average Loan Amount

$422,204

Total Loan Amount (ALL)

$1,765,234,308

Total Purchase Loans

2,806

Total Purchase Loans %

67.11%

Total IRRRL Loans

566

Total IRRRL Loans %

13.54%

Total Cash-Out Loans

809

Total Cash-Out Loans %

19.35%

*Data pulled from the Department of Veterans Affairs.

Oregon VA Loan Requirements

VA loan requirements in Oregon align with national standards. Veterans, active-duty service members, and eligible surviving spouses may qualify if they meet service criteria and general lending requirements.

To qualify for a VA loan in Oregon, you generally need to meet one of the following:

  • 90 days of active service during wartime
  • 181 continuous days of active service during peacetime
  • 6 years of service in the National Guard or Reserves
  • Unremarried surviving spouse of a servicemember who died in the line of duty or from a service-related disability

In addition to service eligibility, general VA loan requirements include:

  • Funding Fee: A one-time fee based on the down payment, loan type, and military category. Some veterans are exempt from this fee.
  • Occupancy Requirement: Borrowers must occupy the home as their primary residence within 60 days of closing.
  • Primary Residence Use: VA loans cannot be used for second homes or investment properties.

Oregon also follows national property standards for VA loans, ensuring homes are safe, sanitary, and structurally sound.

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Oregon VA Loan Limits

As of 2024, VA loans in Oregon are not limited by county loan limits for veterans with full entitlement. Veterans with remaining entitlement may face loan limits tied to conforming loan maximums. Most counties adhere to the standard VA loan limit of $766,550.

For areas with higher housing costs, loan limits may exceed this amount. Veterans with full entitlement can borrow without a down payment, regardless of loan size, as long as they qualify with the lender.

VA Loan Entitlement in Oregon

Entitlement represents the VA’s guarantee to cover part of the loan if the borrower defaults. There are two types:

  • Full Entitlement: No loan limit as long as the lender approves the loan.
  • Remaining Entitlement: Veterans with active VA loans or partial entitlement must stay within county loan limits unless making a down payment.

VA Loan Rates in Oregon

Mortgage rates for VA loans vary depending on economic conditions, lender policies, and borrower credit profiles. VA loans typically offer lower interest rates than conventional loans due to the VA’s backing.

Types of VA Mortgage Programs in Oregon

  • VA Purchase Loan: A fixed or adjustable-rate mortgage with no down payment required for qualified borrowers.
  • VA Cash-Out Refinance Loan: Allows veterans to refinance and tap into home equity, refinancing up to 100% of their home’s value.
  • VA Streamline Refinance Loan (IRRRL): A low-cost refinance option for lowering interest rates on existing VA loans.

How to Get a VA Loan in Oregon

Getting a VA loan in Oregon involves several key steps:

  1. Obtain a Certificate of Eligibility (COE): This confirms you meet service requirements for the VA loan.
  2. Find a VA-approved Lender: Work with lenders specializing in VA loans to secure financing.
  3. Select a Property: Ensure the home meets VA appraisal standards and requirements.
  4. Complete the Loan Process: Submit necessary documents, undergo a VA appraisal, and finalize the loan with your lender.

Once approved, you’ll be ready to close and move into your new home with the benefits of a VA loan.

Real Estate in Oregon

Oregon's real estate market offers a mix of urban living, suburban comfort, and rural retreats, catering to a variety of lifestyles. Cities like Portland and Eugene provide vibrant metropolitan options, while smaller towns such as Bend and Medford offer scenic views and community living. With a thriving job market and a focus on sustainability, Oregon continues to attract homebuyers seeking diverse housing opportunities. Veterans in Oregon benefit from tax exemptions and exclusive home loan programs, making homeownership more attainable.

Median Sale Price of Homes in Oregon*

Portland

$509,000

Eugene

$510,000

Salem

$425,000

Gresham

$485,950

Hillsboro

$520,000

Bend

$658,990

Beaverton

$517,495

Oregon Statewide Average

$502,900

*Data sourced from Redfin (January 2025)

Frequently Asked Questions

Find answers to common questions about Military Home Spot Lending and our services. Can't find what your need? Get in touch with us.

What is a VA Loan, and who can get one?

A VA Loan is a mortgage designed for veterans, active-duty service members, and some surviving spouses. The VA has certain service requirements to qualify. Want to check if you’re eligible? Click here to find out.

How do I get started with a VA Loan?

It’s easier than you might think! First, you’ll need your Certificate of Eligibility (COE), and then you can connect with a VA-approved lender like us. We’ll guide you through the rest. Get started here.

Why should I choose a VA Loan over a regular loan?

VA Loans come with some pretty awesome perks—think no down payment, no private mortgage insurance (PMI), and competitive rates. Plus, they’re more flexible with credit requirements. Want to learn more? Click here.

Can you help me with the VA Loan in Oregon?

Absolutely, we serve veterans throughout Oregon and are very knowledgeable about VA Loans in the state. You can connect with us online or speak directly with one of our loan officers. To get started, visit our application page.

Are there any extra costs with a VA Loan?

There might be a funding fee and some closing costs, but these can often be negotiated. We’re here to help you understand what to expect. Get the details here.

How much can I borrow with a VA Loan?

The amount you can borrow depends on where you live since loan limits vary by county. Curious about how much you might qualify for? Learn more here.

What if my credit isn’t perfect? Can I still get a VA Loan?

Yes, you can! VA Loans are known for being more forgiving with credit scores, though a lower score might mean a higher interest rate. Want to know how you can still qualify? Find out more here.

What are the occupancy rules for a VA Loan?

You’ll need to live in the home as your primary residence, and typically, you have to move in within 60 days of closing. Need more info on this? Click here.