Oregon Community Bank

Hours & Location

608-835-3168

Mortgage Programs

Secondary Market Long Term-Fixed Rate (Conventional)

The secondary market allows OCB to underwrite, close and service your loan locally — keeping the decisions right here at OCB.

  • Interest rate won’t change
  • Easily predict monthly expense
  • Great for first-time homeowners who plan to keep their home for a long time
  • Protect your loan from inflation — your mortgage payment stays the same

Contact our Mortgage Lending Department for specific terms.

Jumbo Fixed Rate

A jumbo mortgage is a loan in excess of $417,000.

  • One mortgage payment rather than two loans (payments) at a competitive interest rate
  • The ability to finance short term second mortgages into long term first lien mortgages
  • One closing fee
  • Ability to lend up to $1,500,000

Contact our Mortgage Lending Department for specific terms.

5-year, 7-year or 10-year Adjustable Rate Mortgages (ARM)

These loans can offer lower initial rates and different time frames before interest rates are adjusted. This can be a great option for those whose needs or financial situation are likely to change in the near term.

  • Variety of extended repayment plans
  • Usually lower beginning rates
  • Yearly and lifetime interest rate caps
  • Rate change tied to market rate index
  • No prepayment penalty

Contact our Mortgage Lending Department for specific terms.

 

USDA Rural Housing

The USDA and OCB provides low and moderate income households the opportunity to own a primary residence in eligible rural areas with no money down. Eligible applicants may build, rehabilitate, improve or relocate to a dwelling in an eligible rural area. Contact us regarding eligibility.

  • No down payment (Specific guidelines apply)
  • Ability to finance the USDA fee and bank closing costs into the loan (Specific guidelines apply)

Contact our Mortgage Lending Department for specific terms. Check eligible addresses for the loan guarantees.

WHEDA

Whether for first-time or repeat home buyers, WHEDA offers unique, flexible low-cost mortgage loans. For many, comparing a 30-year fixed interest rate WHEDA loan to other mortgages on the market makes the choice an easy one.

  • No Private Mortgage Insurance (PMI) option with a higher interest rate, often resulting in a lower monthly payment
  • No money down option for single family homes
  • Allowed to use a gift from family members for down payments
  • Use regional down payment assistance programs to help with down payments
  • Wisconsin property and serviced in Wisconsin

Contact our Mortgage Lending Department for specific terms.

In-House Loans

These mortgage products allow OCB the flexibility to determine the common sense of a mortgage application. In situations when a loan does not fit in a secondary market loan or a specialty loan, OCB can successfully underwrite and close the loan from our own portfolio.

Contact our Mortgage Lending Department for specific terms.

 

Lot Loans

OCB offers qualified buyers residential lot loans tailored to meet the financing requirements to purchase a specific lot for future construction.

Contact our Mortgage Lending Department for specific terms.

Construction Loans

Construction loans for newly built homes are either obtained by the homebuilder or prospective owner. Construction loans are typically short term and have a fixed rate. To gain approval, OCB will need to see a construction timetable, detailed plans and a realistic budget — sometimes called the "story" behind the loan.

Contact our Mortgage Lending Department for specific terms.