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Mortgage and HELOC in Salem, Oregon

Home Loans in Salem That Make Sense for Your Life

Flexible options. Friendly experts. Local service you can count on. 

Homeownership is a big step, and we’re here to make it easier. At Valley Credit Union, you’ll get personalized support and competitive mortgage rates from people who live and work right here in the Salem community.

Apply online today and take the first step toward your new home.

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Why Choose a Valley Home Loan? 

We’re a local credit union, not a big bank. That means you come first. Our home loan process is designed to be clear and simple, and you can expect personalized support from day one. We partner with Centennial Lending to bring you a wide range of mortgage options, fast approvals, and experienced guidance.

  • Competitive rates and flexible terms
  • Friendly, down-to-earth service
  • Apply entirely online, no need to visit a branch
  • A team that's here to answer your questions every step of the way

Whether you’re buying in Salem, refinancing your current home, or expanding your investment portfolio, we’re ready to help.

Explore Our Home Loan Options

In partnership with Centennial Lending, we offer a full range of loan types. Take a look at our loan options below. If you’re not sure what’s right for you, just reach out. We’ll walk you through your options and help you choose the mortgage loan that’s the best fit.

Fixed-Rate Loans

Need consistency? Lock in a steady monthly mortgage payment for the life of your loan. Great for budgeting and peace of mind.

Adjustable Rate Loans

Start with a lower mortgage interest rate that may adjust over time based on market trends.

FHA Loans

FHA (Federal Housing Administration) loans let you buy a home with as little as 3.5% down and include mortgage insurance. A great option for first-time homebuyers or those with limited credit.

VA Home Loans

Specialized home loans in Salem with no down payment for eligible veterans and spouses, backed by the Department of Veterans Affairs.

Interest-Only Loans

This loan is designed so you pay just the interest for a fixed term, typically 5-7 years. When the term is up, you can choose to refinance or make a lump sum payment.

Investment Property

Build your real estate portfolio. Requires a minimum down payment of 20%, and having at least 2 years of property management experience will help you qualify.

Bridge Loans

This loan bridges the gap during a transitory period in your life. Borrowers tend to apply for this loan when they are selling and buying a house.

Balloon Loans

This loan will not be fully paid off over its typical 5-7 year term. Once the loan term is up, refinancing or repayment is often needed. 

Jumbo Loans

Used to finance properties when the loan amount exceeds federal loan limits.

Helpful Tools to Plan Your Next Move

We're here to help you make smart decisions. These tools and resources from Centennial Lending can guide you through the numbers and mortgage rate updates:

Home Equity Loans

Learn More About Our Home Equity Loans

Already own your home? Use a Home Equity Line of Credit (HELOC) to pay off debts, make home improvements, pay for college tuition, or to take that dream vacation!

  • Rate discount with Valley checking auto-pay
  • Variable or fixed rate
  • Minimum payment of 1% of the outstanding balance monthly 
  • 10-year draw period with a 10-year repayment period
  • Loans up to 90% of the loan-to-value (LTV)
  • No pre-payment penalties
  • Low processing fee and annual fee

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*APR = Annual Percentage Rate. The interest rate a member pays is based on the member's credit worthiness, credit history, loan-to-value ratio and term of the loan. Loan terms may vary depending on amount borrowed and credit history. All rates are subject to change at any time. Membership requirements apply.