Are You Ready to Become a Homeowner?

Let the Rivermark First-Time Buyer Program Guide You

Are You Ready for Home Ownership?

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First-Time Buyer Options

We understand the home-buying process can be confusing. That's why Rivermark has experienced Mortgage Officers to guide you through the process. We can make the path to ownership easier with loans that eliminate the need for a big down payment and hold down other costs.

100% Combo Loan

100% financing (80/20 Loan)*
Fixed and Adjustable Rate options
No private mortgage insurance required

3% Down First Time Buyer

Down payments as low as 3% to purchase a new home
Fixed and Adjustable Rate Options**

Your rate is not locked until you get confirmation from a Mortgage Loan Officer. We look forward to serving you.

Apply Online Get an Estimate Mortgage Calculator

For faster service, start your application online. A Rivermark mortgage professional can get you pre-approved quickly. A pre-approval shows realtors that you are a serious buyer and can help to speed up the transaction when you’re ready to buy. Call us at 503.906.9497.

Online Course: Homebuying 101

Thinking about buying a home? That’s exciting! Buying a home involves some major decisions; it is a process that can be both exciting and a bit intimidating. This kind of decision comes with lots of planning. There are a few steps to consider before hiring a realtor and excitingly searching all over town.

Start Course

Joel Jenkins Work: 503-906-9468 Email: [email protected]
Sunny Freestone Work: 503-906-9397 Email: [email protected]
Josh Ruiz Work: 503-360-7399 Email: [email protected]

Fixed Rate
A fixed-rate mortgage allows you to know your exact rate and monthly payment throughout the entire loan term. We offer fixed rate mortgages with 10, 15, 20, or 30 year terms. View Rates.

Adjustable Rate Mortgage (ARM)
ARMs allow you to start with a lower rate than fixed-rate loans, but the rate can adjust up or down periodically. Rivermark ARMs start with introductory terms of 5, 7 or 10 years. View Rates.

Jumbo
Jumbo loans are available for when your dream home requires a loan amount exceeding

$766,550

. Available as an adjustable rate mortgage. View Rates.

First Time Buyer
We offer special options for first time buyers to help make home ownership a reality. Down payments as low as 3% to purchase a new home. View Rates.

Home Equity
Borrow a predetermined amount to use as you wish using the equity in your home. The loan is repaid on a fixed, monthly schedule. View Rates.

Home Equity Line of Credit (HELOC)
A HELOC is a revolving line of credit that gives you access to cash when you need it. Instead of borrowing a set amount all at once, you have flexibility to borrow as you go. View Rates.

We make it easy to get the financing you need.

Purchasing a home is one of the largest financial decisions you’ll make, and our Mortgage Loan Officers are here to help you along every step of the way. Below is a high-level overview of the process:

Step 1: Get Pre-Approved

Submit your home loan application online or in a branch.
Rivermark may request supporting documentation, like pay stubs.
Your Mortgage Loan Officer will contact you with the amount for which you’ve been pre-approved.

Step 2: Shop for Your Home

You can shop with confidence knowing you’ve been pre-approved for a price range that is right for you.
When you find the right home and have negotiated the sales price, you send the signed agreement to your Mortgage Loan Officer to start the process.
You can lock in your interest rate now that you know the loan amount, term and date of closing.
The loan documentation and authorizations are completed, and your Mortgage Loan Officer will order the appraisal.
Appraisals may take 2-3 weeks to be completed. While you wait, your loan application is submitted to underwriting.

Step 3: Final Approval and Closing

Once the appraisal is completed, your loan is ready for final approval by Rivermark.
A copy of the appraisal will be sent to you via email or mail.
Rivermark will send out the final Closing Disclosure for you to review.
The closing documents are then sent to the Escrow officer to arrange the appointment.
On the date of your signing you will sign all of the documents at the title company and deliver the final amount due for closing.
Normally within 24 hours (next day) the loan is funded by Rivermark, the deed is recorded and you are now the owner of a new home and the keys are yours.

Click here for a printable checklist.

How do I get pre-approved for a home loan?

Start with a call to one of our Mortgage Team members. They will help you select the product that’s right for you and get you started with the pre approval process. If you prefer, you may apply online and a Mortgage Loan Officer will reach out to you directly. Upon approval, you will receive a pre-approval letter.

What is the difference between the interest rate and the APR (Annual Percentage Rate)?

The interest rate is used to calculate your mortgage payment. The APR is a broader measure of the cost of your mortgage and includes finance charges that apply to your mortgage. An APR is an effective tool to make apples-to-apples comparisons of mortgage options.

Click here for our full list of frequently asked home loan questions.

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Helpful Information

A couple sitting on the floor surrounded by boxes.

Buying Your First Home

There comes a time when you want to settle down and have a place you can call your own. First, you'll want to familiarize yourself with the costs and the process.

Fixed Rate vs Adjustable Rate

Should you get a fixed rate or an adjustable rate mortgage loan? Here's what you need to know about each of these rate options.

Renting vs Buying a Home

Find what works for your lifestyle and budgetary needs. It's always wise to crunch the numbers before you become a homeowner.

*Available for primary residence purchases only up to 100% LTV. Applicants must meet credit and ability to repay requirements. Annual Percentage Rates (APR) effective as of the date of our latest rate update here. This is an 80/20 mortgage loan. Example is based on a $230,000 purchase price. A first mortgage (5/6 ARM) of $184,000 at 7.375% with an APR of 7.526% has principal and interest payments of $1,270.84 for 60 months. The example APR includes an origination fee of $1,299 and Points. Origination Fees vary based on loan amount, between $250 - $1,299. Actual APRs for individual loans may differ. Adjusts no more than 2% annually after 60 months. Rate increases are limited to a maximum of 6% over the initial rate during the lifetime of the loan. A second mortgage of $46,000 borrowed at 8.490% with an APR of 8.490% will have principal and interest payments of $398.91 for 240 months. Tax and insurance payments not included in examples. Property hazard insurance is required. 3% seller concessions allowed with 2 months PITI reserves. 0% seller concessions without 2 months reserves. No gift funds allowed towards closing costs. Escrow account required for taxes and insurance. Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Adjustable Rate Mortgage (ARM) interest rates and payments are subject to change during the loan term. That change can increase or decrease your monthly payment. Consult a tax adviser for information regarding the deductibility of interest and charges. Must be a member to borrow. **All loan applications are subject to credit and property approval. Annual Percentage Rate (APR) effective as the date shown on our rate page. Sample monthly payments are based upon a single-family owner-occupied residence with a loan amount of $160,000, 70% Loan-to-Value, Origination Fee of $800, Points, and standard 3rd party charges (e.g. appraisal and title). Origination Fees vary based on loan amount, between $250 - $1,299. Assumes no other loans or liens on subject property. Primary borrower having an open Rivermark checking account and debit card at time of closing will receive $300 off the origination fee. Actual APRs for individual loans may differ due to market conditions, individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Maximum APR is 8.00%. Must be a member to borrow.

Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials.

HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website. (www.consumerfinance.gov/hmda).