Conventional & Jumbo Mortgages
Straightforward Financing for Your Next Home
Whether you're buying a starter home or a high-value property, Portage Bank offers conventional and jumbo mortgage options with competitive rates and flexible terms. Our experienced loan officers will help you find the right fit for your budget and timeline.
Equal Housing Lender - Member FDIC
NMLS #1831756
Conventional Mortgages
Conventional loans are one of the most popular mortgage options, and for good reason. They offer predictable payments, competitive interest rates, and a range of term options.
Conventional Loan Benefits
Competitive fixed and adjustable interest rates
Conventional conforming loans allow as low as 3% down (Fannie Mae HomeReady / Freddie Mac Home Possible) or 5% standard
Flexible term lengths, typically 10, 15, 20, or 30 years
No upfront mortgage insurance premium.
PMI can be requested for cancellation at 80% LTV and is automatically cancelled at 78% LTV under the Homeowners Protection Act.
Jumbo Mortgages
Get started today with your homebuying journey
Purchasing a higher-priced home? A jumbo mortgage covers loan amounts that exceed conventional conforming loan limits. Portage Bank offers jumbo loans with the same personalized service you'd expect on any loan.
Jumbo Loan Benefits
Finance higher-value properties with one loan
Competitive rates for well-qualified borrowers
Fixed and adjustable-rate options available
Experienced underwriting for complex financial situations*
*Note, as of 2026, current conforming loan limit for Washington State:Most counties: $832,750 for a single-family home.King, Pierce, and Snohomish counties (Seattle metro): $1,063,750Jumbo loans typically require a minimum 10–20% down payment and stronger credit and reserve qualifications. Contact a loan officer for current jumbo loan requirements.
Fixed vs. Adjustable Rates
Fixed-Rate Mortgage
Your interest rate stays the same for the life of the loan, ideal if you want predictable monthly payments and plan to stay in your home long-term.
Adjustable-Rate Mortgage (ARM)
Your rate is fixed for an initial period, then adjusts periodically. This can be a smart option if you plan to sell or refinance before the adjustment period begins.
Adjustable-rate mortgages are subject to rate increases after the initial fixed period. Payments may increase significantly based on market conditions. Ask your loan officer for a full payment example, including the maximum possible rate and payment for your specific loan scenario.
See What You Qualify For
Talk to a Portage loan officer to explore your conventional or jumbo mortgage options. We'll help you understand the numbers and find the best path forward.
Benefits of choosing Portage
Customization
We work with you to tailor loans to your specific needs and budget.
Ease
Our competitive rates, variety of options, and helpful approach make getting the right loan easy.
Relationships
We’re here to build a lasting partnership and find the best way to help you reach your goals.
Disclosures:
All loans subject to credit approval. Rates, terms, and conditions subject to change. [NMLS #1831756]You have the right to receive a copy of any appraisal used in connection with your loan application.All rates are subject to change without notice and depend on creditworthiness, loan amount, term, and other factors. Contact a loan officer for a personalized rate quote.We are committed to fair lending. We do not discriminate on the basis of race, color, religion, national origin, sex, familial status, disability, age, or any other characteristic protected by law.Loan officers are licensed by the Washington State Department of Financial Institutions. Visit nmlsconsumeraccess.org.