Umpqua Bank

Umpqua Bank

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About Umpqua Bank

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Umpqua Bank (NMLS #401867) offers lending, banking and financial advisory services, and its mortgage department helps customers buy, build, remodel and refinance homes. Umpqua’s offerings include a variety of home loans as well as home equity lines of credit (HELOCs). The company has branches in California, Idaho, Nevada, Oregon and Washington.

    Pros & Cons


    • Multiple loan options available
    • Offers specialty programs, like physician loans
    • Mobile app


    • No online application
    • Limited availability

    Bottom Line

    Umpqua doesn’t offer online applications, so you'll probably have to visit one of its locations to apply and close. For those who are local, though, Umpqua has a good selection of programs and benefits.


    Umpqua Bank shares its current home purchase loan rates on its website. Rates change over time and depend on the qualifications of each borrower, but Umpqua’s average rates on home purchase loans have tended to be a bit higher than national averages since 2019.

    Umpqua offers both fixed-rate and adjustable-rate loans. If you get an adjustable-rate mortgage (ARM) from Umpqua with a low starting rate, note how long that rate will be locked in. Once it begins to adjust (usually after three to 10 years), your rate will increase or decrease on a set schedule based on the market at that time. You may initially save money with an ARM — but you can also end up paying more over the life of the loan.

    The current starting rates Umpqua shares on its website are for buyers with high credit (740 for conventional loans and 680 for FHA loans) and a 20% down payment (3.5% for FHA) — if you don’t fit these qualifications, expect higher rates.

    Umpqua Bank average home purchase rate vs. national average

    YearDifference from national average
    2021 +0.08%
    2020 +0.12%
    2019 +0.08%
    Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

    Application process

    To begin applying for a mortgage with Umpqua Bank, you’ll need to call a loan officer, submit your contact info online or visit one of its branches. Once you start the application process with a loan officer, you’ll be able to work through each step with their help.

    Most of this process will need to be done in person at one of its 200+ locations, although you may be able to email some of your information or provide it over the phone.

    Umpqua Bank application features

    Online application X
    Mobile document upload X
    Physical branches 5 states
    Publishes minimum rate on website
    Rate lock Undisclosed
    Pre-qualification (no hard credit pull) Undisclosed
    Certified approval letter Undisclosed

    Loan types

    Umpqua offers conventional mortgages (conforming and jumbo) and government-backed mortgages, including FHA, VA and USDA loans.

    Its specialty loans include construction and renovation loans, mortgages for vacation homes and investment properties, and physician loans. To understand the terms for each product, you’ll need to talk with a loan officer.

    Since 2019, Umpqua has maintained a denial rate of around 3.5% for home purchase loans, which is pretty low compared to the rest of the industry.

    Loan applications for home purchases only by year

    Home purchase applications 10,182 10,769 10,448
    Home purchase loans closed 7,988 8,323 8,150
    Home purchase applications denied 343 411 369
    Home purchase preapprovals denied 0 0 0
    Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.


    Umpqua offers conventional loan refinancing, jumbo loan refinancing and VA loan refinancing. In 2021, just over 46% of the loans Umpqua closed were for refinancing (including cash-out refinances).

    In 2020 and 2021, refinancing got more popular overall as interest rates hit historic lows. If you’re able to capitalize on low rates, you may be able to save thousands of dollars throughout the life of your loan by refinancing. But, if rates aren’t significantly lower than your current APR (at least 1%), refinancing may not be worth the cost.

    Home purchase vs. refinance loans by year

    Home purchase loans 33.25% 32.72% 44.77%
    Refinance loans 30.38% 37.66% 21.46%
    Cash-out refinance 16.07% 15.80% 10.06%
    Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

    HELOC and home equity loans

    Home equity lines of credit let you use the equity you’ve built in your home to access cash. Umpqua HELOCs are available for $5,000 to $500,000 (based on your equity), with APRs starting at 6%. They come with 10-year draw periods and 20-year repayment periods.

    Umpqua does not charge any HELOC origination fees, and it pays standard closing costs on your behalf. However, you will pay a $75 annual fee.


    Umpqua doesn’t disclose its requirements for borrowers, but your loan officer can potentially help you understand your chances of approval based on your qualifications before the company does a hard credit pull.

    Common requirements for conventional loans include a minimum credit score of 620 and at least 3% down (most down payments are higher). You’ll also need a relatively low debt-to-income (DTI) ratio, usually around 36% or lower, and the ability to verify your income and provide tax returns. Together, these factors help lenders decide how much you can afford.

    We’ve compiled some general mortgage requirements below, but remember that Umpqua’s criteria may differ.

    National mortgage requirements by type

    Min. credit scoreMin. down paymentCompare with other lenders
    Conventional Typically 620 Typically 3% Mortgage lenders
    FHA 500 3.5% with 580 credit score FHA lenders
    VA Set by lender (often 580) 0% VA lenders
    USDA Set by lender (often 640) 0% USDA lenders

    Cost and fees

    You won’t find information on Umpqua’s mortgage costs and fees on its website. Instead, you’ll have to ask your loan officer for an estimate of your closing costs or apply and wait for your legally mandated Loan Estimate.

    On average, closing costs add up to somewhere between 2% and 5% of the total amount of your loan. In addition to mortgage fees (like appraisal, application and origination fees), you may also need to bring cash to closing to cover items like your down payment, private mortgage insurance premiums (if you put down less than 20%) and a year’s worth of homeowners insurance.

    Umpqua does have programs for first-time homebuyers and down payment assistance that may help cover some of these costs. Your loan officer can help you navigate these options.


    What is Umpqua Bank?

    Umpqua Bank claims to be the largest bank headquartered in the Pacific Northwest. It offers a wide array of financial solutions, including conventional mortgages, government loans and specialty products.

    Is Umpqua Bank legit?

    Umpqua Bank was founded in 1953. It currently has nearly $30 billion in assets and over 200 locations.

    In 2021, Umpqua Bank paid $1.8 million in a settlement with the Federal Deposit Insurance Corporation for engaging in unfair and deceptive practices through its subsidiary (Financial Pacific Leasing Inc.). Umpqua did not admit to or deny these violations as part of the settlement, and it voluntarily paid roughly $1.6 million to affected customers in restitution.

    Where is Umpqua Bank available?

    Umpqua Bank operates in:

    • Arizona
    • California
    • Colorado
    • Idaho
    • Nevada
    • Oregon
    • Washington

    However, its offices in Arizona and Colorado appear to be focused on commercial banking.

    Umpqua has consumer branch locations in California, Idaho, Nevada, Oregon and Washington.

    Umpqua Bank Reviews

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    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 9, 2020

    They've almost always been immediately accessible helping me with auto withdrawal mostly. The country is closing branches left and right. Hope Umpqua Bank branches are spared as they employ many young people. Thank you.

    Be the first one to find this review helpful
    Original review: Feb. 4, 2010

    I called because a VISA transaction to the National Practitioner's Data Bank would not go through even though it was tried twice. The bank spokesperson said, "The problem is that this business is in Virginia and Umpqua no longer does business with that state because there have been too many problems with fraudulent transactions!". They had no suggestions even though my VISA card was good and this was a national medical business. They said, "Send a money order. Umpqua can no longer help you." As a medical practitioner, I was unable to access the National Practitioner's Data Bank for necessary information concerning my work as a doctor.

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        ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page.
        1. Federal Financial Institutions Examination Council, “HMDA Data Publication.” Accessed July 6, 2022.
        2. Federal Deposit Insurance Corporation (FDIC), “FDIC Announces Settlement with Umpqua Bank, Roseburg, Oregon for Unfair and Deceptive Practices in Violation of Section 5 of the Federal Trade Commission Act.” Accessed September 20, 2022.

        Umpqua Bank Company Information

        Company Name:
        Umpqua Bank