What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included).
All
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included).
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
VA
The VA mortgage is available to those who are serving in the US military, or have been discharged from service in the past. The VA loan is a great benefit for those who qualify. The hallmark of the VA loan is that it allows for 100% financing. No down payment! Additionally- the VA insurance is …
VA
The VA mortgage is available to those who are serving in the US military, or have been discharged from service in the past. The VA loan is a great benefit for those who qualify. The hallmark of the VA loan is that it allows for 100% financing. No down payment! Additionally- the VA insurance is …
USDA
The USDA loan is similar to the FHA in some ways. It is insured by a government agency, but not the Federal Housing Administration….(or the department of Veterans Affairs). The USDA loan is insured by the US department of Agriculture! There are some major limitations to the USDA loan program, the main one being location …
USDA
The USDA loan is similar to the FHA in some ways. It is insured by a government agency, but not the Federal Housing Administration….(or the department of Veterans Affairs). The USDA loan is insured by the US department of Agriculture! There are some major limitations to the USDA loan program, the main one being location …
Tyrion Lannister on Real Estate Marketing
Game of Thrones fan or not, Tyrion Lannister dropped a nugget of wisdom on the series finale (no spoilers ahead) …
Tyrion Lannister on Real Estate Marketing
Game of Thrones fan or not, Tyrion Lannister dropped a nugget of wisdom on the series finale (no spoilers ahead) …
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end-of-summer real estate frenzy/climax is upon us.
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end-of-summer real estate frenzy/climax is upon us.
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end of summer real estate frenzy/climax is upon us. I wanted to take a moment to highlight …
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end of summer real estate frenzy/climax is upon us. I wanted to take a moment to highlight …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
The 80/20 Rule and Relationships
https://pdxhomeloan.com On this episode of The Equity Accelerator, we’re continuing our thread on building equity in all facets of your life from personal to professional. Today, it’s all about client data and list building to perfect the Pareto’s Principle in your own business. **Prefer to Listen?** Subscribe on iTunes: https://itunes.apple.com/us/podcast/the-equity-accelerator/id1449878811?mt=2: Subscribe on GooglePlay https://play.google.com/music/m/Ixtlgwehqvky7dih3dsurikcakq?t=The_Equity_Accelerator TAGS: …
The 80/20 Rule and Relationships
https://pdxhomeloan.com On this episode of The Equity Accelerator, we’re continuing our thread on building equity in all facets of your life from personal to professional. Today, it’s all about client data and list building to perfect the Pareto’s Principle in your own business. **Prefer to Listen?** Subscribe on iTunes: https://itunes.apple.com/us/podcast/the-equity-accelerator/id1449878811?mt=2: Subscribe on GooglePlay https://play.google.com/music/m/Ixtlgwehqvky7dih3dsurikcakq?t=The_Equity_Accelerator TAGS: …
Operation Twist = Mortgage Rate Bonanza
Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates. Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …
Operation Twist = Mortgage Rate Bonanza
Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates. Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …
Multi-generational living: buying a house with co-signers
Buying a house with family members as co-signer can often improve your outcome! I recently had the privilege of advising a family in purchasing a home in Portland. My main borrower was a first-time home buyer, but he was assisted by his wife’s parents! The scenario was as follows: the wife was a …
Multi-generational living: buying a house with co-signers
Buying a house with family members as co-signer can often improve your outcome! I recently had the privilege of advising a family in purchasing a home in Portland. My main borrower was a first-time home buyer, but he was assisted by his wife’s parents! The scenario was as follows: the wife was a …
Mortgage Adoption Program
We believe that owning real estate, and having borrowed money against it is MORE than a simple transaction. Your equity is always on the move, and your debts are always changing- and so is LIFE! We believe that owning real estate requires some ongoing active management. The problem is that most lenders are set up …
Mortgage Adoption Program
We believe that owning real estate, and having borrowed money against it is MORE than a simple transaction. Your equity is always on the move, and your debts are always changing- and so is LIFE! We believe that owning real estate requires some ongoing active management. The problem is that most lenders are set up …
Home Improvement & Constructions Loans
When it comes to new construction loans, there are two main types of home loans to choose from: construction-to-permanent and stand-alone construction. Situationally, there are many reasons why either may be more appealing to a borrower than the alternative. Here’s the rundown…
Home Improvement & Constructions Loans
When it comes to new construction loans, there are two main types of home loans to choose from: construction-to-permanent and stand-alone construction. Situationally, there are many reasons why either may be more appealing to a borrower than the alternative. Here’s the rundown…
FHA 203K Rehab Loan
One common rehab financing program is through the FHA. Since it is run by the government, it has a silly bureaucratic name – “the FHA 203K” program! Within this umbrella there are 2 versions of the FHA 203k – the FHA 203k Standard, and the FHA 203k Limited… the 203k Limited was formerly known as …
FHA 203K Rehab Loan
One common rehab financing program is through the FHA. Since it is run by the government, it has a silly bureaucratic name – “the FHA 203K” program! Within this umbrella there are 2 versions of the FHA 203k – the FHA 203k Standard, and the FHA 203k Limited… the 203k Limited was formerly known as …
FHA
The FHA loan is often mistaken for a first time home buyer program in the Portland area. This is because it is a program OFTEN used by first time buyers, but anyone can qualify for the FHA mortgage!
FHA
The FHA loan is often mistaken for a first time home buyer program in the Portland area. This is because it is a program OFTEN used by first time buyers, but anyone can qualify for the FHA mortgage!
Fannie Mae Homestyle Mortgage
The Fannie Mae Homestyle loan can finance up to 97% of the acquisition price PLUS the cost of materials and labor for the rehab project. For instance – if you find a property you’d like to purchase at $300,000.00 but you know you’d like to add $50,000.00 of immediate modifications to the property right after …
Fannie Mae Homestyle Mortgage
The Fannie Mae Homestyle loan can finance up to 97% of the acquisition price PLUS the cost of materials and labor for the rehab project. For instance – if you find a property you’d like to purchase at $300,000.00 but you know you’d like to add $50,000.00 of immediate modifications to the property right after …
Escrow Holdback Season Starts NOW
OK! A strange phenomenon is taking hold of the Portland metro area real estate closing statments: ESCROW HOLDBACKS! Oregon is a little different in the way we collect our property taxes- we only do it ONCE per year, due in November. For all closings in September, and October most title companies require a huge reserve account to be collected …
Escrow Holdback Season Starts NOW
OK! A strange phenomenon is taking hold of the Portland metro area real estate closing statments: ESCROW HOLDBACKS! Oregon is a little different in the way we collect our property taxes- we only do it ONCE per year, due in November. For all closings in September, and October most title companies require a huge reserve account to be collected …
Conventional
Conventional financing aka “conforming financing” refer to the basic loan programs that have prevailed in the Oregon Real estate market for decades. In fact, the term “conventional financing” is an umbrella term that covers ALL loans you could get from a bank, or broker. “Unconventional financing” would refer to seller carried contracts, private financing, and …
Conventional
Conventional financing aka “conforming financing” refer to the basic loan programs that have prevailed in the Oregon Real estate market for decades. In fact, the term “conventional financing” is an umbrella term that covers ALL loans you could get from a bank, or broker. “Unconventional financing” would refer to seller carried contracts, private financing, and …
2010 Mortgage Rates Prediction
Ok, I’m just going to go out there and do it. This is what the internet is all about right? People getting out there and putting out opinion and information and hoping that it gets read. Perhaps I could drive more traffic to my site if my views were more extreme! Well, I will start …
2010 Mortgage Rates Prediction
Ok, I’m just going to go out there and do it. This is what the internet is all about right? People getting out there and putting out opinion and information and hoping that it gets read. Perhaps I could drive more traffic to my site if my views were more extreme! Well, I will start …
Podcasts
The 80/20 Rule and Relationships
https://pdxhomeloan.com On this episode of The Equity Accelerator, we’re continuing our thread on building equity in all facets of your life from personal to professional. Today, it’s all about client data and list building to perfect the Pareto’s Principle in your own business. **Prefer to Listen?** Subscribe on iTunes: https://itunes.apple.com/us/podcast/the-equity-accelerator/id1449878811?mt=2: Subscribe on GooglePlay https://play.google.com/music/m/Ixtlgwehqvky7dih3dsurikcakq?t=The_Equity_Accelerator TAGS: …
Tyrion Lannister on Real Estate Marketing
Game of Thrones fan or not, Tyrion Lannister dropped a nugget of wisdom on the series finale (no spoilers ahead) …
Educational
How Does the Debt Ceiling Affect Mortgage Rates?
This debate is unavoidable, so I won’t try to establish any context for this blog post. I’ll just try to keep this very simple…
Potential Jumbo Refinancing Candidates
So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage…
Skipping a payment when you refinance
Mortgage borrowers of the world! It’s time for some “real talk” about the true and actual benefits of refinancing a mortgage. I often get…
Timmy G Says: “Americans Should Refinance Now”
Treasury secretary Tim Geithner made some comments today that the Fed has “achieved its goal” of lowering interest rates through the purchase of Mortgage…
What is a Mortgage? (Probably more than what you think)
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the…
Loan Modification: Buyer Beware
I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some bright marketing minds that…
Mortgage Rate Volatility and the End of the Refinance Boom
Kind of feels like an epic hangover. The low low rate party that seemed like it would never end, has come to a decidedly…
What is the best way to pay your mortgage?
So now you’ve got a mortgage. What is the best way to pay it? Should you make extra payments? What about bi-weekly payment programs?…
Greece is the Word!
Mortgage rates had a wild ride today where we saw a swing of over 80 basis points as the international markets continue to have…
Refinancing an Option Arm = Tax Write Off Bonanza
I received a very welcome email from my main man Grant Folske CPA telling me that I will be getting a refund from the IRS this…
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end of summer real estate frenzy/climax is upon us. I wanted to take a moment to highlight …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end-of-summer real estate frenzy/climax is upon us.
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included).
Low Rates and the Return of Private Mortgage Insurance (PMI)
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise…
Is it Possible to Buy Real Estate with Less Than 20% Down?
A realtor colleague of mine was recently relating his shock to me about how often he is talking to renters who aren’t considering buying…
Planning for Retirement (60 Minutes Video)
I have never been too excited about the prospect of living off of my 401k proceeds in my golden years. I’m pretty young, so…
Is this the top of the Portland Real Estate Market?
***SPOILER ALERT*** I’m not an economist, or statistician. I’m a Portland area mortgage lender, and Portland area home owner, as well as a Portland…
Mortgage Rates for Portland OR: Sept 18th 2013 FED DAY!
HOLEY MOLEY! Anyone reading this is likely aware about the FED’s Taper talk, and why it matters to mortgage rates. I was cautiously…
Mortgage Rate Bulletin Sept. 28th
Are you sick of this yet? Mortgage rates hit their all time lows this week on Wednesday. Thirty-year fixed rate loans touched 3% if…
Get Your Tax Credit NOW
I just received a very generous offer from my CPA here in Portland, Grant Folske. He has offered any of my clients a flat…
How does a Mortgage Pre-approval work?
Many of you have heard about “getting pre-approved” with a lender. It should be pretty obvious what this means, but what most people don’t…
FHA Streamline: How to Qualify
I should have subtitled this post: “Why you might NOT Qualify” The FHA mortgage continues to be one of the most popular mortgages in…
A New Strategy for Finding That Downpayment
I had coffee with a financial planning associate of mine today named Mark Delphine with the “Futures” planning group. He brought a very interesting…
Free Resources for Divorcing Couples in Portland, Oregon
someone you know is contemplating a divorce, do them a favor and send them a link to this blog post. Helping families in a…
How to save your money: Webinar invitation
“Establishing your cash reserve: the first step to financial safety” Join James Adair from Portland Home Loan for a Webinar on July 28: 12:15-12:50…
Loan Types
New HARP loan “HARP 2” + new FHA loan limits 2011
Christmas might be coming early for homeowners in Oregon and Washington! The Obama administration has been putting pressure on banks to come up with…
Potential Jumbo Refinancing Candidates
So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage…
Skipping a payment when you refinance
Mortgage borrowers of the world! It’s time for some “real talk” about the true and actual benefits of refinancing a mortgage. I often get…
The END of Tightening Mortgage Approval Guidelines
I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012. This means…
The Home Valuation Code of Conduct
Well, its finally here. the HVCC! (it stands for Home Valuation Code of Conduct) What does this mean? Well it means that all mortgage…
What is a Mortgage? (Probably more than what you think)
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the…
Get Tax Credit Sooner Than Now!
I just read this blurb over the newswire and thought it merited a blogpost. Shaun Donovan, secretary of the U.S. Department of Housing and…
If your rate is above 4.5%
I’ve been hearing the radio ads just like everyone else, and our favorite breathless loan cheerleader has lately been urging you to call him…
Loan Modification: Buyer Beware
I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some bright marketing minds that…
What is Correspondent Lending?
I’ll try to make this brief, because this is kind of a boring topic, but a very important one if you are in the…
What is the best way to pay your mortgage?
So now you’ve got a mortgage. What is the best way to pay it? Should you make extra payments? What about bi-weekly payment programs?…
More Mixed Messages About $8k Credit
So I’ve posted links to press releases from HUD chief Shaun Donovan claiming plans to “monetize” the $8000 Credit in the form of some kind of…
Refinancing an Option Arm = Tax Write Off Bonanza
I received a very welcome email from my main man Grant Folske CPA telling me that I will be getting a refund from the IRS this…
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end of summer real estate frenzy/climax is upon us. I wanted to take a moment to highlight …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
Multi-generational living: buying a house with co-signers
Buying a house with family members as co-signer can often improve your outcome! I recently had the privilege of advising a family in purchasing a home in Portland. My main borrower was a first-time home buyer, but he was assisted by his wife’s parents! The scenario was as follows: the wife was a …
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end-of-summer real estate frenzy/climax is upon us.
Low Rates and the Return of Private Mortgage Insurance (PMI)
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise…
Is it Possible to Buy Real Estate with Less Than 20% Down?
A realtor colleague of mine was recently relating his shock to me about how often he is talking to renters who aren’t considering buying…
About to Get Buck-wild
Hey First time buyers…. Where will you be when the music stops? With the combination of new regulations that are making the lending process…
Home Improvement & Constructions Loans
When it comes to new construction loans, there are two main types of home loans to choose from: construction-to-permanent and stand-alone construction. Situationally, there are many reasons why either may be more appealing to a borrower than the alternative. Here’s the rundown…
Mortgage Rates: Explained
If you’re in the market to purchase a new home, you’ll want a deep understanding of mortgage rates. However, navigating the dark waters of…
Mortgage Rate Bulletin Sept. 28th
Are you sick of this yet? Mortgage rates hit their all time lows this week on Wednesday. Thirty-year fixed rate loans touched 3% if…
Closing Times: The Lifecycle of a Mortgage
Most folks in the biz are probably aware of this by now, but the Mortgage Disclosure Improvement Act is officially upon us. What this…
Maximum FHA loan amounts for Portland Oregon (and the rest of Oregon)
Everything keeps on changing in the mortgage-verse (that’s a thing right?- like mortgage + universe = mortgageverse?). One major change that will effect our…
Mortgage News
How Does the Debt Ceiling Affect Mortgage Rates?
This debate is unavoidable, so I won’t try to establish any context for this blog post. I’ll just try to keep this very simple…
New HARP loan “HARP 2” + new FHA loan limits 2011
Christmas might be coming early for homeowners in Oregon and Washington! The Obama administration has been putting pressure on banks to come up with…
Potential Jumbo Refinancing Candidates
So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage…
Refinance Your Mortgage: It’s a No Brainer
Changing your mortgage can be a daunting task. However, when mortgage rates are falling, the cost savings that one can achieve through refinancing is…
Skipping a payment when you refinance
Mortgage borrowers of the world! It’s time for some “real talk” about the true and actual benefits of refinancing a mortgage. I often get…
The END of Tightening Mortgage Approval Guidelines
I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012. This means…
The Home Valuation Code of Conduct
Well, its finally here. the HVCC! (it stands for Home Valuation Code of Conduct) What does this mean? Well it means that all mortgage…
Timmy G Says: “Americans Should Refinance Now”
Treasury secretary Tim Geithner made some comments today that the Fed has “achieved its goal” of lowering interest rates through the purchase of Mortgage…
What is a Mortgage? (Probably more than what you think)
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the…
Asset Verification and Sourcing deposits for mortgage approval
Getting a loan these days is incredibly INCOME driven, but an often overlooked part of the approval process is asset verification. Ignore this part…
Get Tax Credit Sooner Than Now!
I just read this blurb over the newswire and thought it merited a blogpost. Shaun Donovan, secretary of the U.S. Department of Housing and…
If your rate is above 4.5%
I’ve been hearing the radio ads just like everyone else, and our favorite breathless loan cheerleader has lately been urging you to call him…
Look on the Bright Side of Home Loans This Holiday Season
Did you know that the national “Look on the Bright Side Day” is this Friday, December 21st? It may be cold and dreary outside,…
MDIA: Mortgage Disclosure Changes
Starting August 1st of this year, the Mortgage industry at large will be operating a little differently… specifically, operating MORE SLOWLY. August first is…
Mortgage Rate Apocalypse
Now that I’ve got your attention, here is the real truth about the current state of mortgage rates. From the industry that has been…
Mortgage Rate Volatility and the End of the Refinance Boom
Kind of feels like an epic hangover. The low low rate party that seemed like it would never end, has come to a decidedly…
What is the best way to pay your mortgage?
So now you’ve got a mortgage. What is the best way to pay it? Should you make extra payments? What about bi-weekly payment programs?…
Greece is the Word!
Mortgage rates had a wild ride today where we saw a swing of over 80 basis points as the international markets continue to have…
More Mixed Messages About $8k Credit
So I’ve posted links to press releases from HUD chief Shaun Donovan claiming plans to “monetize” the $8000 Credit in the form of some kind of…
Operation Twist = Mortgage Rate Bonanza
Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates. Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …
2010 Mortgage Rates Prediction
Ok, I’m just going to go out there and do it. This is what the internet is all about right? People getting out there and putting out opinion and information and hoping that it gets read. Perhaps I could drive more traffic to my site if my views were more extreme! Well, I will start …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
Low Rates and the Return of Private Mortgage Insurance (PMI)
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise…
Is it Possible to Buy Real Estate with Less Than 20% Down?
A realtor colleague of mine was recently relating his shock to me about how often he is talking to renters who aren’t considering buying…
About to Get Buck-wild
Hey First time buyers…. Where will you be when the music stops? With the combination of new regulations that are making the lending process…
Mortgage Rates: Explained
If you’re in the market to purchase a new home, you’ll want a deep understanding of mortgage rates. However, navigating the dark waters of…
How to tell if your taxes are included in your mortgage
It’s that time of year again! Late October in Oregon. Time for all the non-Multnomah county residents to pat themselves on the back and…
Is this the top of the Portland Real Estate Market?
***SPOILER ALERT*** I’m not an economist, or statistician. I’m a Portland area mortgage lender, and Portland area home owner, as well as a Portland…
Mortgage Rates for Portland OR: Sept 18th 2013 FED DAY!
HOLEY MOLEY! Anyone reading this is likely aware about the FED’s Taper talk, and why it matters to mortgage rates. I was cautiously…
Mortgage Rate Bulletin Sept. 28th
Are you sick of this yet? Mortgage rates hit their all time lows this week on Wednesday. Thirty-year fixed rate loans touched 3% if…
Becoming a first time Landlord
So you want to become a real estate investor….. How to begin? First of all, I applaud you! Most don’t get the gumption to…
Get Your Tax Credit NOW
I just received a very generous offer from my CPA here in Portland, Grant Folske. He has offered any of my clients a flat…
Fed Meeting Effect
The result of today’s Fed meeting is that they are leaving their key interest rate unchanged. Their optimistic tone about the “easing of our…
How does a Mortgage Pre-approval work?
Many of you have heard about “getting pre-approved” with a lender. It should be pretty obvious what this means, but what most people don’t…
FHA Streamline: How to Qualify
I should have subtitled this post: “Why you might NOT Qualify” The FHA mortgage continues to be one of the most popular mortgages in…
Closing Times: The Lifecycle of a Mortgage
Most folks in the biz are probably aware of this by now, but the Mortgage Disclosure Improvement Act is officially upon us. What this…
How does the Government shutdown affect mortgages?
Quick memo here about how the 2013 “partial Government shutdown” will affect those trying to get a mortgage right now. The short answer is…
Maximum FHA loan amounts for Portland Oregon (and the rest of Oregon)
Everything keeps on changing in the mortgage-verse (that’s a thing right?- like mortgage + universe = mortgageverse?). One major change that will effect our…
Mortgage Rates for Portland OR: August 16th 2013
After a nice calm 3 weeks where mortgage rates drifted slowly and gently down, we’re re-entering a period of volatility in the bond market,…
Portland
Potential Jumbo Refinancing Candidates
So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage…
The Home Valuation Code of Conduct
Well, its finally here. the HVCC! (it stands for Home Valuation Code of Conduct) What does this mean? Well it means that all mortgage…
What is a Mortgage? (Probably more than what you think)
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the…
Get Tax Credit Sooner Than Now!
I just read this blurb over the newswire and thought it merited a blogpost. Shaun Donovan, secretary of the U.S. Department of Housing and…
Loan Modification: Buyer Beware
I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some bright marketing minds that…
What is Correspondent Lending?
I’ll try to make this brief, because this is kind of a boring topic, but a very important one if you are in the…
2010 Mortgage Rates Prediction
Ok, I’m just going to go out there and do it. This is what the internet is all about right? People getting out there and putting out opinion and information and hoping that it gets read. Perhaps I could drive more traffic to my site if my views were more extreme! Well, I will start …
Escrow Holdback Season Starts NOW
OK! A strange phenomenon is taking hold of the Portland metro area real estate closing statments: ESCROW HOLDBACKS! Oregon is a little different in the way we collect our property taxes- we only do it ONCE per year, due in November. For all closings in September, and October most title companies require a huge reserve account to be collected …
Two Portland Mortgage Success Stories
It has been a very busy time for us at Mortgage Trust. Rates are super low and holding steady, and the window for that $8,000.00 tax credit is fast closing. Affordability is rising across the board, and the annual end of summer real estate frenzy/climax is upon us. I wanted to take a moment to highlight …
Multi-generational living: buying a house with co-signers
Buying a house with family members as co-signer can often improve your outcome! I recently had the privilege of advising a family in purchasing a home in Portland. My main borrower was a first-time home buyer, but he was assisted by his wife’s parents! The scenario was as follows: the wife was a …
Low Rates and the Return of Private Mortgage Insurance (PMI)
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise…
About to Get Buck-wild
Hey First time buyers…. Where will you be when the music stops? With the combination of new regulations that are making the lending process…
How to tell if your taxes are included in your mortgage
It’s that time of year again! Late October in Oregon. Time for all the non-Multnomah county residents to pat themselves on the back and…
Is this the top of the Portland Real Estate Market?
***SPOILER ALERT*** I’m not an economist, or statistician. I’m a Portland area mortgage lender, and Portland area home owner, as well as a Portland…
Mortgage Rates for Portland OR: Sept 18th 2013 FED DAY!
HOLEY MOLEY! Anyone reading this is likely aware about the FED’s Taper talk, and why it matters to mortgage rates. I was cautiously…
Closing Times: The Lifecycle of a Mortgage
Most folks in the biz are probably aware of this by now, but the Mortgage Disclosure Improvement Act is officially upon us. What this…
How does the Government shutdown affect mortgages?
Quick memo here about how the 2013 “partial Government shutdown” will affect those trying to get a mortgage right now. The short answer is…
Maximum FHA loan amounts for Portland Oregon (and the rest of Oregon)
Everything keeps on changing in the mortgage-verse (that’s a thing right?- like mortgage + universe = mortgageverse?). One major change that will effect our…
Portland Report: May 2009
Latest installment of the “Portland Report” We cover the new Make Home Affordable initiative, as well as tips for 2009 “spring buying season” for…
Refinancing
New HARP loan “HARP 2” + new FHA loan limits 2011
Christmas might be coming early for homeowners in Oregon and Washington! The Obama administration has been putting pressure on banks to come up with…
Potential Jumbo Refinancing Candidates
So, if you pay attention to this blog, you know that interest rates have popped up from their mind-boggling lows in early November. Mortgage…
Refinance Your Mortgage: It’s a No Brainer
Changing your mortgage can be a daunting task. However, when mortgage rates are falling, the cost savings that one can achieve through refinancing is…
Skipping a payment when you refinance
Mortgage borrowers of the world! It’s time for some “real talk” about the true and actual benefits of refinancing a mortgage. I often get…
The END of Tightening Mortgage Approval Guidelines
I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012. This means…
What is a Mortgage? (Probably more than what you think)
Time to break things way down. Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry. I’ve been in the…
If your rate is above 4.5%
I’ve been hearing the radio ads just like everyone else, and our favorite breathless loan cheerleader has lately been urging you to call him…
Mortgage Rate Apocalypse
Now that I’ve got your attention, here is the real truth about the current state of mortgage rates. From the industry that has been…
Mortgage Rate Volatility and the End of the Refinance Boom
Kind of feels like an epic hangover. The low low rate party that seemed like it would never end, has come to a decidedly…
Operation Twist = Mortgage Rate Bonanza
Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates. Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …
The Difference Between New & Old FHA Rules
Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property. It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …
What To Do If You Are Underwater On Your House
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down …
Low Rates and the Return of Private Mortgage Insurance (PMI)
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise…
Mortgage Rates for Portland OR: Sept 18th 2013 FED DAY!
HOLEY MOLEY! Anyone reading this is likely aware about the FED’s Taper talk, and why it matters to mortgage rates. I was cautiously…
FHA Streamline: How to Qualify
I should have subtitled this post: “Why you might NOT Qualify” The FHA mortgage continues to be one of the most popular mortgages in…
How does the Government shutdown affect mortgages?
Quick memo here about how the 2013 “partial Government shutdown” will affect those trying to get a mortgage right now. The short answer is…
Free Resources for Divorcing Couples in Portland, Oregon
someone you know is contemplating a divorce, do them a favor and send them a link to this blog post. Helping families in a…
Products
Conventional
Conventional financing aka “conforming financing” refer to the basic loan programs that have prevailed in the Oregon Real estate market for decades. In fact, the term “conventional financing” is an umbrella term that covers ALL loans you could get from a bank, or broker. “Unconventional financing” would refer to seller carried contracts, private financing, and …
FHA
The FHA loan is often mistaken for a first time home buyer program in the Portland area. This is because it is a program OFTEN used by first time buyers, but anyone can qualify for the FHA mortgage!
USDA
The USDA loan is similar to the FHA in some ways. It is insured by a government agency, but not the Federal Housing Administration….(or the department of Veterans Affairs). The USDA loan is insured by the US department of Agriculture! There are some major limitations to the USDA loan program, the main one being location …
VA
The VA mortgage is available to those who are serving in the US military, or have been discharged from service in the past. The VA loan is a great benefit for those who qualify. The hallmark of the VA loan is that it allows for 100% financing. No down payment! Additionally- the VA insurance is …
Renovation Financing
Many clients of mine zero in on properties that require some additional work. The next question is “how do we pay for these property repairs, and is there a way we can finance them?” This is a key question, and there are actually quite a few ways to make it work. The renovation or rehab …
Fannie Mae Homestyle Mortgage
The Fannie Mae Homestyle loan can finance up to 97% of the acquisition price PLUS the cost of materials and labor for the rehab project. For instance – if you find a property you’d like to purchase at $300,000.00 but you know you’d like to add $50,000.00 of immediate modifications to the property right after …
Mortgage Adoption Program
We believe that owning real estate, and having borrowed money against it is MORE than a simple transaction. Your equity is always on the move, and your debts are always changing- and so is LIFE! We believe that owning real estate requires some ongoing active management. The problem is that most lenders are set up …
FHA 203K Rehab Loan
One common rehab financing program is through the FHA. Since it is run by the government, it has a silly bureaucratic name – “the FHA 203K” program! Within this umbrella there are 2 versions of the FHA 203k – the FHA 203k Standard, and the FHA 203k Limited… the 203k Limited was formerly known as …