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 …
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 …
Renovation Financing Read More »
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 Read More »
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 Read More »
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 Read More »
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 Read More »
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 Read More »
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 Read More »
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 Read More »
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 Read More »
