Home Loan Mortgage Thoughts and Strategy

Home Loan Mortgage Podcast

A podcast with industry experts about home loan mortgages and strategy.

Tyrion Lannister on Real Estate Marketing

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) …
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The 80/20 Rule and Relationships

The 80/20 Rule and Relationships

http://www.pdxhomeloan.com On this episode of The Equity Accelerator, we’re continuing our thread on building equity in all facets of your …
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Liability Management for Financial Advisors

Liability Management for Financial Advisors

http://www.pdxhomeloan.com On this episode of The Equity Accelerator, we’re bringing you some insights from a recent small breakfast event we …
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From Information to Connection

From Information to Connection

http://www.pdxhomeloan.com On this episode of The Equity Accelerator, we’re talking about building end-to-end equity, from real estate to your spiritual …
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The Purple Cow of Real Estate

The Purple Cow of Real Estate

On this episode of The Equity Accelerator, we welcome Jonny Fritz … musician turned realtor. In it, Los Angeles-based Jonny …
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The Buyer Retrieval System

The Buyer Retrieval System

http://www.pdxhomeloan.com On this episode of The Equity Accelerator, we’re talking metrics and accountability with everything you do within your practice …
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What To Do If You Are Underwater On Your House

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 …
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Two Portland Mortgage Success Stories

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 …
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The Difference Between New & Old FHA Rules

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 …
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Refinancing an Option Arm = Tax Write Off Bonanza

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 …
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Greece is the Word!

Greece is the Word!

Mortgage rates had a wild ride today where we saw a swing of over 80 basis points as the international …
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What is the best way to pay your mortgage?

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 …
Read More
Mortgage Rate Volatility and the End of the Refinance Boom

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 …
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Loan Modification: Buyer Beware

Loan Modification: Buyer Beware

I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some …
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How to save your money: Webinar invitation

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 …
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Free Resources for Divorcing Couples in Portland, Oregon

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 …
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Home Improvement & Constructions Loans

Home Improvement & Constructions Loans

Building a Better Strategy: Home Construction Loans When it comes to new construction loans, there are two main types of …
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buying a house with co-signers

Multi-generational living: buying a house with co-signers

Buying a house with family members as a co-signer can often improve your outcome! I recently had the privilege of …
Read More
Two Portland Mortgage Success Stories

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 …
Read More
The Difference Between New & Old FHA Rules

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 …
Read More
Refinancing an Option Arm = Tax Write Off Bonanza

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 …
Read More
More Mixed Messages About $8k Credit

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 …
Read More
What is the best way to pay your mortgage?

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 …
Read More
What is Correspondent Lending?

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 …
Read More
Loan Modification: Buyer Beware

Loan Modification: Buyer Beware

I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some …
Read More
If your rate is above 4.5%

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 …
Read More

What To Do If You Are Underwater On Your House

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 …
Read More
The Difference Between New & Old FHA Rules

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 …
Read More
More Mixed Messages About $8k Credit

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 …
Read More
Greece is the Word!

Greece is the Word!

Mortgage rates had a wild ride today where we saw a swing of over 80 basis points as the international …
Read More
2010 Mortgage Rates Prediction

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? …
Read More
What is the best way to pay your mortgage?

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 …
Read More
Operation Twist = Mortgage Rate Bonanza

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 …
Read More
Mortgage Rate Volatility and the End of the Refinance Boom

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 …
Read More
Mortgage Rate Apocalypse

Mortgage Rate Apocalypse

Now that I’ve got your attention, here is the real truth about the current state of mortgage rates. From the …
Read More
MDIA: Mortgage Disclosure Changes

MDIA: Mortgage Disclosure Changes

Starting August 1st of this year, the Mortgage industry at large will be operating a little differently… specifically, operating MORE …
Read More

buying a house with co-signers

Multi-generational living: buying a house with co-signers

Buying a house with family members as a co-signer can often improve your outcome! I recently had the privilege of …
Read More
Two Portland Mortgage Success Stories

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 …
Read More
Escrow Holdback Season Starts NOW

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 …
Read More
2010 Mortgage Rates Prediction

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? …
Read More
What is Correspondent Lending?

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 …
Read More
Loan Modification: Buyer Beware

Loan Modification: Buyer Beware

I am very dubious about this new “loan modification” industry that is cropping up nationwide. It would seem that some …
Read More
Get Tax Credit Sooner Than Now!

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 …
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Closing Times: The Lifecycle of a Mortgage

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 …
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What is a Mortgage? (Probably more than what you think)

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 …
Read More
The Home Valuation Code of Conduct

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 …
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What To Do If You Are Underwater On Your House

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 …
Read More
The Difference Between New & Old FHA Rules

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 …
Read More
Operation Twist = Mortgage Rate Bonanza

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 …
Read More
Mortgage Rate Volatility and the End of the Refinance Boom

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 …
Read More
Mortgage Rate Apocalypse

Mortgage Rate Apocalypse

Now that I’ve got your attention, here is the real truth about the current state of mortgage rates. From the …
Read More
If your rate is above 4.5%

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 …
Read More
Free Resources for Divorcing Couples in Portland, Oregon

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 …
Read More
FHA Streamline: How to Qualify

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 …
Read More
What is a Mortgage? (Probably more than what you think)

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 …
Read More
The END of Tightening Mortgage Approval Guidelines

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 …
Read More

Products

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 to execute the transaction and not much more.  If you already have a house and a mortgage you can still engage us RIGHT NOW and get signed up for our Mortgage Adoption program.  Once you are in the program, you will receive a complimentary real estate and money review.  We will gather all of your relevant details around debts, credit, income and equity, and help you compile it into a larger financial plan.  We will set some goals, and then we will simply follow up with you periodically to help you stay on track.  There is no-cost to this service, and it is not …
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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 the FHA 203k STREAMLINE, but in 2017 I think they changed the name. The FHA 203k Limited is easiest to wrap your head around. The reason they call it “limited” is that your repair budget is limited to $35,000.00. So this is perfect for a 1st time buyer that wants to reach up into the edge of what is available pricewise, and tackle some immediate deferred maintenance. The only allowed types of renovations in the Limited program are “minor remodeling and non-structural repairs” < But actually the limited does allow for a roof replacement in many instances (provided the structural …
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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 you buy it, the Fannie Mae Homestyle can lend you 97% of the total $350k endeavor.So – in this example, you can show up to purchase this home for $300k, and come to the table with 3% of purchase PLUS rehab ($50k) = $10,500.Your mortgage on day one in this example would be $339,500.00. The seller would walk away with their 300k. And you would have a $50,000.00 rehab budget that would begin to be dispensed to your construction team.Generally when getting a rehab loan, you not only have to be credit approved like any other loan, but you would …
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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 mortgage is one of the key areas that a strategic approach to the mortgage conversation can create an unbelievable financial lift.There are a few versions of the rehab mortgage, and keep in mind you can use the rehab mortgage for PURCHASE, as well as for a refinance.There are 2 common pathways for accessing rehab financing, the FHA 203K program, or the Conforming Fannie Mae Homestyle program. Return to Products SCHEDULE YOUR STRATEGY CALL …
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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 paid fully by the upfront funding fee, and there are NO monthly MI payments.The rates are usually very competitive to FHA and Conforming. It beats the FHA because it allows for less down, and will carry a payment with no monthly mortgage insurance. The VA loan also has that upfront funding fee. But like the FHA and USDA loans, that fee is “financed” – added to the loan amount, and not out of pocket.Unlike the other government insured loans, the VA funding fee can sometimes be waived! If you qualify for the VA loan AND are currently receiving ANY amount …
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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 restrictions. You can only use this loan program in USDA approved rural areas. But if you are up for that rural lifestyle, and buying a home with some space appeals to you- the USDA program allows for financing with NO down payment.The USDA program also has an upfront funding fee. The USDA loan program has some other credit restrictions, as well as county specific income limitations + a residual income qualifying component. Return to Products SCHEDULE YOUR STRATEGY CALL …
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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!The reason why FHA is so common is that it is simply the easiest loan to qualify for. If you think of mortgage programs as a “box” to fit into, the FHA program has the biggest box of all. Need a low down payment? – FHA has you covered! 3.5% minimum down payment required! And the source of funds for that down payment can come from many sources: gift funds from a family member, down payment assistance programs, employer grants, retirement funds, and many more options.Another hallmark of the FHA loan program is that you can still qualify, even if you have a bad or complicated credit history.The FHA technically has no credit guidance. This sometimes creates confusion …
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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 things like that. Any other loan is considered “conventional”.Within that Conforming financing space, the most common loan programs fall within the “FNMA fannie mae/Freddie Mac” agency guidelines. In fact, they are referred to as “conforming” because they CONFORM to the main Fannie Mae and Freddie Mac guidelines. This is your basic 30 year fixed type loan, assorted 5, 7, and 10 year fixed ARM programs etc.Conventional financing is usually the starting point for any mortgage conversation, and if the borrowing profile doesn’t fit within those agency parameters, we might then explore some other programs.The most common misconception I see about conventional …
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