Home Loan Mortgage Thoughts and Strategy - PDX Home Loan Team

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 you pay a point (APR of 3.167)… so basically this is getting cray-cray, or to use
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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 market is the recent/pending REDUCTION of the maximum allowed FHA mortgage loan amount.  These loan amounts
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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 approach and I completely agree.  By avoiding closing costs two things happen: 1. The net benefit
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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 area landlord. So I feel I’m writing this as an interested bystander with a ring side
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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 real estate because they are under the impression that a purchase requires a 20% down payment. 
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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 temporarily feel superior, and bask in the glow of their money savings for a couple weeks.
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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 – government shutdown = mortgage shutdown.  I have a few clients who have their loan files
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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 for those of you who are searching for some quick perspective on how this current debt
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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 know is how an approval is determined.  You might be surprised to find out that mortgage
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HARP 2.0: Introducing Looser Refinance Rules

There are three new mortgage programs that are making waves in the mortgage world right now.  To call them “new” is a bit bold – they are actually new rules for loan programs that have been around for awhile. It’s
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Sierra Pacific Mortgage Company, Inc. - NMLS 1788
ML: 1098221 Licensed in Oregon ML-460
& Licensed in Washington CL#1788
Not Licensed in New York

Sierra Pacific Mortgage May not be the lender for all products offered on this website. Some loans may be made by a lender with whom Sierra Pacific Mortgage has a business relationship.