Christine Anderson, GRI
Real Estate Broker
www.PortlandOregonRealEstateGuide.com
www.PortlandOregonRealEstateGuide.com
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6443 SW Beaverton Hillsdale Hwy #100 Portland, OR 97221 | Direct: 503-497-5248 | Email: christineanderson@windermere.com
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Mortgage Rates & Information
It has been pretty wild lately for mortgage rates. Check out the current rates below:
Or see what Steve Nassar has to say regarding this week's happenings in the world of mortgage rates.
Mortgage rates are back down a bit, and there are signs of a reviving credit market.
Click here for Portland, Oregon mortgage information(pdf). This is a great opportunity to get an insider's view of the trends and influences on rates.
Want to know what your monthly payment will be? Here is a mortgage calculator.
Your pre-approval -- how much can you afford?
First and foremost, you will want to determine if you qualify for financing and for how much. Your loan officer will answer this for you.
Two questions come into play when determining which price range to shop in.
First, how much do you qualify for from the lender's point of view?
Second, how much of a payment are you comfortable with?
Two questions come into play when determining which price range to shop in.
First, how much do you qualify for from the lender's point of view?
Second, how much of a payment are you comfortable with?
Keep in mind that just because you qualify to borrow a certain amount does not mean you will be comfortable with the payment that accompanies it.
How do I find a mortgage broker or lender?
You can talk with a bank or credit union directly, or you can use a mortgage broker. Mortgage brokers are middlemen who work with a number of lenders. Because they can choose from programs from many banks, they may be able to offer a greater variety of programs that are not available at your own bank. This will sometimes mean that you can get a lower rate, or lower fees by using one of them. Other times, your bank may have a program that fits your needs better. It is wise to talk with more than one mortgage broker or lender for comparison.
A word of caution: some brokers may offer what appears to be an especially low rate, but then tack on so many fees that your effective rate is actually much higher. To compare one lender to another, you need to know not only the interest rate, but also what fees will be charged and the terms of the loan. A knowlegable and reputable loan officer will discuss several options with you, and will provide you with a Good Faith Estimate.
Suggested Portland area Mortgage Brokers and Lenders:
Steve Nassar
A word of caution: some brokers may offer what appears to be an especially low rate, but then tack on so many fees that your effective rate is actually much higher. To compare one lender to another, you need to know not only the interest rate, but also what fees will be charged and the terms of the loan. A knowlegable and reputable loan officer will discuss several options with you, and will provide you with a Good Faith Estimate.
Suggested Portland area Mortgage Brokers and Lenders:
Steve Nassar
Cosmopolitan Funding Group
4640 SW Macadam Ave.
Portland, OR 97239
503-224-4564
Windermere Mortgage Services
636 NW 21st Ave.
Portland, OR 97209
503-464-9215
Cherie Stanley
Wells Fargo Home Mortgage
5100 SW Macadam Ave.
Portland, OR 97239
503-946-1159
800-887-9815
Pacific Residential Mortgage
2 Centerpointe Dr., Ste. #500
Lake Oswego, OR 97035
503-670-0525
