I just learned of a new down payment match offer from Guild Mortgage, the largest local mortgage lender in the NW. It’s really simple: you put up 1% of the purchase price of a home and Guild makes a grant of 2% so you qualify for a conventional 3% down payment mortgage. Yes, you just tripled your money. You can buy a $350,000 home with only $3,500 of your money down (plus closing costs). You could buy a nice $100,000 condo with $1,000 down. There’s even more good news in the fine print in the detail flyer my preferred lender, Kelly Parkman at Guild, gave me today
And here’s a short video of Kelly himself explaining it. We’ve worked together for five years and I’ve never seen him so excited.
Contact Kelly at 503/528-9800 or KParkman@GuildMortgage.net or contact me and I’ll help, too
In proverbial "round numbers", mortgage payments on the average home in Portland next year will be about $200/month more than today if this forecast increase in mortgage rates is correct. (To check the forecasting accuracy of these sources, I looked up their January 2012 forecast for January 2013 – they were within 0.2 of today's average rates.
That's to buy at the same price. If home prices go up 5-6% as predicted, it's even more.
To go beyond "round numbers" and see what it would cost you to buy that real Portland-area house you want today, I can introduce you to a good mortgage broker. Between the two of us, you can see real numbers and real homes for you. Call or text me at 503-505-9722 or @DaveSuttonHomes
Until just a few years ago, 6.0% was a terrific rate. Then we got spoiled with a few months of 30-year fixed rates in the low 3% range.
I get a weekly "rate sheet" from a Portland credit union.
Today's shows a 30-year fixed FHA rate of 3.75% "with limited fees" Because of fees you may be better off with a "conventional" mortgage, quoted there at 4.25% for 30-yr. fixed. Your best home finance information comes from a local mortgage professional. Contact me for a no-obligation referral in Portland. .