Why You Should Buy Investment Properties Now

Why You Should Buy Investment Properties Now

Why You Should Buy Investment Properties Now

Stonebridge Mortgage Group Helps With All Your Mortgage Related Services

If you live in the Portland, OR area and are looking for help with buying a home or investment property, Stonebridge Mortgage is here for you. Portland locals in need of who are looking to be preapproved for a home, who are in need of a mortgage broker’s services, or who are looking for a loan officer will find the high-quality services they need with Stonebridge Mortgage Group.

Whether you’re looking to by a Portland home or thinking of purchasing an investment property, Stonebridge Mortgage Group is dedicated to helping Portland locals understand the ins and outs of home buying. An important aspect to consider when buying any property is if the numbers are on your side. For example, Portland locals should look into if interest rates are higher or lower than usual before buying a property.

What Is A Mortgage Interest Rate?

Your interest rate when buying a property is what it costs to borrow the principal loan amount for your Portland property. The interest rate and principal balance left to pay on the property together determine what your monthly payment will be. Securing a property when the interest rate is low will ultimately make the purchase of said property cheaper for you.

Stonebridge Mortgage Group offers the best mortgage-related services!

Interest Rates In Portland Are Downs

Interest rates in Portland are currently low, and it looks to stay that way as we go further into April. Portland locals should take advantage of these all-time low-interest rates while they can, especially if they are interested in buying an investment property!

What Is An Investment Property?

When one purchases a property as an investment rather than a personal home, one hopes to earn a return on the investment of that property. Most accomplish earning a profit on an investment property by becoming a landlord and renting the property out or improving the property to benefit from selling it in the future. With interest rates at an all-time low, now is the best time for Portland locals to consider purchasing investment properties. Stonebridge Mortgage Group is eager to help people in Portland and the areas surrounding as they consider investing in properties.

Current April Interest Rate Predictions

Currently, it looks as though interest in April rates will average at approximately 3.7%, but we encourage Portland locals to keep an eye on things as we go further into the month of April.

Call Stonebridge Mortgage Group To Get Pre-Approved

If you’re looking into buying an investment property in Portland or the areas surrounding, don’t forget to get pre-approved! Getting pre-approved to buy a home or property should be one of the first things you do when you’re considering investing in property. Having a pre-approval shows that you are serious about purchasing a property.

After pre-approval, Portland locals will have a better idea of how much they can borrow. Your offer will be more competitive because sellers will know that your current financial situation has been reviewed by a lender, and approved you for the home-buying process. Additionally, pre-approval will let you know if there are any potential issues you need to smooth out before getting pre-approved, and thus buying a home.

Get Pre-Approved For Free With Stonebridge Mortgage Group

Stonebridge Morgage Group offers free pre-approval services to our Portland clients! Don’t wait to get pre-approved. With pre-approval, you will be better prepared to find a home that suits your needs and is within your budget. Stonebridge Mortgage group advises against looking for homes before pre-approval. There’s are few things worse than falling in love with a home you can’t afford, after all. Call today for free pre-approval! Call us at 503-254-9779, or submit an application for pre-approval online.

Stonebridge Mortgage Group Offers Guidance On All Mortgage Matters

For professional assistance with mortgages and related services, look no further than Stonebridge Mortgage Group. You can rely on Stonebridge Mortgage Group to help guide you through the home buying process. We help get you pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and is located in Gresham, Oregon. Don’t wait to get quality assistance with buying your home! Call Stonebridge Mortgage Group today at 503-661-5580.

Home Buying Made Easier in Gresham with Maximum Loan Increases for Freddie and Fannie

Home Buying Made Easier in Gresham with Maximum Loan Increases for Freddie and Fannie

Stone Bridge Mortgage Group_Fannie Mae and Freddie Mac New Conforming Loan Limits for 2019

Federal Housing Finance Agency Raises Freddie Mac and Fannie Mae Maximum Loans For Third Consecutive Year

Gresham first time home buyers in need of a larger loan may find themselves in luck if they qualify for Fannie Mae and Freddie Mac loans. After a long period of maintaining the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac, the FHFA has decided to increase the loan limits. For 2006 to 2016, the FHFA did not opt to increase loan limits. This year, 2019, will make the third year of increasing loan limits for Fannie Mae and Freddie Mac loans.

Gresham Home Prices Are On The Rise

The original conforming loan limits for Fannie Mae and Freddie Mac were determined by the Housing and Economic Recovery Act of 2008. This act established the baseline loan limit at $417,000. Additionally, it was decided that, after a period of price declines, the baseline loan limit would not be allowed to rise again until home prices return to pre-decline levels. So why the change over the past three years?

Home prices across the country, and in Gresham, are on the rise. According to the FHFA’s third quarter 2018 House Price Index report, home prices increased 6.9%, on average, between the third quarters of 2017 and 2018. The maximum conforming loan limit in 2019 is, therefore, rising to match – from $453,100 to $484,350.

Gresham Home Buyers Will Be Able to Keep Up With Increased Home Prices

The increased conforming loan limit on Freddie Mac and Fannie Mae is good news for the Gresham home buyers. Those looking to buy a home in Gresham will more easily be able to keep up with price increases when the maximum loans they qualify are higher.

Looking For Help With Mortgage Services? You Can Rely On Stonebridge Mortgage Group!

For professional assistance with mortgages and related services, look no further than Stonebridge Mortgage Group. You can rely on Stonebridge Mortgage Group to help guide you through the home buying process. We help get you pre-approved for a mortgage, and offer services for real estate loans and other mortgage solutions, both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and is located in Gresham, Oregon. Call us today for personal mortgage solutions to your home buying journey.

 

Call us today at 503.661.5580

 

Tips for Buying a Home in Spring

Tips for Buying a Home in Spring

Stone Bridge Mortgage Group_How Long Should it Take to Save for a Down Payment

The timing of the spring home buying market will change depending on where you live, but one thing stays the same — the spring housing market is extremely competitive. If you’re planning on buying a home in spring, you need to be well-prepared beforehand. Know what you want, what your budget is, what you’re willing to compromise on, and what you’re not. You likely won’t have the luxury of sleeping on a decision in the spring home buying market. Be decisive and prepared to make an offer quickly.

If you’re set on buying a home in spring, here are some helpful tips:

Get preapproved by a local lender. The best competitive choice is to make sure you’re backed by a local bank of local mortgage broker. If your offer comes with a local lender’s preapproval letter, it will probably get preference among other applicants.

Focus on the house, don’t focus on the owner. It can be easy to get caught up on how the home is being sold – if it’s a foreclosure, a short sale, or owned by a traditional seller. What you need to focus on is if the house meets your needs, if it’s in an optimal location, and if it meets your budget.

Hire on a neighborhood specialist. All real estate agents have their areas of expertise. If you hire an agent who specializes in the area where you want to buy, you’ll be provided with incredibly useful information about that neighborhood. Additionally, a real estate agent who specializes in the neighborhood you’re looking in will likely be well known and respected among the area specialist listing agents. This works entirely in your favor.

Be prepared to pay the list price. Get a Comparable Market Analysis from your real estate agent to determine the actual value of the home. Keep in mind that sellers can ask for whatever they want, so you can’t judge the worth of a home based on other homes on the market. If you find a home that you want at a price you can afford, go for it. In the grand scheme of things, whether you pay $1000 more or less makes little to know difference and you likely won’t care a few years down the road.

Give the seller something other buyers will not. Make your offer stand out. You can negotiate about things other than price, and give your seller something beneficial to them without actually waiving your rights. Ask your agent for advice on this. For example, something as little as giving the sellers an extra day to move out can make your offer more appealing.

Allow Stonebridge Mortgage Group to assist with your search to buy a home. For a professional assistance with mortgages and related services, look no further than Stonebridge Mortgage Group. You can rely on Stonebridge Mortgage Group to help guide you through the home buying process. We help get you pre-approved for a mortgage and help with your real estate loans and other mortgage solutions, both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and are in Gresham, Oregon. Don’t wait to get quality assistance with buying your home!

 

Call 503.661.5580 now to get started on your new home!

 

2019 Trends for Home Buyers

2019 Trends for Home Buyers

Stone Bridge Mortgage Group_2019 Trends for Home Buyers

What Home Buyers Can Expect in 2019

The home buying market is ever-changing. To entirely predict the state of any market is impossible. However, those who are tapped into the market can still get a very good idea of what it will look like in the future. The economic team at realtor.com, for example, is uniquely positioned to gather and analyze a wealth of housing data in order to come up with a 2019 forecast for the home buyer’s market. Here are some key takeaways from this forecast for those looking to buy a home in 2019.

Increased number of homes for sale – particularly luxury homes. Although homes have been hitting the market over the past few years, it hasn’t been enough to keep up with demand. Last winter the nationwide inventory of homes actually hit its lowest level in recorded history, but over the past year the market has gradually recovered. Growth is expected to continue into the next year at a rate of about 7%. However, most of the growth is expected to come from listings of luxury homes, which are, of course, pricier.

It will still be difficult to afford a home. Although there will be more homes on the market, both mortgage rates and home prices are expected to increase. Mortgage rates, currently sitting at 5%, are expected to increase to 5.5% by year’s end. This means the monthly mortgage payment on a typical home listing will be about 8% higher next year.

If you’re looking to buy a home for the first time in 2019, be prepared to buckle down and save as much as you can. Get your credit score in order, check out the best loan plans for you, and don’t rush the home buying process.

 

If you have more questions about the particulars of home buying, then you can rely on Stonebridge Mortgage Group to help guide you through the home buying process. We help get you pre-approved for a mortgage and assist you with your real estate loan and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are located in Gresham, Oregon.

 

Call us today at 503.661.5580

 

 

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