Stonebridge Mortgage Helps First Time Home Buyers 

Stonebridge Mortgage Helps First Time Home Buyers 

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The People Of Gresham Rely On Stonebridge Mortgage 

Many Gresham locals already know that Stonebridge Mortgage Group offers highquality mortgage-related services. Gresham locals looking to buy a home for the first time should turn to Stonebridge Mortgage Group for experienced and professional service. Are you in need of loan officer services? Perhaps you need mortgage broker services? Stonebridge Mortgage Group offers that and more. We’re eager to help Gresham locals by guiding them through the home buying process. 

Don’t Hesitate To Seek Out The Help You Need Through Stonebridge Mortgage Group 

Many first time home buyers in Gresham find themselves overwhelmed by the process of buying a home, and it’s easy to understand why. There is a lot of information about the home buying process to learn and a lot of costs and fees that you may not be aware of until you’re deep in the process of looking for a home. That’s why Stonebridge Mortgage Group is here to help. 

Stonebridge Mortgage Group Comes Highly Recommended 

Gresham locals can rest assured that our services are backed by the recommendations of our past customers. Stonebridge Mortgage Group’s testimonials are overwhelmingly positive. For example, Steve F. says of our services: 
 
“Overall: excellent. Responsive, knowledgeable, personal attention. In particular, the ability to manage documents electronically is a huge convenience and time-saver.” 

The team at Stonebridge Mortgage Group is ready to use our knowledge about home buying to make the home buying process as easy as possible. Gresham locals, don’t hesitate to make use of our professional and convenient services! 

Stonebridge Mortgage Group offers the best mortgagerelated services! 

What Types Of Services Does Stonebridge Mortgage Group Offer In Gresham? 

Stonebridge Mortgage Group is proud to offer a variety of services in the Gresham area. We want to offer our Gresham clients, especially first time home buyers, all the help they could need to make it through the home buying process. 

Mortgage Brokers And Loans Officers

We’ve mentioned already two of the services we offer that are commonly useful to Gresham first time home buyers – mortgage brokers and loan officers. First time home buyers sometimes have a difficult time telling the two positions apart, though. Here are how mortgage brokers and loan officers differ. 

It is the job of the mortgage broker to negotiate with lenders and your behalf to find loan programs that are most suited to you. Ideally, you want a loan program that has the best rates and terms as well as low closing costs. A mortgage broker is actually a type of mortgage business and can hire on loan officers. Loan officers can work or a mortgage lender, credit union, or a bank. After reviewing your finances, they can recommend a loan for preapproval.  

Real Estate Loans 

Stonebridge Mortgage Group also offers real estate loans. The team at Stonebridge Mortgage Group works with the understanding that the needs of each of our Gresham clients is unique. We take the time to get the full picture of your finances so that we can find the loan that is right for your particular needs 

Reverse Mortgages 

Reverse mortgages, which are only available for homeowners aged 62 and up, are useful for converting a portion of the equity you have in your home to cash so that you can use that cash to help your retirement. We help you consider your options to find out if this is the right choice for you. 

And More! 

Stonebridge Mortgage Group offers other services as well, and we’re eager to help our Gresham customers in any way we can. Don’t wait to call Stonebridge Mortgage Group when you need help with mortgage matters! 

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. 

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.

When Is A Good Time To Buy A Home In Gresham And Portland?

When Is A Good Time To Buy A Home In Gresham And Portland?

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Get Help With Buying A Home In Portland and Gresham

Portland and Gresham locals looking to buy a home can rely on Stonebridge Mortgage Group for expert advice and assistance with all your mortgage needs. Portland and Gresham first time home buyers are often especially in need of professional mortgage advice when looking for their first home. Buying a home can seem overwhelming, but Stonebridge Mortgage Group is here to help. Stonebridge Mortgage Group offers professional assistance to Portland and Gresham first time home buyers and homeowners. Whether you’re looking for loan officer services, mortgage broker services, help with reverse mortgages, or if you’re in need of a real estate loan, Stonebridge Mortgage Group can help you.

When Is The Best Time To Buy A Home In Gresham And Portland?

Portland and Gresham locals looking to buy homes are in for good news! Now is a great time to purchase a home in Portland or Gresham.

Last time we talked to you about the low rates on the Gresham mortgage market. While Gresham benefited from a dip in mortgage costs in September, it seems rates are on the rise again. However, now is still the best time to purchase a home in Gresham! Gresham home buyers should take advantage of current low rates in Gresham, as predictions seem to indicate that rates will rise through the tail end of the year. With the current low rates, the median home value in Gresham is $343,600. Gresham home values have gone up 3.0% over the past year. However, while Gresham mortgage rates are still on the rise, those looking to buy a home in Gresham will be pleased to know that prices are lower in Gresham than in the Portland metro areas. The median list price per square foot in Gresham is $205, which is lower than the Portland-Vancouver-Hillsboro Metro average of $232. The median price of homes currently listed in Gresham is $359,900 while the median price of homes that sold is $339,800.

 

For More Mortgage Tips Call Stonebridge Mortgage Group at 503-661-5580

 

Looking to buy a home in Portland? Now is a better time than ever. Portland is currently experiencing low rates in the housing market. Current, the Portland market is a buyer’s market! A buyer’s market is always the best time for Portland home buyers to be looking for a home. Take advantage of these Portland low rates while they last! The median home value in Portland is $416,400. Portland home values have declined -2.0% over the past year. That is an amazing change in the housing market in favor of homebuyers, leading to the current buyer’s market low rates on homes in Portland. The median list price per square foot in Portland is $290. The median price of homes currently listed in Portland is $459,900 while the median price of homes that sold is $424,300.

Don’t Miss Out On Low Rates In Gresham And Portland!

Portland and Gresham home buyers should always remember that the housing market, and thus mortgage rates, can be fickle. Low rates are never guaranteed to stay, so taking advantage of low rates and a buyer’s market when you can is highly advisable. If you’re currently in the process of buying a home with low rates, consider locking in your rate with your lender to protect yourself against an unsuspected sudden rise in mortgage rates. Remember, when you need help with mortgage matters in Portland or Gresham you can always rely on Stonebridge Mortgage Group! At Stonebridge Mortgage Group, we are proud to help Gresham and Portland locals. With our expert services and advice, we can help you get the best deals possible on your home. Take advantage of low rates now! Call Stonebridge Mortgage Group today!

Stonebridge Mortgage Group Offers Guidance On All Mortgage Matters

Stonebridge Mortgage Group offers experienced loan officer and mortgage broker services in Gresham. You can rely on Stonebridge Mortgage Group to help guide you through every step of the home buying process. We help get you pre-approved for a mortgage, assist with real estate loans, and provide mortgage solutions — both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and is located in Gresham, Oregon. If you’re ready to buy your first home, we’re ready to help you get there.

Call us today at 503.661.5580

 

 

Low Mortgage Rates Means Its A Perfect Time To Buy Or Refinance In Gresham

Low Mortgage Rates Means Its A Perfect Time To Buy Or Refinance In Gresham

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Stonebridge Mortgage Group Offers Professional Mortgage Advice And Assistance

At Stonebridge Mortgage Group, we are dedicated to helping families who are looking to buy their first Gresham home. There are a lot of factors to consider as you start the home buying process, especially if you are considering buying a home for the first time. Stonebridge Mortgage Group offers professional assistance and advice to Gresham first time home buyers and homeowners looking to refinance. Whether you’re looking for loan officer services, mortgage broker services, help with reverse mortgages, or are in need of a real estate loan, Stonebridge Mortgage Group can help you every step of the way.

The Best Time To Buy A Home In Gresham Is Now — While Rates Are Low

If you’re been keeping your eye on local mortgage rates, you will have noticed that September saw a decrease in mortgage rates for homebuyers in the Gresham area. Since about halfway through 2017, mortgage rates in Oregon have steadily crept higher and higher, making the recent drop in mortgage rates an unexpected but welcome surprise for those looking to buy or refinance homes in Gresham and Portland.

Although it seems that interest rates aren’t likely to rise again during October, Gresham home buyers should not wait to take advantage of the newly occurring low mortgage rates. After all, the real estate market is very finicky. These low rates aren’t guaranteed to stick around forever! In fact, the rates could rise very quickly. Now is the best time to lock in rates if you’re buying a new home or refinance a home you already own in Gresham.

Locking In An Interest Rate With Your Lender

Gresham home buyers, if you’re in the process of buying a home, considering locking in your interest rate now. Getting a mortgage rate lock now can mean you still save even if rates start to rise again. What is a mortgage rate lock?

A mortgage rate lock is an agreement between a borrower and a lender that allows the borrower to lock in the interest rate on a mortgage for a specified time period at the prevailing market interest rate. A loan lock provides the borrower with protection against a rise in interest rates during the lock period. The interest rate is locked for the period from the offer of the loan to its closing. The rate will stay consistent, regardless of market changes, as long as there are no changes to the application for the loan during the closing period. If there is new or corrected information on the borrower’s income or credit score, or if the loan amount changes, these could affect the interest rate regardless. Furthermore, if the borrower changes the type of mortgage they are seeking or if the appraisal of the home is lower or higher than anticipated, the interest rate may change. Some rate locks will also grant a float-down provision that will allow the borrower to take advantage of lower rates in the market as they occur, while still protecting from increases. If you are looking for homes in the Gresham area, talk to your lender about locking in your mortgage rate while rates are low.

 

For More Mortgage Tips Call Stonebridge Mortgage Group at 503-661-5580

 

Refinancing Your Home For Lower Mortgage Rates

One of the most common reasons people choose to refinance their homes in the Gresham area is to secure lower interest rates. Generally speaking, the rule of thumb is that refinancing is a good idea if you can reduce your interest rate by at least 2%. However, many lenders say 1% savings is enough of an incentive to refinance. When interest rates drop, Gresham homeowners should consider refinancing to shorten the term of their mortgage and pay significantly less in interest payments. With the current low mortgage rates in Gresham, Gresham homeowners should definitely look into refinancing their homes.

Stonebridge Mortgage Group Offers Guidance On All Mortgage Matters

Stonebridge Mortgage Group offers experienced loan officer and mortgage broker services in Gresham. You can rely on Stonebridge Mortgage Group to help guide you through every step of the home buying process. We help get you pre-approved for a mortgage, assist with real estate loans, and provide mortgage solutions — both residential and commercial. Stonebridge Mortgage Group serves the greater Portland area and is located in Gresham, Oregon. If you’re ready to buy your first home, we’re ready to help you get there.

Call us today at 503.661.5580

 

 

Important Information to Understand

  1. At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds.
  2. Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees.
  3. The loan balance grows over time and interest is charged on the outstanding balance.
  4. The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home.
  5. Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full repayment.

 

The Difference Between Pre-Qualification and Pre-Approval, Part One

The Difference Between Pre-Qualification and Pre-Approval, Part One

Stone Bridge Mortgage Group_The Difference Between Pre-Qualification and Pre-Approval

Stonebridge Mortgage Group aims to help Portland home buyers to understand the intricacies of buying a home. First time Portland home buyers might be understandably confused by all of the different terms and phrases used in various points of the process of buying a home. For example, the terms pre-qualification and pre-approval are often used interchangeably when seeking out information about mortgages. However, they are not the same.

Our last post explains the specifics of a getting pre-qualified for a mortgage. Now, Stonebridge Mortgage Group will explain the details of getting pre-approved for a mortgage.

Mortgage Pre-Approval

Mortgage pre-approval comes after mortgage pre-qualification. The process of getting pre-approved for a mortgage is much more involved. While a pre-qualification acts as a good indication of creditworthiness and the ability to borrow, a pre-approval acts as more definitive proof.

In order to get pre-approved for a mortgage, you must complete an official mortgage application and you must supply the lender with all the necessary documentation to perform an extensive check on your financial background and current credit rating. The lender will then review your finances, and can pre-approve you for a mortgage up to a specified amount. The interest rate you’ll be charged on the loan is based in part on your credit score, so this is when you’ll get a better idea of what that interest rate may be. You might even be able to lock in an interest rate. Some lenders charge an application fee for pre-approval, which can amount to several hundred dollars.

After you are pre-approved for a mortgage, your lender will provide you with a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. This gives Portland home buyers an advantage with the seller because the seller will know they are one step closer to getting an actual mortgage.

How Pre-Qualifications and Pre-Approvals Differ

The following is a brief comparison to show how a pre-qualification and a pre-approval differ:

 

Pre-qualification

Pre-approval

1. Do I need to fill out a mortgage application?

No

Yes

2. Do I have to pay an application fee?

No

Maybe

3. Does it require a credit history check?

No

Yes

4. Is it based on a review of my finances?

No

Yes

5. Does it require an estimate of my down payment?

No

Yes

6. Will the lender give me an estimate for a loan amount?

Yes

No

7. Will the lender give me an estimate for a loan amount?

Yes

No

8. Will the lender give me interest rate information?

No

Yes

For more information on pre-qualifications and pre-approvals read, The Difference Between Pre-Qualification and Pre-Approval, Part Two, where Stonebridge Mortgage Group walks Portland first time home buyers through the specifics of what it means to get pre-qualified for a mortgage loan.

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 us today at 503.661.5580

 

How To Shop Around For A Mortgage, Part Two

How To Shop Around For A Mortgage, Part Two

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Gresham first-time home buyers may feel daunted with all that the information that comes along with buying a home. However, Gresham home buyers shouldn’t feel overwhelmed. By carefully educating themselves, they can ensure that they get the best experience when shopping for a home. Stonebridge Mortgage Group is eager to help our Gresham clients understand the ins and outs of mortgage.

Keep in mind that shopping around for your mortgage is important. Just like you wouldn’t settle on the first house you saw, you shouldn’t settle on the first mortgage you discuss with one lender. Shop around and do your research to find a mortgage that truly works for you.

To aid in shopping for your mortgage, here are a few more terms you should know about when shopping for a mortgage:

Interest Rates

To make sure your mortgage is affordable, it is crucial to get the best interest rate possible. Do your research to find out what the latest mortgage interest rates is before seeking out a mortgage lender. This means you will know what to expect and prepares you for potential negotiations. For example, if you know that the national interest rate average is around 4.5% in the morning and a particular lender offers you 5%, you know you have room to negotiate. Get quotes from at least four lenders to compare your options, but make sure you are comparing rates on the same types of loan.

Points

When speaking to potential lenders, ask about how many points you will have to pay to obtain the specific interest rate. Mortgage points are pre-paid interest. One point equals 1% of the loan amount. The more points you pay upfront, the lower your loan’s interest rate. This can be beneficial for Gresham home buyers in the long run.

Annual Percentage Rate (APR)

Although some people use “APR” and “interest rate” interchangeably, your APR is something very specific. Your Annual Percentage Rate shows the true cost of obtaining a loan, including points, the interest rate, broker fees, and any other charges. Ideally, Gresham home buyers want to aim for an APR that is as low as possible, because a lower APR means you are getting a better deal.

After taking into consideration the type of loan, interest rate, repayment terms, and APR Gresham home buyers can sit down and make the choice about which loan is best.

Locking In Your Rate

The next step for Gresham home buyers, after finding a mortgage loan that suits them and receiving preapproval, is to ask the lender to lock in the interest rate and provide you with a document in writing that states the interest rate you locked in, the number of points you must pay, and how long the interest rate will be locked in before the offer expires.

This is a way to secure your mortgage being what you need it to be. Locking in an interest rate means that even if interest rates rise within the specified time that you were guaranteed, you can still option a mortgage loan for the lower rate that you locked in. However, this can also work the other way. Should the interest rate lower within that time, you could be stuck with a higher rate. All things considered, though, it is generally a wise idea if to lock in your interest rate if you are serious about purchasing a home soon.

After all of the above, it is time to shop around. There are a variety of ways to shop around for a mortgage in today’s market – whether it be by going to an independent mortgage broker, calling local banks and credit unions, or shopping online. Carefully consider your options before committing. If you have any questions about mortgages, you can always rely on Stonebridge Mortgage Group for help.

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 us today at 503.661.5580