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.

Act Now To Get Pre-Approval While Rates Are Low

Act Now To Get Pre-Approval While Rates Are Low

Now Is The Time For Home Buyers In Portland To Act

Now Is The Time For Home Buyers In Portland To Act

Stonebridge Mortgage Group is dedicated to helping home buyers in Portland! First time home buyers in the Portland area may find themselves at a loss when looking into purchasing a home. It can be a complex process, especially if you’re not familiar with it. Don’t worry, Portland locals. Stonebridge Mortgage Group is here to help. We are ready to offer Portland locals the information and advice they need in order to make the home buying process easier. Don’t wait to learn what you need to know about home buying in Portland – contact Stonebridge Mortgage Group today! 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.

Mortgage Interest Rates Continue To Be Low In The Portland Area

If you’re looking to buy a home in the Portland area, now is the time to act! Right now in Portland, it is a buyer’s market. Portland home values have declined -0.9% over the past year! The median price of homes currently listed in Portland is $450,000 while the median price of homes that sold is $424,300. Don’t miss out on the amazing deals you can get now when purchasing a home. However, it is important to note that low rates are never guaranteed to stick around. Take advantage of the low mortgage rates while you still can!

Lower Interest Rates Make For Easier Loan Approval For Portland Home Buyers

Did you know that lower interest rates can help some buyers have enough money to qualify for a mortgage that they wouldn’t qualify for otherwise? It can be incredibly difficult to save up enough money and get finances in order to a place where you can be approved for a loan. Some families even stretch themselves too thin to be able to purchase a home – leaving them in a precarious financial situation. However, a lower interest rate can sometimes make the difference between mortgage approval and waiting until some debt is paid off to qualify. With the low-interest rates in Portland, now it is easier not only to afford a home but to be approved for a loan as well!

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Looking To Be Pre-Approved To Buy A Home In Portland? Contact Stonebridge Mortgage Group!

At Stonebridge Mortgage Group, we’re eager to help Portland homebuyers through the pre-approval process! Pre-approval is an important part of the home buying process as it tells you how much of a home you can afford. Generally speaking, you want to aim for a home that is listed at a price less than the total of your pre-approval. Pre-approval helps give Portland home buyers a competitive edge in the home buying market. A pre-approval letter for a mortgage tells sellers that you are serious about seeking out a home. The housing market is extremely competitive, and you need all the edge you can get. Don’t make the mistake of leaving the boring paperwork for later while indulging in the excitement of looking for your Gresham home right away. You don’t want to make an offer against another buyer who has been pre-approved for a mortgage when you have not.

With Stonebridge Mortgage Group, Portland home buyers can get pre-approved over the phone or online! If you have any questions about pre-approval, feel free to contact us or call us. We can help. Once you have the necessary documentation ready, you’re ready to apply online for mortgage pre-approval!

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

 

 

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?

Stone Bridge Mortgage Group_When Is A Good Time To Buy A Home In Gresham And Portland_04

 

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.

 

3 Finance Tips For New Home Owners

3 Finance Tips For New Home Owners

Stone Bridge Mortgage Group_3 Finance Tips For New Home Owners

 

Tips To Help You Prepare For The Financial Responsibility Of Owning Your First Home

Although it is widely known that buying a home is easily one of if not the most important financial responsibilities you can take on in your life, many first time homeowners still underestimate just home much home owning can cost. There are a lot of variables and, depending on your mortgage, monthly payments may be subject to change. Preparation is key when it comes to home-owning. After all, you don’t want to purchase your Portland home only to realize you can’t keep up with the payments. It is better to wait and save until you are sure you are financially comfortable enough for home ownership.

To make sure that Portland locals are prepared for home ownership, Stonebridge Morgage Group offers the following tips:

1. Create A New Budget

Given that your monthly mortgage payment is bound to differ from your previous rent payment, it might seem like a no-brainer that you’ll need to adjust your budget accordingly. However, Portland locals looking to buy a home for the first time will find that there’s more to it than that. You may find that other costs change specifically because you are in a house for the first time, rather than an apartment.

For example, your heating and electricity bills will easily be higher in a 2,000-square-foot house than they were in a small, two-bedroom apartment. Similarly, if you suddenly have a lawn to maintain, you can expect to spend more than you would while renting an apartment. Portland first time home buyers shouldn’t make the mistake of just substituting their new estimated mortgage payment for their previous rent payment. Instead, spend a few months tracking all of your expenses and update your budget to reflect the actual costs of living in your new home. You may come to find that you’re spending more than expected, and you’ll need to make the appropriate adjustments to your budget.

If you’re a first time homebuyer, call Stonebridge Mortgage Group at 503-661-5580

 

2. Be Prepared To Spend Money On Repairs & Maintenance

Portland first time home buyers may well expect to spend some money on maintenance and repairs for their new home. However, it is easy to make the mistake of underestimating just how much you may need to spend. Portland homeowners should expect to spend 1% to 4% of their homes’ value each year on repairs and maintenance.

How much does that add up to? If your Portland home is worth $300,000, expect to shell out anywhere from $3,000 to $12,000 a year on upkeep. Costs can be even higher for larger repair jobs, like a heating system or a roof. Make sure your emergency savings are padded out well so that you have funds to tap if a significant repair pops up unexpectedly. As a homeowner, you should aim for six months’ worth of expenses or more.

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

 

3. Expect Your Property Taxes To Go Up

Your property taxes are based on the assessed value of your home coupled with local tax rates. First time home buyers will be advised of their current property tax liability during the process of home buying. However, it is almost certain that property taxes will rise from that initial number. Even when home values drop, property taxes have a tendency to rise.

Additionally, some localities require property reassessments, which can happen in intervals such as every year, every other year, or every three years. If your home is reassessed at a higher amount, you could see an instant hike in taxes. To protect yourself, leave some wiggle room in your budget. You don’t want to be left struggling to pay your new monthly costs, after all.

Call Stonebridge Mortgage Group for Mortgage Advice at 503-661-5580

 

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!

Call Stonebridge Mortgage Group Today at 503-661-5580

 

 

 

 

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