Mortgage tips answering the most frequently asked questions about mortgages in Portland Oregon:⁣

Q: How long is a pre-approval good for?⁣

A: You definitely will want to get a pre-approval, but wait until you’re ready to buy since a pre-approval is only valid for about 30-90 days. ⁣⁣

Q: How much should my down payment be?⁣

A: Twenty percent is the gold standard, but you can often put down less than depending on the loan type. For example, an FHA loan requires as little as 3.5% down.⁣⁣

Q: What are the different types of mortgage loans?⁣

A: All sorts! You have conventional, FHA, VA, USDA, and more! Talk with several lenders to gather their opinions before deciding which is right for you. ⁣

Q: How much home can I afford?⁣

A: A good rule of thumb? Two-and-a-half times your annual salary. But it’s best to speak with a lender to find out what you qualify for and to get a pre-approval letter.⁣⁣

Got more questions? Shoot me a message or drop it in the comments. I’d love to chat and point you in the right direction as you think about buying.⁣

If you would like to read more about buying a home in Portland or get more mortgage tips, you can check out a couple more of our blogs:

Is buying a home in Portland a Good Investment?

What you should not do when buying a home.

What is an exclusive Buyers Agent?

Here’s an extra mortgage tip:

A lender’s request to review your credit report counts as a “hard inquiry.” Hard inquiries can lower your credit score if they’re a result of trying to open a bunch of new credit lines in a short time. But multiple hard inquiries as a result of rate shopping for a home loan generally don’t hurt your credit score.

FICO, one of the largest credit scoring companies, recommends confining rate shopping to a relatively narrow period, such as 30 days.

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Having an agent that focuses on fiduciary vs functionary representation is a game changer in buying real estate. ~ Anne Stewart

Helping home Buyers in the following counties: Multnomah, Washington, Clackamas, Yamhill and Marion

Realtor License 200012088

Anne Stewart – Principal Broker/Oregon Licensed ABR, GRI, CRS, e-PRO
Stewart Real Estate Group

Powered by Stewart Real Estate Group at eXp Realty LLC

Buyer Focused — Buyer Results

Anne Stewart-Principal Broker, operates an elite team of real estate professionals designed to focus on Buyer Representation

Resulting in superior customer care and exemplary client services.  

Moving to Portland and need to get acclimated?  Want to see a home that checks all the boxes?  Our level of Buyer Agency and Buyer Representation is what you need in a real estate professional!  We help you navigate the home buying process step-by-step with care, attention to detail and professionalism that is not easily found in the real estate industry.

The Stewart Real Estate Group at eXp Realty LLC are a team of experts in buyer representation.  And that’s what you want!

We are here to represent your best interests in the purchase of real estate.  Relocation, Residential, new construction, Land/Lots, condos/townhomes, Move up/Move down,

Since 2001, our team has over six decades of combined experience.  Have a real estate agent whose real estate practice has PROVEN RESULTS!

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