By Katie Bain
2015 is shaping up to be another great year for Portland Oregon Home Buyers thanks to historically low mortgage interest rates which are now about 4%, or lower, depending on your lender. The Federal Reserve has indicated that the could have their first rate hike around June and this could affect interest rates, so now is the time to buy.
Looser Lending Standards
Another great thing about 2015 is that many lenders have loosened their lending standards, making it easier for many buyers to qualify for financing and buy homes in Portland and across the United States.
2015 is a far cry from 2008 and 2009 when it seemed difficult to impossible, for many buyers to qualify for financing, but thanks to an improving economy, and job growth, this year is shaping up to be a positive one for home buyers.
How to Get Started With Buying a Portland Oregon Home
If you’ve been thinking about buying a Portland Oregon Home you can get started now on the path to becoming a home buyer by following these simple tips:
Tip 1 – Check your credit: This is an important first step before applying for a mortgage loan.
Tip 2 – Shop around for a mortgage lender: Take your time searching for a mortgage lender since you may be able to qualify for a great rate by speaking with multiple lenders.
Tip 3 – Apply for a loan to see what loan amount you can comfortably qualify for and what the monthly payment will be so that you can target homes in the right price range.
For more tips on how to buy a Portland Oregon Home, or to view the latest listings, contact me, Katie Bain, Realtor ® with EquityPoint Real Estate by calling me at (503) 595-8800 or click here to contact me online.