First Time Home Buyers in Portland Oregon | Vince Kingston

Portland Oregon Mortgage Officer | Vince Kingston

First time home buyers in Portland Oregon

Portland Oregon Mortgage Officer is MCC Tax Credit Mortgage Credit Certified. The MCC Tax Credit is the most valuable tax credit available in the country. For eligible buyers purchasing in the Portland City limits, it offers an ongoing tax credit that never expires as long as you remain in the home & the loan. Don’t miss out on this most valuable homebuyer tax credit.

Portland Oregon Mortgage Officer is NHF Cash Grant certified. The NHF cash grant program can provide up to 5% cash grant to cover down payment and closing costs. Depending on the type of financing it is combined with this can cover all of your down payment and more. The NHF is for any eligible borrower buying a primary residence. This program is NOT limited to first time homebuyers.

Portland Oregon Mortgage Officer is certified in the Portland Oregon Bond which provides eligible borrowers a deeply below market interest rate subsidized by the State of Oregon. In addition, the interest rate is not credit score sensitive so it could be the perfect solution for many eligible homebuyers.

Portland Oregon Mortgage Officer is MAP 80 certified which is 100% Financing MAP 80 100% Financing – combining a community funded second mortgage with a Conventional first mortgage, this loan allows eligible borrowers to eliminate mortgage insurance and, when combined with the Oregon Bond, potentially secure a deeply below market interest rate.

Rehab financing allows you to purchase your home plus finance the cost of all renovations and upgrades with very little down payment and all on one 30 year fixed loan. In addition, rehab financing can allow you to purchase home potentially deeply under market. Not all homes will qualify for financing. If a home has structural and/or foundational information a borrower may not be able to secure a normal home loan on the property…except with Renovation financing. Since these homes are usually sold at a discount, rehab financing can help you score a great deal on your new home purchase while also financing the cost of upgrades.

In Portland Oregon there are two broad types of rehab loans: AN FHA based option called 203K, and a Conventional based option called Homestyle. Homestyle can be a much better option for borrowers with good credit and/or at least a 5% down payment as it avoids the 1.75% upfront funding on fee on all FHA loans, including FHA 203K rehab loans. Homestyle can also be used to financing true stand-alone accessory dwelling units, while 203K only allows attached accessory dwelling units.

Veterans Financing For eligible active duty, Reservist, and retired military, VA financing offers one of the best home loan options available. Requiring no money down and no mortgage insurance, VA loans provide a great no down payment & low mortgage payment option. It can even be used to purchase owner occupied 2-4 unit properties. Lastly, VA financing allows VA is also very lenient on past credit issues such as foreclosures, short sales, and bankruptcies and
allows rental credits to be used to increase qualifying ability on 2-4 unit properties.

USDA Financing USDA loans provide 100% financing on homes located in designated rural areas. USDA home loans can also be combined with the Oregon Bond loan, that provides a deeply below market interest rate for eligible borrowers.

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