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Buy a Home in Portland and its Surrounding Areas Imagine buying your dream home. Let our experienced staff help you make it happen.

If you’re a first-time home buyer or looking to upgrade to your dream home, there are 10 steps you should complete:

  1. How much of a home you can afford.
    • Figure out how much money you make and how much you’re able to use for your new home. A good rule of thumb is that your new home’s value should be equal to between two to three times your gross incomes.
  2. Create a Wishlist.
    • Number of bedrooms, and four baths with hardwood floors throughout? A backyard big enough for pool and swing set? Does it have a pool already? One story or two stories? You’ll want to prioritize your list. Write down what’s the most important to the least. Do you really need or just want a fourth garage?
  3. Look Around.
    • Drive through neighborhoods that seem appealing do you and your family. Do you like the way the homes are maintained? Are the neighborhoods close to school and work? Find out the neighborhood statistics like crime rates. Find out about future developments (including road expansions) planned for the area. We can point you in the right direction to find that information.
  4. Do you have enough money saved?
    • Determine if you have enough money to cover your down payment and closing costs. Depending on the type of mortgage you get, your down payment could be anywhere from 3% to 20% of the purchase price of the home. Plus, you’ll have to pay closing costs which typically run 2-3% of the loan amount, though many mortgage lenders will wrap those closing costs into the loan.
  5. Check your credit.
    • Make sure your credit is up-to-date and accurate. Get a copy of your credit report and go over every section of your credit history. Does your report say that you’re delinquent on a credit card when you actually paid it off? It can mean the difference in several points in your mortgage interest rate, which can mean a higher monthly mortgage payment.
  6. What size mortgage do you qualify for?
    • After you have checked your credit report and had any errors corrected, you can approach a few lenders for a mortgage pre-approval, it pays to shop around. Explore all the different loan options, arms and fixed rates, 15-year and 30-year. We work with lenders that want to work with YOU! They try to find the best programs for your needs.
  7. Get all of your documents in order.
    • You will want to get pre-approved for a mortgage before you start looking at homes, have all of your necessary paperwork ready for your lender. The documents you’ll need to get started are:
      • Pay Stubs – 2 months
      • Bank Account Statements – 3 months
      • Tax Returns – 3 years
  8. Research if you qualify for any federal mortgage or down payment assistance programs.
    • You may be surprised how the government may be able to help you buy your new home. There are specific restrictions with some programs, but the potential savings make them worth looking into. Your lender and ourselves can help you find programs that you may qualify for.
  9. Calculate how much it will cost you to own and maintain your home.
    • Some regular expenses to think about, other than your mortgage are:
      • Property Taxes
      • Homeowner’s Insurance
      • Home Maintenance Costs (Landscaping, Pool/Spa, Air Conditioning)
      • HOA Fees (If Applicable)
  10. Find an experienced real estate agent. That’s where we come in!

Keep these few things in mind while preparing to purchase:

  • No major purchases of any kind
  • Do not move money around
  • Do not change jobs
  • Do not allow your credit card to be pulled by multiple institutions!!!!
  • Make deposits like you normally would – do not keep your money for the home under your mattress at home
  • If you don’t have a bank account, strongly consider opening one.

Now that you are ready…



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