Affordable Housing have all but Disappeared but here's some Tips on finding and buying a Moderate Priced Home we specialize in:
They say the three most important things to think about when buying a home are location, location, location. You can change almost everything else, but you can't change your home's location.
If lenders review all the information and determine that you are likely to make your mortgage payments in full and on time, you may be able to get better loan terms. The minimum credit score needed for most mortgages is typically around 620.
If you're wondering what percentage you should put down on a house, 20% down is the rule of thumb, but there is no one-size-fits-all figure. For example, some loan programs require a down payment as little as 3% or 5%, and some don't require a down payment at all.
The FHA loan is a great option for first-time home buyers with lower credit scores. This program is backed by the Federal Housing Administration, and it's famous for its more relaxed approach to credit scores and down payments. With an FHA loan, you can put just 3.5% down as long as your credit score is 580 or higher.
A variety of mortgages are available with varying down payment and eligibility requirements. Here are the main categories:
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Contact info:
Call Rick at (503) 901-5923
Location: Portland, OR
Send an email to Rick Safko
Email: rsafko@jjerenterprises.com
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