If you are a first time home buyer there are many programs that you may qualify for. Oregon is a green state not just physically, but also when it comes to awareness of our environmental footprint. Many lenders working with the state and federal government have programs in place to help make homes more energy efficient with great discounts to you.
It is worth your time to investigate the loan process and with the help of a quaity lender, determine the best course of action for you and your family.
if you would like some referrals to some great lenders, please feel free to contact me.
I just recently helped clients in this situation. It is all going to depend on your financial stance. Most loan officers would view this as a second home. This is such a great City to live in! All of my clients who have made the move from Ca to Or have been happy! Good luck!
The majority of real estate agents aren't qualified to answer this question with certainty. Why? Because as licensed real estate agents we need to stick to what we know ... real estate. We don't "approve" borrowers in their home purchase plans. While we may know "of" the loan process, the best answer (IMHO) would be to suggest that you contact a lender who can talk to you directly about your plans. Your best bet is to talk directly with a loan officer who writes loan in Oregon. They can talk to you about what the are looking for -- more importantly -- what the underwriter will be looking for when they review your application for a home loan. They will look at what you are planning to do and give you the answers you need to make an informed decision.
That said, once you're working with a lender and know how much you're approved for with a loan, you can then determine if that amount will be feasible in finding a property here and where. And that's when you should talk to a real estate agent. You first want to know what your loan rates and terms are, then talk with a real estate agent about the other prong of a relocation move: Neighborhoods, areas, lifestyle, commute, schools, price points. identifying suitable properties, etc.
You also want to make sure you work with an agent familiar with the areas here in Metro Portland and who has a strong track record with relocation clients.
If you need a referral, or two, to local loan officers, please don't hesitate to contact me. That really ought to be your first step: finding a loan officer who can answer your questions with accuracy. Because we're real estate agents, not loan officers. :-)
Carla Muss-Jacobs, Principal Broker/Owner
EBA Portland, LLC
Exclusive Buyers Agent since 1999
If I can be of any other help, please let me know. All the best.
Your zipcode looks very familiar, somewhere in the San Fernando Valley. I grew up in Northridge and then moved to Portland almost 10 years ago...Best decision ever!
If you fit all of the criteria that it takes to get a home loan, then you should have no problem purchasing a home. A Mortgage Broker can let you know and if you qualify, can get you a pre-approval letter with and give you a good idea of what your monthly payments would look like. I created this site for people relocating to Portland Oregon: http://RelocationToPortland.com It will have every aspect of what you look for in a Portland relocation website as your personal resource.
Have you found an ideal neighborhood that fits your lifestyle? this link will help guide you through the many diverse and charming neighborhoods that Portland has to offer.
Hope this helps. You are welcome to contact me for more great advice for the pending relocation and home purchase, as well as referrals to some of the best Mortgage Brokers in the industry.
Generally, if you are transferring for a job and the job is either with the same organization or with a different organization but in the same or an advanced position then you should be fine so long as you otherwise qualify.
Email me for a short list of mortgage brokers who really know the business. I was in the mortgage business for 28 years and know almost all brokers left in the undustry---probably 90% are now gone nationwide. Two in particular here get 100% of my referral, I would use them myself. I respect their privacy and wont just post them here, even though it could give them a referral.
Having lived all over the country and experienced with the relocation process, and growing up in the Portland area, I've been successfully helping families move to Portland for several years. I have services set up to help, so if you're interested please give me a call or email. My contact info is available through my profile. Best to you in your adventure of moving to a new place!