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Home Buying in Hillsboro : Real Estate Advice

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  • Local Info9
  • Home Buying20
  • Home Selling6
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Activity 43
Mon May 8, 2017
Gyuhyonlee asked:
Hi,
I just accepted an offer to work at Intel in Hillsboro Oregon (~120k/yr) starting in July and I have an excellent credit (740 score, 4~5 year history, history of paying off car loan…
0 votes 0 Answers Share Flag
Mon Mar 6, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

You would need to live in the home over 50% of the year and consider it your primary residence.

If you have any other questions or would like help with this you are welcome to get in touch with me. ... more
0 votes 1 answer Share Flag
Tue Mar 8, 2016
Me answered:
I live in Georgia in a home that I co-own. It has not mortgage. I have restored my VA eligibility and would like to buy a second home in Florida. I would split my time between the two. It would be in my name only. Would this be considered a vacation by VA or would I be eligible? ... more
0 votes 8 answers Share Flag
Mon Apr 13, 2015
Gerald Vonberger answered:
It depends quite a bit on what type of coverage you include in your policy and what type you don't. It's definitely a good idea to check with a few insurance companies to compare prices too. If it's your first home, you might not need as much coverage, but your insurance agent will know better than me what you'll need. Just make sure you are getting enough coverage and not cutting corners on your policy. http://southernfamilyinsurance.com ... more
0 votes 1 answer Share Flag
Tue Jan 27, 2015
bobowha answered:
HAHAHAHAHA Space to run around in Hillsboro. Let me introduce you to our evil nemisis, the dastadly Urban Growth Boundary. Makes yards nearly nonexistent and home COMPLETELY UNAFFORDABLE. You're lucky to find a single family home under $350,000 here. Hillsboro is severely lacking in housing. ... more
0 votes 12 answers Share Flag
Thu Jan 15, 2015
Jason and Michelle Merritt answered:
If you need to finance your purchase, it is unlikely that your lender will loan against the condo while it is in litigation. However, if you are a cash buyer, it is an ideal time to buy because a home that cannot be financed looses significant value because the buyer pool is depleted by about 75%. You can usually get a "cash only" type purchase for 25 to 30% under market value of what the home would be worth if not in litigation. Great investment if you can buy with cash funds and hold for a couple years while the community value recovers. ... more
0 votes 7 answers Share Flag
Wed Jan 7, 2015
Tim Moore answered:
Find the link on the page named MORE, there will be a drop down menu with FLAG - click it.
0 votes 1 answer Share Flag
Thu Oct 2, 2014
Alan Archer answered:
As long as you have not used your VA loan guaranty benefits, and you are going to occupy the house that you will be purchasing with them, they are available. Contact your nearest VARO for further details and to get your application going.

On the question about the rules regarding FHA loans, I do not know if you may rent the home out. You may want to re-finance it with a conventional lender and save the FHA mortgage insurance payment every month if you have enough equity. Depending on your interest rate and what sort of a deal you get, may have smaller payments every month - and thus higher cash flow!
... more
0 votes 1 answer Share Flag
Fri May 2, 2014
Kevin Richey answered:
That could be a little tricky. You will want to speak with your attorney, to make sure that will work.
0 votes 7 answers Share Flag
Fri May 2, 2014
Jennifer Peterson answered:
It means only a cash buyer can buy the property, but sometimes private money loans will work as well. Ask your Realtor to check specifically about the properties you are interested in. Call/text us for more details.

Jennifer Peterson and Mandy Lewis
http://www.PDXRockstars.com
503-888-3180
503-522-5803
Keller Williams
... more
0 votes 10 answers Share Flag
Fri May 2, 2014
Jennifer Peterson answered:
There is a new program where you can get 5% of the sales price FREE to you to use for your down payment or closing costs! Call/text us for more details.

Jennifer Peterson and Mandy Lewis
http://www.PDXRockstars.com
503-888-3180
503-522-5803
Keller Williams
... more
0 votes 9 answers Share Flag
Mon Apr 29, 2013
Trevor Curran answered:
Good evening joaneason11,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.

It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.
http://www.consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.
http://www.consumer.ftc.gov/articles/0058-credit-repair-how-help-yourself

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
... more
0 votes 2 answers Share Flag
Fri Apr 26, 2013
Christina Hayes answered:
Brian:

Unfortunately not. Lenders require 620-640.. If you need help improving your credit scores please visit my blogs here on Trulia or you can contact my office. We guarantee to improve your credit scores so that you can qualify for a mortgage.

Best of Luck;

Christina Solorzano;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Banker of 10 years
http://www.everlastingcredit.com
... more
0 votes 8 answers Share Flag
Tue Nov 20, 2012
Beverly Silbernagel answered:
Gary,

The tech environment here in Hillsboro is thriving. Intel just recently announced their plans to expand the fab that they will be finishing construction on in the next several months. So there are construction jobs and tech jobs that will all result from the expansion. Below is a link to a good article about it by Portland Business Journal.

http://www.bizjournals.com/portland/news/2012/10/24/intel-plans-massive-expansion-to-3b.html

The market is in demand here, I can email you some statistics if you would like to send me your email address. We expect it to continue to be in demand especially with Intel's expansions.
... more
0 votes 1 answer Share Flag
Wed Oct 17, 2012
Joe Jessal answered:
Buying a shortsale can be a complicated process. There are things you need to know like which bank is holding the mortgage and if there are any other liens on the property. Closing on a shortsale will take longer and depending on the conditions can sometimes take over a year to close.

Not all shortsales will be this way, keep in mind. The best thing you can do is just like you are doing... Research. I have accually come up with some great shortsale info just from googling questions like "How to buy a short sale house." eHow has some great articles on short sales

The advantage is shortsales is they can save you anywhere form 10 to 25% of the market value of the home.



Good Luck
... more
0 votes 2 answers Share Flag
Tue Sep 11, 2012
Manisha Jain answered:
Are you looking to buy or sell the Rural/Land? I have done both for my clients. Let me know if you are still looking for help.

Manisha Jain
Summa Real Estate Group
manisha.realtor@gmail.com ... more
0 votes 7 answers Share Flag
Tue Sep 11, 2012
Manisha Jain answered:
Hi Brian,

Let me know if you are still looking for guidance with the mortgage and low score. Trulia also have some great pointers to improve the credit score.

Manisha Jain
manisha.realtor@gmail.com ... more
0 votes 2 answers Share Flag
Tue Sep 11, 2012
Manisha Jain answered:
Hi Paul,
As you probably have known by now that you do not need a license to buy property. But if you would want to run it as a business, a good broker can certainly help you with that. I work with several investors who buy , rent it or flip it. Let me know if you would like to get the alerts for listings with good rental potential.

Regards
Manisha Jain
Summa Real Estate Group
manisha.realtor@gmail.com
... more
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