Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Financing in Portland : Real Estate Advice

  • All920
  • Local Info69
  • Home Buying372
  • Home Selling68
  • Market Conditions37

Activity 52
Thu Sep 7, 2017
Eric answered:
Hard Money lenders can vary a lot. Not only with regards to rates and terms, but also speed of funding, underwriting / qualifications, and overall character of the company. You should definitely get a recommendation from someone who has had personal experience with a specific lender as some can be amazing partners and others are sharks.

Talk with several lenders and see what makes them unique. Most likely you are going to be borrowing for 3-9 months so the difference between 10% and 13% may not be nearly as valuable as a partnership. Some lenders have other resources and access to off market deals that can be worth its weight in gold.

In Oregon and Washington, I personally like Northwest Private Lending. They are win / win deal makers and prioritize the long-term relationships.
... more
0 votes 26 answers Share Flag
Thu Aug 31, 2017
Lachesis0980 asked:
My parents live with my husband and I, in the home I own, while they are saving to purchase their own home. They're yearly earnings combined are ~$32,000. My husband and I earn ~$100,000…
0 votes 0 Answers Share Flag
Wed Aug 2, 2017
Lindsay asked:
The property in question has a house on it but is a working farm. The owners are a married couple and a business (also owned by the one of the property owners) is leasing the property for…
0 votes 0 Answers Share Flag
Wed Dec 7, 2016
Danielledierking asked:
Went through a separation and had to refinance home in return for giving my ex $$. Appraisal was done in May. Had to wait to have the judge actually sign the Judgement in September.

0 votes 0 Answers Share Flag
Sun Nov 20, 2016
Nakia Woodson answered:
For a refi it usually does not make much difference. They realize the same person is staying in the home. However, confirm this with the company you are completing your re fi with.
0 votes 2 answers Share Flag
Sun Nov 20, 2016
Nakia Woodson answered:
There are many programs, TALK to many mortgage professionals. However, do not have your credit run until they offer the program you need and you are ready to move forward. Also there are many mortgage lenders that will take lower than a 640 Fico score. ... more
0 votes 60 answers Share Flag
Mon Jan 11, 2016
If you file for Chapter 7 or 11:
4 years to get conventional financing.
2 years for FHA financing.

The waiting period begins at the time of discharge.
0 votes 2 answers Share Flag
Tue Jul 21, 2015
Mickey OBrien Team answered:
There are several ways to raise capital if you have poor credit. One way is through crowd funding from sites like or Trulia also wrote a good article on fixing your credit, you can find it here:

Keep moving forward!

Mickey OBrien
Table Realty
Fair Oaks,CA 95628
... more
0 votes 2 answers Share Flag
Tue Jul 21, 2015
Hi Pamela,

As others have stated below, it is certainly possible for a surviving spouse who has not remarried to take advantage of a VA home loan. There are essentially three caveats to being eligible:

1) Survived a spouse who died in service or from a service-related disability

2) Survived a spouse who was missing in action (MIA) or a prisoner of war (POW) for at least 90 days (limited to one-time use of benefit)

3) Survived a spouse who was rated continuously totally disabled for the specified period of time, and was eligible for disability compensation at the time of death.

If you would like more information on if you are eligible for VA benefits or if you would like information on different loans that could meet your needs, please don't hesitate to reach out me.

Mike Worthington
Directors Mortgage
... more
0 votes 5 answers Share Flag
Mon Jul 20, 2015
Yaw Anku answered:
Here's a list of FHA Approved list of lenders in Portland that can help with your loan search
You can also try searching on for FHA lenders all over Oregon ... more
0 votes 7 answers Share Flag
Mon Feb 23, 2015
Gerald Vonberger answered:
It really depends on what company you go with. Some are a little bit more lenient on what they'll accept as collateral for loans. They'll probably also want to know what you're using the money for. If it's a legitimate purpose, they'll be more willing to work with you. Like I said though, with collateral loans, it all depends on company you talk to. ... more
0 votes 3 answers Share Flag
Wed Apr 23, 2014
Janine Ward answered:
It is possible to make proposal to the owner of the land/lot that you are wanting to build on and see if they would offer seller financing for the next year. Do you already have the land identified or do you need assistance finding such property?
I live and work in the exact area you are in and would be happy to help if you don't already have an agent relationship.
... more
0 votes 1 answer Share Flag
Sat Aug 17, 2013
Joycelewis412 answered:
Look for brokers or realtors. Check if you qualify for a mortgage. Try
0 votes 7 answers Share Flag
Fri Jan 18, 2013
jayhartt - not sure what your question is ... are you complaining about mortgage guidelines or are you asking how to qualify for a mortgage given your situation? Did you read the responses in relation to the original posters question? ... more
0 votes 14 answers Share Flag
Fri Sep 28, 2012
Marvin Von Renchler answered:
Semantics. Locking a loan for extended periods of time can raise its cost, which I suppose one could call a lock in fee but tomato toMAHto, right? Thumbs up to Gregorio
0 votes 3 answers Share Flag
Thu Sep 13, 2012
Jeff Nunley, CMPS answered:
I had forgotten to mention that there is also an option with Fannie Mae to put down as little as 3% on a home loan. Since this is a conventional program it does not have the high upfront MIP that FHA has and it still has a lowerr monthly MI payment as well. This can be a great option for a low down payment especially if you have good credit scores. ... more
0 votes 24 answers Share Flag
Sun Aug 19, 2012
Ruth Velez answered:
I know of a lender that often works with investors. If you'd like to contact me, I'll be happy to put you in touch with them.
0 votes 3 answers Share Flag
Fri Jun 8, 2012
Annette Levinson answered:
You already have insurance money to replace (cabinets and appliances cannot be fixed) so what more do you need to do? With the insurance money your are remodeling the house so you should figure the budget for what you wish to do and then minus the insurance money. ... more
0 votes 5 answers Share Flag
Wed Jun 6, 2012
Carla Muss-Jacobs, Principal Broker/Owner ~ Exclusive Buyers Agent ~ ABR, CEBA answered:
It's been a little over a year ago since you posted your Trulia question. In that time, have you been working on improving your score? Time flies doesn't it ;-)

If you've waited this long to buy, it might have been for the better: interest rates have fallen in a year, and so have prices. Are you still thinking about buying a home?

Carla Muss-Jacobs, Principal Broker/Owner
EBA Portland, LLC
Exclusive Buyers Agency since 1999
... more
0 votes 7 answers Share Flag
Wed Nov 2, 2011
Mikalan Moiso answered:
I highly suggest you look into the many types of modifications available through your current lender (you can call it a refinance of sorts). There are too many questions to ask you, to fully understand your situation and provide you the best resources. DO YOUR RESEARCH. You might have heard that over 50% of the original modifications were denied and/or unsuccessful. In light of the news there have been some changes and added support both federally and here locally. There are programs for people just like you, unemployed and/or disabled.
I hope that helps!!
... more
0 votes 8 answers Share Flag
1 2 3
Search Advice