Investment Financing
Posted On: August 9th, 2009 by James Posted In: Mortgage Programs • Portland Real Estate • Refinancing
The environment for mortgages in Portland, Oregon has changed so completely in the last 18 months, its hardly recognizable. There used to be such a huge variety of payment structures, and borrower profiles. Now there is only one borrower profile: fully documented income with decent credit and some kind of down payment. And payment structures are quite limited. One thing that remains however is the Investment purchase program.
I still believe that investing in Portland real estate can be a great way to create wealth. The rules have changed quite a bit, and it has never been more important to work with professionals, and to do your homework.
From a financing standpoint, the main thing to recognize is the re-emergence of cash as a necessity. It is virtually impossible to find a mortgage in a non-owner occupied scenario that allows for less than 20% down (with one exception- the Homepath loan in Portland Oregon). And most situations are VASTLY improved with putting 25% down.
Prices are improving in Portland and nationwide, when you combine this with lowering mortgage rates investment property starts to look very compelling. If you have the requisite down payment, a fixed rate mortgage can put you in an immediate cash flow situation.
The rental market has been softening here, but again, if you do your research and get the right property at the right price, you will have an appreciating asset for years to come.
To get started on your research, I have created a resource section at pdxhomeloan.com. This is a collection of property search, rental income analysis, mortgage calculators etc. If you would like to explore further, please contact me and lets go over your options.
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