It’s November, and the holiday season is coming fast. That means a lot of first-time home buyers in Oregon are looking ahead to 2017. If you fall into this group, and plan to buy your first home next year, you’ll find this collection of first-time buyer guides helpful.
Oregon First-Time Home Buyer Guides for 2017
Over the past few weeks, we have created a series of helpful guides for folks who are planning to buy their first house in Oregon in 2017. Below, you will find a compilation of these resources.
Oregon Housing Forecast for 2017
Home prices across the state are expected to continue rising in 2017, though possibly at a slower rate than what we’ve seen in the past. You can learn more about these and other projections in the real estate market forecast above.
Buying a Home in Portland
The Portland housing market was red-hot during 2016, and it’s expected to outpace the nation in 2017 as well. Do you plan to buy a home in Portland? If so, you’ll want to start your research process with this informative market update.
Oregon Mortgage Loan Options
First-time buyers have a lot of options when it comes to choosing a home loan. This helpful guide explains some of the most popular financing options in use today, including FHA, conventional, 30-year fixed, and ARM loans.
Average Closing Costs for Buyers
Home buyer closing costs in the state of Oregon range from 2% to 5% of the purchase price, on average. This guide explains some of the costs you might encounter when buying your first house in 2017.
FHA Benefits for First-Time Buyers
The Federal Housing Administration (FHA) loan program offers unique benefits for first-time home buyers in Oregon. That’s why it is so popular among this particular audience. This article explains the primary advantages of this program.
Get Pre-Approved Before House Hunting
First-time home buyers in Oregon can benefit from getting pre-approved for a mortgage loan. Pre-approval is when the lender reviews your financial situation to determine how much they are willing to lend you.
There are several benefits to being pre-approved.
- It helps you narrow down the market to those homes you can actually afford, based on your financing. This saves time and energy.
- Sellers will be more inclined to accept your offer, if you’ve been pre-screened by a mortgage lender.
- Real estate agents will be more willing to work with you. In fact, some Oregon real estate agents will only work with buyers who’ve been pre-approved.
The bottom line: If you’re buying your first home in Oregon in 2017, mortgage pre-approval can help you in several ways. It will make you a more competitive buyer, which is especially important in an active real estate market.
Sammamish Mortgage has been helping first-time home buyers in Oregon, and across the Pacific Northwest, for more than 20 years. Please contact us if you would like to get pre-approved for a home loan, or if you’d like a rate quote.