Mortgage Resource Center

Knowledge is power! Pre-qualification, pre-approval, earnest money, home inspection, appraisal, signing, funding, and finally possession of the property! We define some key terms and break down important steps here:    

 Homebuying has a language all it's own and knowing the lingo is a big help. Fortunately the Consumer Finance Protection Bureau has published, "Your Home Loan Toolkit: A Step by Step Guide" to help make sense of it all.  Learn more: 

Fannie Mae's HomeReady program is great for first time and repeat home buyers offering low down payment, flexible qualifying, and potential price breaks. Home buyer education is required, here's the FREE link to Fannie's HomeView home buyer course.       

Freddie Mac's Home Possible is also a great program for first and repeat home buyers offering low down payment, flexible qualifying, and potential price breaks. A home buyer education certificate is required so here's the link to Freddie Mac's FREE  CreditSmart courses.  

Created in 1934 to help home owners FHA remains an excellent choice to this day. Loan limits are based on county and number of units. For 2023 the Marion and Polk County loan limit is $483,000 and for Portland metro it's $672,750. Look up your county here.   

Mighty Mortgage Home Loans is veteran owned and committed to helping veterans maximize their Federal VA home loan benefit. Add Mighty Mortgage to your home buying team and put our experience to work for you! 

We've got your back. 

"USDA" is a zero down payment loan program where the United States Department of Agriculture provides the mortgage insurance and sets the qualification guidelines. Check property eligibility here, zooming the map helps :)  

 Refinancing is mostly about dollars and cents; Can I lower my rate, my monthly payment, can I get cash out and how much? 

If these are your questions get answers. Start here:

  Your credit report is an important part of your financial life. It can determine whether you can get credit, how good or bad the terms for getting credit are, and how much it costs you to borrow money. Visit the official Federal Trade Commission (FTC) web page to learn how to get your free credit report — and why it may be good idea.