Welcome Home Buyers!

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:

 When financing or refinancing your home credit is a key factor in setting the terms of the loan. That's why the Federal Trade Commission (FTC) has created a guide explaining your rights with instructions on how to obtain a free credit report from all three credit reporting bureaus, and what to do if you spot any errors or inaccurate information. Go to the FTC website to learn more and get a copy of your free credit report!