Anyone following my Oregon mortgage refinance example may wonder how or why anyone could spend so much time discussing a small detail involved in a sample transaction.  We spent day after day discussing options dealing with mortgage insurance.  We looked at the option of taking an 81.5% loan to value mortgage and paying a […]

          I have been spending some time discussing one small decision that needs to be addressed in my example for an Oregon mortgage refinance.  My example had you, my borrower, wanting to refinance your current home mortgage before the interest rate adjusted to 7.75%.  Your home had appraised for $427,000 and you needed $348,000 to […]

            Well, let’s see.  So far we have two options to help you, our borrower, refinance your adjustable rate loan into a fixed rate loan.  And so far, we are focusing our efforts for your Oregon mortgage refinance to finding a solution for an 81.5% loan to value loan.  We know you can stay under 80% […]

            Following up on again on our Oregon mortgage refinance example, we ran into a small problem.   Remember, our borrower’s home appraised at $427,000 and you (playing the part of the borrower, I am playing the loan officer) owe $341,000 and expect to pay about $7,000 in closing costs.  This will bring your new Oregon mortgage […]

             Let’s continue with our example where your are considering an Oregon mortgage refinance of your home.  Your adjustable interest rate has just jumped up 2% leaving you with a rate of 7.5% for the next year.  You have done some preliminary checking and have seen an advertised rate of 5.75%, and you called […]

           Once again, we are following up on our Oregon mortgage refinance example.  Remember, our borrower (you) owes $341,000 and is looking for a fixed rate since his adjustable interest rate has gone to 7.5%.  The home has appraised for $427,000 and estimated closing costs run $7,000.  At first glance, is seems like a new […]

             Let’s assume you purchased your home three years ago for $385,000 and secured an adjustable rate mortgage for 90%, or $346,500.00.  Today your home is valued at $427,000 and you owe $341,000.  Last month your interest adjustable rate has now jumped to 7.5%, or $2,423.00 and you have a mortgage insurance payment of $176.00, bringing […]

     Over the past few years, the mortgage industry has been flooded with all types of loan products.  Current changes in the industry, caused primarily by liquidity problems and declining housing prices, have eliminated some of the most risky loan products.  Fortunately, we still have hundred of loan options available in the Oregon home mortgage […]

        Always, the first consideration in refinancing your mortgage is to improve your own and your family’s financial health and welfare.  This includes both monetary and non-monetary considerations.  Education, vacation time, hobbies, personal improvement and investments can be as important as debt consolidation or lowering your interest rate or payment.  But for whatever reason you are considering […]

Now we know the ‘Why’ of mortgage market ‘meltdown’.  It’s time to discuss what to expect next.  First, if you are thinking about purchasing a new home in the Oregon home mortgage market or if you are planning to refinance in the Oregon mortgage refinance market, you should consider doing so now rather than later.  […]