Locking in favorable terms with a fixed-rate mortgage. As of this writing, interest rates are at their historical rock-bottom. Receiving a fixed-rate mortgage lets you potentially lock in the most affordable terms we’ve seen.
The Money-Saving Secrets of the Home Purchase
If you’re tired of throwing rent toward the landlord, you can keep some of that money by putting it toward the principle of your very own home mortgage. Why bother? Here are some of the money-saving secrets that homeowners can enjoy:
Get pre-approved for a mortgage to do your research first. Ready to shop around? There’s no pressure. Get pre-approved for a mortgage and find out how much home you can afford—these are essential next steps that convince a home seller that you mean business.
Buy the home you can afford. When you know your total monthly liabilities, your income, and your credit rating, you can easily calculate just how much home you can afford. This will help ensure that you buy a house that remains a long-term blessing and not a strain on your budget.
The Stats: What You Need to Know Before You Buy a Home
Homeownership is common. In fact, statistics from 2019 show that the homeownership rate was a staggeringly high 64.8%, which means the majority of people have gotten out of the rent cycle and into their own home.
You don’t need experience. First-time home buyers constitute one-third of all home buyers, which means that you don’t have to feel intimidating by the home buying process, even if it’s your first time. It’s far more common to be going through this process for the first time than you might imagine.
The average length of time is low. Have house fever? You’d be surprised how quickly things can move. The average length of time between someone visiting a potential home for purchase and the closing date was only 73 days, or two and a half months.
Are you interested in finding out if a home purchase makes sense for you? Are you ready to join the ranks of homeowners and lock in potentially low rates?
2 Ways to Use Your FHA 203(k) Loan
Buy a Fixer-Upper (and Fix It Up)
Or... Renovate Your Current Home!
I have completed four home loans with Ron Kurahara from Hood River Mortgage Group: two refinances and two new homes loans. Ron is absolutely the best Mortgage Broker I’ve ever worked with. He is exceptionally knowledgeable about all aspects of home loans including Conventional, FHA, and VA. Ron is intelligent, dedicated, exceptionally responsive, and always answered my phone calls. Ron gave outstanding customer service and always made me feel like I was his number one client. I frequently sent emails and text messages after normal hours and he always responded promptly (even when the office was closed). I highly recommend Ron Kurahara for your next home loan.- Nick Hogan
I am so appreciative of all the hard work Lorena did to help me purchase my first home! Owning a home in the Gorge seemed impossible for me, but she made it a reality. I didn't have the best of credit, but Lorena was helpful in explaining my best options. Not to mention she's very responsive and efficient in her work. I am endlessly grateful and couldn't be happier with the way everything worked out.- Judy Villalobos
My husband and I had a great experience. We had been through alot and getting the responsive and quick help with buying our home was wonderful. We really appreciate all our broker did to help us. Ron Thank you for all you did!- Robin Jackson
Ron Kurahara was excellent to work with when refinancing our home. Highly recommend.- Casey Butler
Ron at Hood River Mortgage Group created a very easy experience for us during our home buying process. He was readily available whenever we had questions and was very clear about what was required for each step of the process as well as deadlines. Not to mention he secured us a very attractive loan with a very reputable lender. I couldn’t recommend Hood River Mortgage Group more highly.- Austin Riley
They pulled through for me on a great and accurate appraisal. Hood River Mortgage group was recommended by my realtor and I see why, they were extremely easy to work with. They stay up to date on everything they need in order to push any process forward. They helped me get my very first house!!- Javier Reyes
We decided to refi due to the rates being so low, and I Googled HR Mortgage, and had the best experience. Lorena was our contact via email and phone. She was extremely professional, gave us exactly what we had hoped, and helped us lock in at an excellent mortgage rate. We are extremely happy and would highly recommend this mortgage co.- Laurie Hicks
I've been working with this firm for years! Literally for every purchase or refi since 2000. Responsive. Professional. Gets me great rates and makes it easy. Highly recommend.- Terri Silvis
Ron is very professional and responsive. Made our loan process clear, concise and quick. Closed on time. Thank you, Ron.- Shawn Ewing
Hood River Mortgage group gave valuable feedback and helped me get my house with minimum hassle. They were responsive and helped walk me through everything I needed to go through. Would recommend.- Brody Sargent
Your Renovation Wish List Could Include...
Increase window size
Bring in more natural light
Finish a basement or attic
Create a mother-in-law apartment or guest space
Correct foundational issues
Protect your investment for the long-term
Add a detached garage when one does not exist
There’s room for everyone
Knock down walls
Open up the floor plan to create versatile, welcoming spaces
Flood-proof your property
Add a retaining wall to prevent expensive damage
Repair the pool
Tired of leaks and cracks? Fix the pool & start enjoying it
Expand or refresh the kitchen
Cooking is just more fun in an updated kitchen
Add square footage
Growing your family? Grow your home alongside it!
After remodeling, 74% of owners have a greater desire to be in their home, and 65% have increased enjoyment in their home.
How Does a Renovation Loan Work?
Depending on the types of repairs you plan to do, you have two options when it comes to securing a FHA 203(k) Renovation Loan: Limited and Standard.
What You Need To Know About A Home Purchase
Why should I buy a home rather than rent?
Everyone’s situation is different. However, in the era of low interest rates, a new home purchase can make financial sense for a lot of people. Locking in these low interest rates can mean paying less for more square feet in some cases. That said, every person’s situation is different, and your motivations for buying a home (including the need for more space or privacy) may differ from other people.
How do I start the home buying process?
One of the best ways to show that you’re serious about buying a home is to get pre-approved for a mortgage. This will give you some leeway when it comes to making offers when you view homes. And in some cases, it’s viewed as a necessity when you go out shopping for homes. In many cases, the process is as simple as finding out what you can afford given your current income, levels of debt, and financial obligations. The good news: it’s a lot simpler than you think!
What kinds of financial commitments do I have to make?
There are a lot of options for financing when you make a home purchase, so don’t feel that you have to commit to any particular one at this point. You’ll find that it’s possible to make a 20% downpayment, for example, but there may be types of financing available that require far less—as low as 3%, depending on your situation.
Why is now a good time to buy a home?
Although every situation is different, low interest rates tend to mean generous financing terms for people taking on a home mortgage. Having a mortgage with low fixed interest rates, for example, can be a powerful hedge against inflation in periods of higher inflation—where in the interest rates are typically higher. But we should reiterate that every situation is different, and you should do what’s best for your situation and your own family.
What is the next step?
Click through our buttons above to find out whether you qualify for great terms on a new home purchase!