The Lindley Team | 503.517.8641 (click to call)
Talk to a Portland mortgage lender before you visit a single open house.
Buying a house in Portland is an exciting experience. It’s beautiful here and we think everyone should want to live in the Pacific Northwest!
Hold up, though. You’re probably skipping an important first step.
Before you even hop on that first realtor website, you need to talk to a Portland mortgage lender or mortgage broker. Let me explain.
Why you should talk to a Portland mortgage lender before you shop.
Picture this. You’ve been shopping around online for a house in Portland. You’ve researched neighborhoods, schools, and commutes. You’ve narrowed down the area you want to live in and you’ve started to visit a few open houses.
The last house on your list today looks good on paper. You step inside, grab a cookie from the kitchen counter, and take a tour. You fall in love. This house must become your home.
Now what? How do you make this happen? Can you even afford this house? What if someone else makes an offer first?
Let’s rewind. Now picture going into your shopping experience armed with all the information you need about your credit score, financial health, mortgage affordability, and more. When you go to make your offer, you know you’ll be taken seriously by all involved because you’ll have a credible pre-approval letter and a lender to back you up.
Why is this version such a breeze? Because before you even decided how many bathrooms you want, you spoke with a mortgage lender.
Mortgage brokers, lenders, and correspondents.
To put it simply, a mortgage broker acts as your mortgage guidance counselor.
High School guidance counselors look at your grades, your extracurriculars, your strengths, weaknesses, likes, and dislikes. She uses that information to guide you toward the post-graduation path that’s right for you.
A mortgage broker will take all your financial strengths and weaknesses, your likes and dislikes, your values, and your goals into consideration when matching you with the perfect mortgage lender.
A mortgage lender, of course, is the institution that lends to you directly. If you travel back to 1960, dress up and head to a bank to ask for a loan, you’re talking directly to a lender. In the guidance counselor example, the lender is the college.
A mortgage correspondent is like your guidance counselor who also happens to be the dean of all of the colleges on your top 10 list. The mortgage correspondent has the capacity to lend and broker in order to get you the ideal loan for you needs, wants, and financial circumstances.
Why a local Portland mortgage lender?
A Portland area mortgage broker is going to have established relationships with Portland mortgage lenders and out-of-area lenders. Working with a broker in Portland will put you face to face with your mortgage expert. He or she will understand the local housing climate.
Those relationships she’s cultivated with Portland mortgage lenders will make it easier for her to match you with the right lender for your needs.
If you want to know where to get the best fish tacos in town, you ask the locals, right? If you want the best lenders for your mortgage, which is somewhat more expensive than a street taco, you ask the local Portland mortgage professionals.
Of course, if your broker happens to be a mortgage correspondent, then you’re already working face to face with the mortgage expert. That local you asked about fish tacos happens to be a chef, a guidance counselor, and a college dean. How convenient!
Ready to start? We can help!
House shopping should be an exciting adventure. With the help of an experienced, professional Portland mortgage lender you can focus on the fun stuff knowing you’re ready for the next step. When you find that perfect property you’ll be ready to act. Happy Hunting!