Capital Home Mortgage Portland

Portland Home Loans

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Portland Mortgage Lender

Home Loans in Portland, Oregon

Portland is the largest and most populous city in the State of Oregon. It has a population of 652,503 making it the sixth-most populous on the west coast and the second-most populous in the Pacific Northwest, after Seattle. The Portland housing market is still hot despite the economic slowdown caused by the pandemic.

Is buying a home in Portland, Oregon on your agenda this year? You’ll probably need to finance it with a home loan. Whether you’re a Portland resident ready to buy your first home or you’re relocating from another state, obtaining a home loan doesn’t have to be complicated. 

The first thing to know is if you are eligible for a mortgage to help fund this big purchase. So, what are the requirements to get a home loan in Portland? Here’s what you need to know.

Portland Home Loans General Requirements

1. Your Ability to Repay the Loan

You’ll need to be able to demonstrate your ability to afford the mortgage payments for the home that you purchase. Lenders will want to see your income, assets, credit, monthly expenses, and other supporting documents under the ability-to-repay rule.

They will also consider your debt-to-income (DTI) ratio, which is a measure of how much of your monthly income goes into debt repayments. Ideally, it should be no more than 28%. You can use this debt-to-income ratio calculator to determine your DTI.

2. Down Payment 

The amount needed for your down payment will depend on the type of home loan that you’re trying to get. Most loan types, including Freddie Mac and Conventional loans, require a minimum down payment of 3%. FHA loans typically require at least a 3.5% down payment. 

In general, a larger down payment means better repayment terms, as well as a higher chance of your loan application being approved. Try to raise at least a 20% down payment if you want lenders to take your offer seriously. 

3. Decent Credit Score

You will need an acceptable credit score before you can be approved for a home loan. These three-digit numbers are computed based on the data from your credit report. They give lenders insight into how well you have managed credit in the past. 

Most Oregon mortgage lenders want to see a minimum credit score of 620. In any case, the higher your credit score, the better your chances of getting approved for a home loan. 

4. Manageable Debt

Lenders will look at your current level of debt when considering your home loan application. They will consider things like personal loans, student loans, auto loans, and credit card debt, among others. 

Each lender has its own threshold for what constitutes an acceptable level of debt. The key is to ensure that even with a sizable debt profile, you have the financial capacity to repay them, in addition to the home loan repayments that you’re about to take on.  

Portland, OR Mortgage Lender 

Soaring prices and uncertainties in the real estate market can make owning a home in Portland daunting, especially for first-time homebuyers. We’re here to help. 

At Capital Home Mortgage, we offer a comprehensive lineup of home loan products, including Conventional, FHA, USDA, VA, Jumbo, and Native American home loans. 

As a direct Portland, OR mortgage lender, we control the entire loan application and approval process from start to finish. This means you don’t have to deal with multiple vendors and third-party providers on your journey to becoming a bonafide homeowner. 

Ready to Own Your Dream Home in Portland?

If you are ready to buy a home and are in need of a loan, Capital Home Mortgage can make it a reality for you. We understand that home loans are not one-size-fits-all, so we provide our loan officers with all the necessary tools and support to help you make the right decision. 

Whether you are a first-time homebuyer looking at a Portland FHA Home Loan, active duty or retired veteran needing a Portland VA Home Loan, or a seasoned buyer with a Portland Conventional Home Loan we are here to help.

Thank you again for your interest in our services and we look forward to providing you next home loan.

Call us at 503-303-0662 to get started. You can also check out our mortgage calculator to get an idea of what to expect based on your preferred home loan type. 

Why Portland is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Portland Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Portland Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Portland Mortgage Rates

Capital Home Mortgage Portland is dedicated to offering great Portland Mortgage Rates and Low Fees all while providing exceptional customer service.  Our mortgage professionals are focused solely on home mortgage lending to make your experience smooth with an on time closing.  Call today to speak with a mortgage officer or request a no obligation quick rate quote.

Capital Home Mortgage Portland Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Portland Mortgage Programs

Portland Home Purchase

Buying a Portland Home?

  • Primary, 2nd, Investment
  • Low Rates & Low Fees
  • Conventional, FHA, VA, USDA
  • Jumbo, Reno, Manufactured

Portland Renovation Home Loans

Portland Renovation Loans

  • Remodel, Renovate, Repair
  • FHA 203K Streamline or Full
  • Fannie Mae Homestyle Reno
  • Freddie Mac Choice Reno

Portland FHA Home Loans

1st Time Portland Homebuyers

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores Allowed

Portland VA Home Loans

100% Loans for Portland Veterans

  • Simply Qualifying
  • No Down Payments 
  • Lower Credit Scores Allowed
  • Manual Underwriting Allowed

Portland Conventional Home Loans

Flexibility for Portland Buyers

  • Primary, 2nd, Investment
  • Great Rates & Low Fees 
  • Single and Multi-Family
  • Renovation Loan Programs

Portland Jumbo Home Loans

Great Portland Rates

  • Primary & 2nd Homes
  • Higher Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Portland USDA Home Loans

Portland Rural Properties

  • Rural Properties Only
  • Primary Residence Only
  • New Manufactured Homes
  • Closing Costs Can Be Rolled In

Portland Native American Loans

Portland Native American Loans

  • Primary Residence Only
  • Manual Underwrite All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Portland Manufactured Home Loans

Portland Manufactured Homes

  • Purchase or Refinance
  • New Home Purchase
  • OTC Combo Land & Home
  • FHA, VA, USDA, & HUD 184

Portland Reverse Mortgages

Your Portland Home at Work!

  • Primary Residence Only
  • Simple Qualifying
  • Credit Scores Not Applicable
  • Minimum Age 62

Portland Cash-Out Refinance

Portland Cash-Out Refinance

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Portland Mortgage Refinance

Portland Rate & Term Refinance

  • Purchase, Refi & Cash-out
  • Primary, 2nd & Investment
  • Full Doc & Alt Doc Programs
  • Corporations OK

Portland Mortgage Company Reviews

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