Prepare Before Buying to Get the Best Deals for

Mt Hood Real Estate.

You’ve finally decided you want to buy a piece of real estate in Brightwood, Welches, Rhododendron or Government Camp Oregon. What do you do now? Here are a few tips for getting the best deal for your money:

Check Out Your Credit

Remember, everything is credit driven. That means your interest rate on your new home loan. The first thing you’ll want to do is order a copy of your credit report from the three major credit bureaus: Experian, TransUnion, and Equifax. Look for inaccuracies in:
• Name
• Address
• Creditors
• Late payments
• Delinquencies

After you’ve reviewed your credit report and know your credit score, you’re ready to make improvements to your report, if your credit score is too low. Send a written “Notice of Correction” to the credit bureaus. It can be up to 200 words. If needed, you can explain why you fell behind on a particular debt, and every time a lender accesses the report, they’ll see your explanation.

It can take several months to for your credit score to go up. However, it's well worth the effort to get a better interest rate. It can save you thousands on your real estate purchase in the Mt Hood Corridor.

Get Pre-approved

Before you start looking at properties, it’s a good idea to get a pre-approval letter from a lender. The lender takes into consideration your income and credit history. Then the lender determines the loan amount for which you qualify.

Most pre-approval letters list the maximum amount for which you are approved, not necessarily the amount you can afford. Look carefully at your budget so that you don’t get too excited about the number and get into more house than you can afford.

There are several benefits to getting pre-approved. It allows you and your Mt Hood real estate agent to narrow down the house search. That way you won't waste time seeing properties you can’t afford. Also, sellers will give your bid more weight if you're pre-approved.

Are you a first-time buyer?
You have just made a fabulous decision for your future. There are tons of great buys in the Mt Hood Real Estate market in the towns of Brightwood Welches, Rhododendron or Government Camp. I'm a specialist in the Mt Hood Corridor communities and would love to help you buy the home of your dreams. Call me now at 503-706-7101 or email me at blythe@servingmthood.com.

Credit report:
www.annualcreditreport.com/cra/index.jsp

Pre-approval:
loanlane.com/preapprove.php

Budget:
financialplan.about.com/od/budgetingyourmoney/Budgeting.htm

How Can Obama's Housing Plan for Mt Hood Real Estate Help You?

The housing plan included in President Obama's stimulus package has many good qualities that will help those seeking real estate in the Mt Hood Corridor, west of Government Camp, Oregon.

There are two main points to the housing plan:

1. To help people once again obtain reasonable mortgages to afford the home of their dreams.

2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures.

That's really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package is simple.

For Current Homeowners

If you have a current mortgage that you can't handle, now is the time to talk to your mortgage company. Don't wait too long because some of the detailed elements of Obama's housing plan are meant to be short-term in their offer so as not to over-tax the budget. While you have the chance, see if your mortgage can be reduced to reflect current home values. That can provide you with the equity you would have already built up but lost due to a drop in housing values. It will also lower your monthly mortgage to a manageable level.

For New Home Buyers

This is your market now. The real estate prices in the Mt Hood corridor between Sandy, Oregon and Rhododendron, Oregon are much lower which gives you a chance to buy a home you might not have been able to afford before. President Obama's housing plan provides tax incentives for you. However, just like with current homeowners, the time to do this is now. Because of the stimulus to the Mt Hood Real Estate Market, housing values are not going to stay as low as they currently are. Also, many of the incentives like the tax credits are valid for a very limited time.

If you’re ready to take advantage of the stimulus package benefits by buying a home, I can help. Call me now at 503-706-7101or email me at blythe@servingmthood.com.


homeowners feeling threatened by foreclosures: www.lvrj.com/business/40917822.html

stimulus housing package: www.recovery.gov/

tax credits: www.federalhousingtaxcredit.com/