Home ownership is about security, comfort, and fulfilling the American dream. With home ownership comes the sense of community, the security of owning the roof over your head and the opportunity for financial growth.
Buying a home is also the single largest investment most people ever make. As long as you prepare for the responsibilities and choose a home and a mortgage that are well suited for your needs, the personal rewards of home ownership can be remarkable.
Northwest Resource has partnered with another local credit union to provide our members with some of best options, pricing, and member-service in the market:
- No application fees
- Free loan pre-approval
- Home loans in all 50 states
- Over 100 different loan products
- Low closing costs
- Dedicated and experienced loan officers
- Online Application
Get started by applying online. Or, call our Mortgage Loan Officer, Brandon Frankel, at 503.872.9447 to discuss your options.
There are many loan products available to borrowers today. We have highlighted some of the more popular loan choices:
Traditional Loan: Fixed rate loans for terms ranging from 10-30 years. This product requires a higher down payment than other options, but it also offers maximum insurance for borrowers.
FHA Loan: These loans are insured by the Federal Housing Administration and allow for down payments as low as 3.5% of the purchase price.
ARM (Adjustable Rate Mortgage): Fixed rate loan for a fixed term (usually ranging from 1-7 years) that converts to a variable rate loan after the fixed term. Borrower receives a rate discount as compared to the 30 year fixed rate loan.
Balloon Loan: This loan also has a fixed rate for a period of time, typically 3-7 years, then the loan reprices to current market rates. These loans are priced very attractively to the 30-year fixed rate loans, so many borrowers who project a short stay in a property will choose this loan option.
Get started by applying online.
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