Buying a home
Know your situation before you fall for a house.
Whether it's your first home or your fourth, I can help you prepare with a plan of attack, find the right place, and write a winning offer that makes it to closing.
Seven steps, start to keys.
Most purchases in the Portland area close in 30 days or faster once the seller accepts your offer. Here's what happens before and after that.
Talk it through
We start with a call or coffee: what you want, where, when, and what monthly payment feels right. You don't need to be ready to tour yet.
Get pre-approved
If you decide to shop for rates, I'll help you compare loan estimates from two or three lenders, so you pick based on total cost and service instead of the advertised rate.
Sign a buyer agreement
Before we tour, we sign a written buyer agreement. That's how buyer representation works now. I'll explain every line, including how my pay works and who covers it.
Tour homes
I'll point out what costs money later: the roof, the sewer line, the electrical panel, the drainage. On older Portland homes, I recommend a sewer scope & GPR scan (ground-penetrating radar, which checks for a buried oil tank & cesspool) almost every time.
Write a strong offer
Price is one lever. Earnest money, inspection timing, closing date, and seller credits are others. I show you how each one changes your monthly payment.
Inspection and appraisal
If the inspection turns something up, I can help coordinate contractors for bids, and we negotiate repairs or credits with the seller. If the appraisal comes in low, we have options, and I'll lay them out plainly.
Closing day
I stay on the lender, title, and escrow until you sign. Then I'll celebrate with you on key day!
Protect your approval until closing.
Lenders check your credit and bank accounts again right before closing. These habits keep your loan on track.
✓Do
- Pay every bill on time, including small ones
- Keep recent pay stubs and bank statements handy
- Keep your down payment where your lender can document it
- Answer lender requests the same day when you can
✕Don't
- Open new credit cards or finance a car or furniture
- Make large deposits you can't document
- Move money between accounts without a paper trail
- Change jobs or co-sign a loan before talking to your lender
The same $10,000, two different results.
Say a seller agrees to give $10,000 in concessions. Taken off the price, it trims your loan and lowers your payment a little.
Taken as a seller credit, it can cover your closing costs, keeping $10,000 in your pocket, or pay for a rate buydown. A temporary buydown lowers your rate for the first year or two. A permanent buydown uses discount points to lower your rate permanently. For some buyers, keeping the money in their pocket or buying down the rate makes more sense than a price cut.
The right choice depends on your loan, your cash, and how long you plan to stay. We'll look at all versions so you can compare the monthly payment and cash-to-close side by side before we write the offer.
Questions I hear most.
Want the full picture? My free 8-page Mortgage Ready guide covers what buying actually costs.
How much do I need for a down payment?
Less than many people think. Some conventional loans allow 3% down and FHA loans allow 3.5%. Eligible buyers can use VA or USDA loans with nothing down. You will also need cash for closing costs and inspections. Earnest money is part of your down payment, not in addition to it.
How long does buying take?
Plan on a few weeks to a few months of looking, depending on the market and what you want. Once a seller accepts your offer, most Portland-area purchases close in 30 days or faster.
Do I need a pre-approval before I tour?
No, but it is highly recommended. It sets your price range, which saves you time from looking at homes that may not fit your budget, and shows sellers your offer is real. It also surfaces credit or income questions early, while there is time to fix them. The last thing you want is to find the perfect home and need to scramble for your pre-approval.
How do you get paid?
Commissions are always negotiable, and we'll agree on mine in writing before we tour. I typically have great luck negotiating for the seller to pay my commission as part of your offer. If for whatever reason there is a rare case where the seller refuses, we will then have to have a conversation about it being a buyer-paid fee. Regardless, I'll always walk you through the options for your situation with complete transparency.
Are there down payment assistance programs?
Yes. Oregon and some local governments and lenders offer assistance for qualifying buyers. Rules and funding change often, so I can connect you with lenders who work with the current programs. Also, check out the resources under the More tab at the top of the page for a few places to start.
Let's talk
Ready to see what you can afford?
Text me with your questions, or book a 15-minute call and we'll map out your numbers.
Or call 541-579-6342