Looking for a home in Bend or anywhere else in Central Oregon, whether a single-family home, investment property or farm or ranch? I am your resource for that. But to actually purchase that home, it takes the expertise of a great mortgage broker, and I have the best in the business on my team. Let me tell you how such an expert will work for you and get even the most complicated deal closed.
I often used to say that one job I never could begin to do was that of a travel agent with all the schedules and combinations of details that could make or break a trip for a client. Very complicated and changing continually. These days, that complexity defines the very challenging job of a mortgage broker. And it changes almost hourly.
This past week I was privileged to help a client purchase a home. Sound simple? Hardly. She is a single woman who works retail full time and was able to buy her first home. Yes, it was rewarding, but that purchase happened because she and I viewed many, many homes in Redmond over many weeks and because of the hard work of a member of my team who goes above and beyond to get my clients the best rate and the best deal for what is the most important purchase if their lives.
Mark Worthington, branch manager for Directors Mortgage here in Bend, has always been my go-to guy for getting my clients great deals. Last August I met and began working with this particular client who I will call Anne. Anne purchased her new home, and we closed this past Monday, February 1 after five months of house hunting, offers on homes that did not work out and a lengthy loan process on two different homes, one of which we just closed on. In the end, Mark got a USDA-backed Rural Development Loan on a HUD home for Anne and closed it in 26 days. Incredible. And he even called in favors to have a few critical repairs done on the home so it would pass inspection. By the way, his file is over three inches thick!
What is a Rural Development Loan? This is a loan for first-time homebuyers, is available for property outside the Metropolitan Statistical Area, which is outside the Urban Growth Boundary, has income limitations for the buyer and is a ZERO DOWN LOAN. Yes, they still exist. But there is LOTS of paperwork involved for closing. See my next blog for more information on FHA loans, USDA loans and credit scores for home purchases.
Thanks, Anne, for sticking with this process. And thanks, Mark, for consistently and continually getting the best loans for my clients. Come visit with me and put a great team to work getting a great home or ranch for you.