Homes for Sale in Fairview, Oregon
Fairview is a cute, quaint little city located 15 miles from Portland Oregon and about 180 miles from Seattle Washington.
The city of Fairview sits in Multnomah county and was established in 1908.
The population of Fairview is 9,280 welcoming and engaging people. They all come together to enjoy the natural and community features that Fairview has to offer. Fairview holds 127 historical sites and spans 3.1 square miles.
One of the communities’ favorite areas is Blue Lake. (insert link here). Blue Lake sits on the Columbia River valley and has waterfront homes and park areas. Chinook Landing Marine Park has a boat launch onto the Columbia River which was opened in 1991. The park has play structures, safe swimming, picnic areas and many other family friendly attractions. Having Blue Lake Park between Fairview Lake and the Columbia River creates a harmonious balance of natural features and land that is pristine and undeveloped. The natural flow of the nature and community makes this location very desirable.
Another outstanding and unique Fairview neighborhood is the award-winning Fairview Village. “The Village” as locals call it is a unique, planned community. Many compare it to a quaint european-style hamlet. With a walking score above 75 it sits within 6 blocks to parks, schools, post office, library, walking trails, restaurants, shopping, doctors, coffee bistros, etc. Many residents leave their car at home and walk to work and play within the Village. Insert link here. http://www.fairviewvillage.com/main.html
The average cost for a home in Fairview is around $300,000.
Types of loans available
Types of loans can vary from where you are seeking to live if this is your first time buying a home and or if you’re looking to avoid a down payment.
Here are a few examples of a couple of loans that are available to the public in Fairview Oregon. The Federal Housing Administration also is known as FHA offers loans to low and moderate-income home buyers. FHA Loans can come with a lower down payment and have an easier process for requirements compared to a conventional fixed-rate mortgage.
The FHA mortgage has no income restrictions and is accessible to those with lower credit scores. A great benefit of an FHA mortgage loan is a past bankruptcy may not necessarily disqualify you.
Another common type of loan is The Department of Veterans Affairs also known as the VA which offers a zero-down mortgage program. To be a part of the VA program you would need to be a veteran or service Personnel in the US Military.
Another popular type of loan is a fixed rate loan better known as a conventional loan. A fixed-rate mortgage is a popular mortgage program that is used in 2016. This loan type offers the borrower a fixed interest rate for the life of the loan, typically 15 to 30 years. A fix rate mortgage will give peace of mind knowing that your monthly payment will not change over time.
A typical fixed rate mortgage has requirements established in the underwriting by Freddie Mac and Fannie Mae and requires certain down payment in debt to Quality ratios to qualify. Fixed-rate loans are especially attractive to buyers who plan to stay in their home for more than a few years.
Next up will be an adjustable-rate loan. With an adjustable-rate mortgage also known as ARM, the interest rate changes periodically, and payments go up or down accordingly. Rates are tied to an index that reflects the cost of money at any given point in time. Lenders charge a lower initial interest rate for the ARM than for the fixed rate mortgage period if you’re expecting interest rates to decrease in the future, or if you are trying to maximize your purchase power today knowing your income will rise in the future, and then this one may be right for you.
Last but not least local home buying program. There are often many state and local programs available. These programs offer down-payment assistance and programs for local home ownership. You can learn more about these local programs, recommended lenders, and other finance options by contacting Greg Walczyk & Associates (insert button for finance) are an excellent team of brokers located in Fairview Oregon.