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Let the Rivermark First Time Buyer Program Guide You
We understand the home-buying process can be confusing. That's why Rivermark has experienced Mortgage Officers to guide you through the process. We can make the path to ownership easier with loans that eliminate the need for a big down payment and hold down other costs.
3% Down First Time Buyer
For faster service, start your application online. A Rivermark mortgage professional can get you pre-approved quickly. A pre-approval shows realtors that you are a serious buyer and can help to speed up the transaction when you’re ready to buy. Call us at 503.906.9497.
If you are new to buying a home, learning the nuances of mortgages can be daunting. At Rivermark, we aspire to help inform those making major financial choices, so we’d like to answer a very common question: should you choose a fixed- or adjustable-rate mortgage?
When it comes to debt or large expenses, there are a lot of options. If you own your home, you may be able to utilize the equity in your home to access funds. Knowing the difference between a Home Equity Line of Credit and a Home Equity Loan can play an important role in making a good financial decision.
With housing values on the rise in many areas, you may be thinking about selling or updating your own property. Whether you're planning on entering the real estate market or you simply want to make your personal space more functional and enjoyable for you, here are some things you can do to improve the value of your home.
*Available for primary residence purchases only up to 100% LTV. Applicants must meet credit and ability to repay requirements. This is an 80/20 mortgage loan. A first mortgage (5/1 ARM) of $160,000 at 3.875% with an APR of 4.33% has principal and interest payments of $752.38 for 60 months. Adjusts no more than 2% annually after 60 months. Rate increases are limited to a maximum of 6% over the initial rate during the lifetime of the loan. A second mortgage of $50,000 borrowed at 6.99% with an APR 6.99% will have principal and interest payments of $309.88 for 240 months. Tax and insurance payments not included in examples. Property hazard insurance is required. 3% seller concessions allowed with 2 months PITI reserves. 0% seller concessions without 2 months reserves. No gift funds allowed towards closing costs. Escrow account required for taxes and insurance.
**$899 origination fee is based on primary borrower having an open Rivermark checking account and debit card at time of closing ($1,199 without checking). Assumes no other loans or liens on subject property. Actual APRs for individual loans may differ due to individual circumstances such as credit qualifications, increased loan to value, loan purpose (such as investment property) and property type. Adjustable Rate Mortgage (ARM) interest rates and payments are subject to change during the loan term. That change can increase or decrease your monthly payment. Consult a tax adviser for information regarding the deductibility of interest and charges. Must be a member to borrow.
