Best Oregon Mortgage Lenders

Best Oregon Mortgage Lenders After Bankruptcy In 2022

Gustan Cho Associates are mortgage brokers licensed in 48 states

In this blog, we will discuss the best Oregon mortgage lenders with hundreds of loan options for owner-occupant homes, second homes, and investment properties. As many of our readers know, the team at Gustan Cho Associates, Empowered by NEXA Mortgage, LLC, NMLS 1660690 is headquartered in Chandler, Arizona, and is headed by CEO Michael Kortas and President Mat Grella. NEXA Mortgage, LLC. is licensed in 48 states and has lending relationships with over 160 wholesale mortgage lenders with hundreds of mortgage loan programs.

Best Oregon Mortgage Lenders Being Able to Do Loans Other Can’t

The team at Gustan Cho Associates has a reputation for being able to do loans other lenders cannot do. Over 75% of our borrowers at Gustan Cho Associates are folks who could not qualify at other mortgage lenders. Unlike other mortgage bankers, we are not limited to FHA, VA, USDA, and conventional loans.

What Credit Scores Are Required After Bankruptcy For a Mortgage?

There is a reason why Gustan Cho Associates is called a one-stop mortgage shop in Oregon. We literally have hundreds if not thousands of mortgage options for owner-occupant primary homebuyers, second-home buyers, and real estate investors. Some of the hundreds of mortgage options we have for our borrowers in Oregon with our team of over 170 wholesale mortgage lenders are non-QM loans, bank statement mortgages, FHA and VA loans during Chapter 13 Bankruptcy, no waiting requirements after Chapter 13 Bankruptcy on FHA and VA loans, DSCR mortgages, fix and flip mortgages for real estate investors, all in one mortgage loans, homes for heroes for police officers and first responders, doctors mortgage loan programs, condotel financing, asset-depletion mortgages, land acquisition and construction loans, all in one construction mortgages, hard money loans, mobile home mortgages, manufactured home loans, and hundreds of other niche mortgage loan programs.

Oregon Mortgage Brokers For Low Credit Score

The team at Gustan Cho Associates, Empowered by NEXA Mortgage, LLC is currently focused on expanding our business platform into more states across the nation. Our main focus for the calendar year is 2022. The team at Gustan Cho Associates is based in Oakbrook Terrace, Illinois NMLS 2315275, and has applied in all 48 states NEXA Mortgage, LLC is licensed. Our branch is either approved or has NMLS licenses pending in all 48 states. Our goal is to be licensed and approved in 48 states in the coming days and weeks. We are excited to announce our services are now available in most of the Pacific Northwest, including Oregon, Washington, Colorado, Alaska, Arizona, Oklahoma, and dozens of other states. Oregon is not only a fantastic place to visit but a great place to live. In this blog, we will detail a couple of facts about Oregon and a brief overview of the mortgage programs Gustan Cho Associates have to offer.

Buying a House After Bankruptcy in Oregon

There is a reason why many people move to Oregon to buy a home and call the state their forever home.  First, let us give you a little history lesson on the state of Oregon. The Oregon region was purchased during the Louisiana Purchase in 1803. Oregon did not become an official state until 1859 when it was ratified as the 33rd state of the union. This area was originally mapped out by the great explorer’s Lewis and Clark. Although historians disagree on how the name Oregon came to be, the most agreed-upon theory is that it came from the French word “Ouragan” meaning hurricane. Besides the rich history of the state, Oregon has breathtaking landscaping, mountains, and forests. The vistas of Oregon are incredible. There are more homes in demand than inventory throughout the state of Oregon.

Best Oregon Mortgage Lenders For Bad Credit

Because there are incredible winds throughout the state of Oregon. The “unofficial” nickname of the state is the “beaver state” because early settlers trapped beaver for many different purposes, but mainly for their fur. The beaver is now the official state animal of Oregon. There are some archaeologists who believe human beings may have lived in the Oregon region for over 15,000 years. Then much later, Native Americans settled in this region.

What Is The State of Oregon Famous For That Attracts Out-of-State Homebuyers

You may have heard of the Tillamook tribe (Tillamook is now a brand of one of the largest producers of cheese in the world). Europeans are expected to have arrived in modern-day Oregon at some point in the 1500s when both Spain and Great Britain claimed the region. Before Oregon was an official state, American settlers utilized the Oregon Trail as a route to settle the region. You may be familiar with the modern-day video game, Oregon Trail, but this trail was a 2,000-mile route for wagon trains. Popularized by the television show, “1883”, marks called “ruts” from the wagons can still be seen on this trail today. This trail gave access to many Americans as well as Europeans to come to settle the land.

What Is The State History of Oregon?

The Pacific Northwest is a beautiful area of our country. Oregon is bordered by California and Nevada to the south, Idaho to the east, Washington to the north, and the beautiful Pacific Ocean to the west. This state has oceanfront as well as mountainous regions and some highly valuable fossil fuels. The eastern states consist of the Columbia plateau which is home to the deepest river gorge in North America. The canyon is well over a mile deep.

Oregon Ranked As Top Destination To Buy Second Homes

The Beautiful Lakes and Mountains made Washington the top destination to buy second homes according to a recent survey by The Cascade mountains including the famous Mount Hood and Crater Lake spread out from north to south throughout the state. Crater Lake is the deepest lake in the United States with a depth of almost 2,000 feet. In the Klamath mountain range, you will find numerous cafes and fun exploring. Current residents, as well as visitors, love the vast outdoor activities available throughout the state including hiking, fishing, hunting, skiing and snowboarding, white water rafting, and some, most importantly drinking beer. Portland is home to more breweries per capita than any city in the nation. There are some great spots to grab a beer in the city of Portland. According to Dale Elenteny of Gustan Cho Associates, Suncadia, Washington is the top destination spot in the country for the best place to buy mountain and lake homes as second and vacation homes. Here is what Dale Elenteny said about buying a mountain and lake second and/or vacation home in Suncadia, Washington. Under two hours from Seattle Suncadia is surrounded by more than 6,000 acres of lush, mountainous landscapes that attract second-home buyers looking for a laid-back, year-round retreat and luxury resort amenities.

Home Loans After Bankruptcy For Conventional and Government Loans

We are excited to offer our mortgage services in Oregon. We are making it a priority to be licensed in as many states as possible so we can help more people across the nation. Many individuals are struggling to qualify for a mortgage as they recover from the coronavirus
pandemic. A financial recovery can be difficult during these times of uncertainty and record-breaking inflation. But our team is here to help.

 Best Oregon Mortgage Lenders With No Overlays

We are able to offer a no overlay mortgage process. Many lenders have added strict overlays to their mortgage programs making it harder
ever to qualify for a home loan. Gustan Cho Associates do not have any additional overlays on any Conventional, FHA, VA, or USDA mortgage loan program in the state of Oregon. The team at Gustan Cho Associates is made up of a highly skilled team of loan originators, mortgage processors, and additional support staff. We have over 170 wholesale mortgage brokerage outlets available to us which gives us access to more mortgage programs than most banks and other lending institutions. Our wide range of mortgage programs can be the difference between you continuing to pay rent or finally being available to purchase a home. We also have access to some of the most competitive rates in the industry. Besides Gustan Cho Associates, the following lenders have no mortgage overlays on government and conforming loans in Oregon:

  1. PRMG Wholesale Division in Salem, Oregon
  2. Spout Mortgage in Portland Oregon
  3. Guild Mortgage in Beaverton, Oregon

List of The Top 5 Best Oregon Mortgage Lenders After Bankruptcy

In this section, we will list the top 5 Best Oregon Mortgage Lenders After Bankruptcy With No Overlays. Why utilize the Team at Gustan Cho Associates?  Over 75% of our borrowers are folks who could not qualify at other lenders due to last-minute mortgage denial, or due to lender overlays. Here are the top 4 best Oregon Mortgage Lenders after bankruptcy. Gustan Cho Associates came in third place out of the four companies.

  1. Equity Prime Mortgage 
  2. Carrington Mortgage Services in Rhode Island
  3. Gustan Cho Associates
  4. Village Capital Investments
  5. Mortgage Solutions Financial of Colorado

The top 5 best Oregon mortgage lenders after bankruptcy.

FHA Loans While on Active Chapter 13 Bankruptcy In Oregon

Our team specializes in difficult lending scenarios such as purchasing or refinancing during an active Chapter 13 Bankruptcy payment plan. Most banks and lending institutions have had strict overlays surrounding bankruptcies in the past. Our team specializes in the manual underwriting process for both FHA and VA mortgage loans. If you have a unique qualifying scenario, you will want a team that knows how to get your file to the finish line.

Best Oregon Mortgage Lenders Experts With Difficult Loans 

Best Oregon Mortgage Lenders Who Can Close Difficult Loans on Time

Dealing with a mortgage loan officer who is not familiar with this process can lead to a major headache or even the deal falling through at the last second. Since the housing market is so competitive today, missing a closing date could be life or death for the transaction. We know the qualifications for qualifying for a home loan during bankruptcy like the back of our hands. From the trustee’s approval, through the closing date, you can rely on Gustan Cho Associates in every step of the process.

Getting Pre-Approved After Being Denied By Other Lenders

We understand we will not be able to help everybody, but our highly skilled team will work with you as long as it takes to qualify for the home of your dreams. Many Gustan Cho Associate clients reach out to us and have no idea why they were turned down by another lender. The previous lender simply tells them they do not qualify and that is the end of their experience.

Mortgage Loans For Recent Late Payments

With our team, even if you do not qualify today, we will work with you and come up with a customized financial plan to help you qualify for a home loan as soon as possible. Buying a home is a long-term investment and you want to make sure you are working with a trusted professional. We encourage you to reach out to our team for a second opinion as you could be running into a lender overlay. With interest rates on the rise, getting into a home sooner than later could save you thousands of dollars over the life of the loan.

Non-QM Loans In Oregon

Besides the standard mortgage programs that most borrowers are familiar with, the Gustan Cho Associates also have access to NON-QM mortgage loans, commercial loans, and loans for purchasing vacant land. Our team is highly skilled in the NON-QM mortgage realm and we have numerous different investors who allow these programs. This helps us secure the most
competitive NON-QM program for you.

Apply For a Mortgage Now With the Best Oregon Mortgage Lenders

Bank Statement Loans for Self-Employed Borrowers

A quick synopsis on NON-QM mortgage loans: these programs are geared toward self-employed individuals as well as real estate investors. Many self-employed borrowers utilize tax write-offs when filing their federal income tax returns. A lender must qualify you based on the information sent to the Internal Revenue Service (IRS). This can significantly impact your mortgage qualifications. While certain write-offs can be added back in as qualifying income, usually utilizing write-offs will minimize what you qualify for an agency mortgage loan (Conventional, FHA, VA, or USDA loan program).

Why Are Non-QM Mortgages So Popular in Oregon?

This is the main reason NON-QM mortgage options are so popular. A bank statement mortgage loan will utilize your business-related deposits shown on your bank statements as qualifying income. As a general rule of thumb, we can utilize 50% of your deposit as qualifying income. The other 50% of your deposits are considered business expenses. You must be the sole owner of your business. There are also great mortgage programs geared toward investment opportunities.

Need To Qualify With the Best Oregon Mortgage Lenders?

DSCR Loan Options For Oregon Real Estate Investors

For real estate investors, utilizing your tax returns can be a nightmare. We offer numerous debt service cover ratio (DSCR) mortgage options. These options will allow you to utilize the rental income from the property to cover the total mortgage payment. The general rule of thumb for these programs is; that if the rents received from the property cover the total mortgage payment (including homeowners’ insurance, property taxes, and any homeowner’s association dues), you can utilize this mortgage program. With the high number of people moving to Oregon, this could be a great time to utilize one of these investment properties’ mortgage loans and start building wealth.

Starting The Mortgage Process With a No Overlays Lender

After reading this article, we hope you understand we are not your average mortgage lender. We have more programs and knowledge compared to most of our competition. We would love the opportunity to earn your business or put a second set of eyes on your mortgage application. Since we are one large team, we are available on nights and weekends to assist you. For more information on mortgage programs available in Oregon, please contact Mike Gracz on 800-900-8569. You may also reach Mike via text message or send an email to The Gustan Cho Associates prioritize educating our clients to help them qualify for a mortgage and create
wealth through building equity. We look forward to hearing from you.

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