Beaverton Mortgage Broker: Home Loans in Washington County

Washington County's transfer tax dates to 1985 and survived the 1997 state law that bans new transfer taxes elsewhere in Oregon. On a $600,000 Beaverton home it comes to $600. Exemptions exist for gifts, inheritance, court-ordered transfers, deeds in lieu of foreclosure and sales under $14,000, each with its own filing.

For buyers, the practical points are:

• It appears on the settlement statement at closing, not as a recurring tax.
• Your agent should write who pays it into the offer. Local custom often splits it, but the parties can agree to anything.
• It is small compared with Washington State's excise tax, but it is the one line item that differs between Beaverton and a Portland or Lake Oswego purchase.

When you later sell, the net proceeds calculator deducts it automatically when you select Washington County. Refinances are not transfers and do not trigger it.

Beaverton's employers pay in layers. Fannie Mae and Freddie Mac treat variable income conservatively: a two-year average for bonus and commission, with a downward trend requiring explanation and often the use of the lower year. Agency guidelines do not directly address RSUs; individual lenders have their own policies, and a few jumbo and portfolio lenders are notably more flexible about counting vested stock compensation.

Documents to gather before you shop: two years of W-2s, year-to-date pay stubs showing base and bonus separately, your stock plan's vesting schedule and recent vesting statements, and the most recent brokerage statements if you plan to use stock sales for the down payment. Proceeds from selling vested shares are a routine source of funds, but the sale must be documented end to end.

Self-employed consultants and contractors are common here too; lenders generally want two years of tax returns, and some accept one year or bank-statement documentation. Frank will tell you which of his lenders fit your pay structure instead of forcing one lender's rules onto it.

Beaverton and the surrounding Washington County communities (Aloha, Cedar Mill, Bethany, Progress Ridge) have a large supply of attached housing, which is often the entry point for first-time buyers. For a condo, the lender reviews the association's questionnaire, budget, reserve study and master insurance policy. Fannie Mae's rules on reserves and deferred maintenance tightened after 2021, so a project that financed easily five years ago may need a closer look now. FHA requires the project to be on its approved list or to pass a single-unit review.

Dues count in your debt-to-income ratio. Special assessments for siding, roofs or envelope repairs, which are common on 1990s and 2000s projects in the Pacific Northwest, must be disclosed and can affect approval. Ask the seller for the association's minutes and reserve study early; it is the fastest way to spot a problem.

Fannie Mae's HomeReady and Freddie Mac's Home Possible allow 3% down within income limits; standard conventional loans allow 3% to 5% down for first-time buyers without income limits. FHA is forgiving on credit and debt ratios but carries mortgage insurance for the life of the loan at the lowest down payments. Eligible veterans can buy with nothing down and no monthly mortgage insurance through a VA loan.

The Oregon Bond Residential Loan program from Oregon Housing and Community Services provides either a reduced rate or cash assistance for closing costs, within income and price limits, and requires homebuyer education. Programs change and funding comes and goes; Frank confirms what is open when you are ready. See all loan programs.

Because assessed value does not reset on sale in Oregon, two neighboring homes can have very different tax bills depending on when they were built and how their maximum assessed value has grown. Newer Beaverton subdivisions and townhome projects have assessed values closer to market because new construction is an exception to the cap. Always pull the actual Washington County tax statement for a home you are considering and enter it in the payment calculator; it is more accurate than any percentage estimate.

Most Beaverton clients never need to visit. The application is online and secure, documents upload from your phone, and Frank's Status Updates cover application received, disclosures, appraisal, approval, clear to close and funded. Banks, mortgage bankers, and credit unions offer their own loans. A mortgage broker shops the market. Begin with the affordability calculator, then start a quote.