Yamhill County Home Loans

By
Mortgage and Lending with Evergreen Home Loans NMLS #150073
Yamhill County Home Loans

Yamhill County, Oregon is a special place. It has some of the most beautiful real estate in Oregon. While most of Yamhill County is rural with stunning vistas, it is also within an easy drive to Portland, with everything a big city has to offer. Drive the other direction and within an hour you are at the Oregon Coast.

McMinnville is the county seat and home to Linfield College and the Evergreen Air Museum. Newberg is the next largest town, and home to George Fox University. Yamhill County is world re-known for it's wine industry, rivaling Napa, Ca in quality.

If you are looking at purchasing a home in Yamhill County, you will find both opportunities and challenges.

Yamhill County Loan Programs

USDA Guaranteed Rural Home Loan - One of the best opportunities for home loan financing is that all of Yamhill County, except for the city limits of McMinnville, qualify for financing through the USDA Guaranteed Rural Home Loan program. The USDA Guaranteed Rural Home Loan is a special government insured home loan program for qualified borrowers with no down payment. For more information on the USDA Guaranteed Rural Home Loan for Yamhill County Click Here.

We are one of the Northwest's largest providers of USDA Guaranteed Rural Home Loans.

Hobby Farms - One of the challenges in financing a home in Yamhill County is that many of the rural properties have acreage and a small income producing component. Tax Code may allow for a tax break if a portion of the land is kept in production. i.e. raising a few cows, renting a stall out for a horse, or growing grapes. (Please consult a CPA or Real Estate attorney as I am neither).  Most lenders will not accept a loan with Schedule E income from the property.
 

We have 3 solutions for financing a Yamhill County Hobby Farm.

  • If the loan is under $417,000 we may have the ability to get a variance from Fannie Mae to allow for a small amount of income to be derived from the property. The key is that it cannot be a farm.
  • We also have an Industry leading Portfolio loan that goes up to $1.5 million with extremely competitive rates. Since it's our money and we service the loan, we will use common sense underwriting to assess the risk.
  • We can also broker the loan to several lenders who specialize in rural properties.
If you are looking at purchasing acreage property in Yamhill County, you really owe it to yourself to give us a call!

Manufactured Homes - There are many wonderful properties in Yamhill County that have manufactured homes on them. Financing has become tougher, but we have several options available. Ask us how.

Of course, we also provide conventional and FHA financing, including the 203k Rehab loan and the Section 184 Native American Loan.

 
If you are looking for a lifestyle change, or are already calling Yamhill County home, give us a call and let us help you finance the home of your dream.

Call now to 503-421-0096 and ask for Larry,
or
click here to ask a question .

 


 

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Larry H Morris

Larry Morris, NMLS 150073
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