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Applying A Portland Home Loan To The Neighborhood:
As with any community, there are neighborhoods that are more desirable than others. For prospective homeowners in the Tri-county area, the neighborhood can make the difference between obtaining a good Portland home loan and one that is less desirable. The characteristics of a loan that affect its desirability include the term, the required down payment, the interest rate and the closing fees and costs.
Portland sits in three counties. The majority of the city is located in Multnomah County, while extending somewhat into Clackamas County to the South and Washington County to the West. The city straddles two major rivers, the Willamette, which flows into the Columbia, which in turn heads west and ends up in the Pacific Ocean at Astoria, Oregon. Portland has been a major port for much of its life, although Seattle is now recognized as the preferred shipping center, thanks to its deep water port.
As with any community, there are neighborhoods that are more desirable than others. For prospective homeowners in the Tri-county area, the neighborhood can make the difference between obtaining a good Portland home loan and one that is less desirable. The characteristics of a loan that affect its desirability include the term, the required down payment, the interest rate and the closing fees and costs.
Portland sits in three counties. The majority of the city is located in Multnomah County, while extending somewhat into Clackamas County to the South and Washington County to the West. The city straddles two major rivers, the Willamette, which flows into the Columbia, which in turn heads west and ends up in the Pacific Ocean at Astoria, Oregon. Portland has been a major port for much of its life, although Seattle is now recognized as the preferred shipping center, thanks to its deep water port.
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Portland has five sections and 95 recognized neighborhoods. Each of these areas has distinctive characteristics and points of interest. Housing can be found in all areas of the city, although stringent land use planning may limit the type of housing that is available for prospective homeowners in certain areas.
Downtown Portland is in the Southwest part of the pentagon. It is formed around Pioneer Courthouse Square. This area has small square blocks and pedestrian-width streets. This area contains cultural, educational, retail, governmental and business buildings. It also has neighborhoods like Multnomah, Hillsdale, South Burlingame and South Portland. The residential houses are absolutely unique, and each neighborhood has retail and commercial districts defined. This neighborhood includes a 100 acre, formerly industrial area along the Willamette River being redeveloped as a high density mixed use neighborhood including over 5000 high-tech jobs and half as many residential units.
Northwest Portland includes Old Town Chinatown, the Northwest District and the Pearl District. Pearl District is a former industrial and warehouse area housing industrial buildings converted to lofts and new multistory condominiums. Nob Hill and the Alphabet Historic District has large Craftsman and Victorian style homes dating back to 1900. Sylvan, Forest Heights, Skyline and Willamette Heights neighborhoods are West Hills housing with larger view homes and open undeveloped lands and parks.
Downtown Portland is in the Southwest part of the pentagon. It is formed around Pioneer Courthouse Square. This area has small square blocks and pedestrian-width streets. This area contains cultural, educational, retail, governmental and business buildings. It also has neighborhoods like Multnomah, Hillsdale, South Burlingame and South Portland. The residential houses are absolutely unique, and each neighborhood has retail and commercial districts defined. This neighborhood includes a 100 acre, formerly industrial area along the Willamette River being redeveloped as a high density mixed use neighborhood including over 5000 high-tech jobs and half as many residential units.
Northwest Portland includes Old Town Chinatown, the Northwest District and the Pearl District. Pearl District is a former industrial and warehouse area housing industrial buildings converted to lofts and new multistory condominiums. Nob Hill and the Alphabet Historic District has large Craftsman and Victorian style homes dating back to 1900. Sylvan, Forest Heights, Skyline and Willamette Heights neighborhoods are West Hills housing with larger view homes and open undeveloped lands and parks.
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North Portland is a mixture of areas, including the University of Portland and the Port of Portland. Two World War II era neighborhoods include Vanport which was wiped out during a flood in 1948 and Portsmouth Neighborhood now being rebuilt as New Columbia. This area has single family homes, rental homes and public housing.
Northeast Portland has some of the oldest homes in Portland, as well as the most expensive, in the Alameda Ridge and Irvington areas. King neighborhood is a working-class neighborhood nearby. This area has both inner and outer sections with strong divisions geographically, culturally and ethnically. The inner area was once predominantly African American similar to most urban inner-city neighborhoods, but has now undergone gentrification. The Lloyd District is intended to be another mixed-use, high-density residential redevelopment area. It currently is home to several shopping areas.
Southeast Portland includes warehouses and blue-collar roots, but is also known for radical and subcultural active groups and businesses. A mix of backgrounds and housing includes the campus of Reed College and scenic park neighborhoods around Mt. Tabor. There are many options in neighborhoods and housing types. Choosing a location and obtaining a Portland home loan for funding makes a relocation to the City of Portland within the reach of many people.
Northeast Portland has some of the oldest homes in Portland, as well as the most expensive, in the Alameda Ridge and Irvington areas. King neighborhood is a working-class neighborhood nearby. This area has both inner and outer sections with strong divisions geographically, culturally and ethnically. The inner area was once predominantly African American similar to most urban inner-city neighborhoods, but has now undergone gentrification. The Lloyd District is intended to be another mixed-use, high-density residential redevelopment area. It currently is home to several shopping areas.
Southeast Portland includes warehouses and blue-collar roots, but is also known for radical and subcultural active groups and businesses. A mix of backgrounds and housing includes the campus of Reed College and scenic park neighborhoods around Mt. Tabor. There are many options in neighborhoods and housing types. Choosing a location and obtaining a Portland home loan for funding makes a relocation to the City of Portland within the reach of many people.
Westcorp Mortgage Group - Tigard, OR 97224
Office Phone: 503-789-6362 Fax: 503-620-1654
*We lend in the following states: Oregon, Washington and California. *Follow us on Facebook and Twitter.
We do business through out Portland and Vancouver. A Division of Mann Mortgage LLC NMLS - 2550
We do business through out Portland and Vancouver. A Division of Mann Mortgage LLC NMLS - 2550
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