Understanding Your House Payment: A Breakdown of PITI and PMI

When purchasing a home in Lincoln County, Oregon, your monthly mortgage payment typically consists of several components beyond just the loan repayment. Understanding these elements—commonly abbreviated as PITI (Principal, Interest, Taxes, Insurance) plus PMI (Private Mortgage Insurance) when applicable—can help you budget accurately and avoid surprises. Let's break down each component with specific information for our coastal region.

Principal: Building Your Ownership Stake

What It Is: Principal refers to the portion of your payment that reduces the actual loan balance. This is the amount that goes toward building equity in your home.

Local Considerations:

  • The median home…

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The Essential Guide to Mortgage Pre-Approval:

What It Is and Why It Matters

Mortgage Approval
In today's competitive housing market, being prepared is more important than ever. One of the most powerful tools in a homebuyer's arsenal is mortgage pre-approval. This crucial first step not only helps you understand your budget but also signals to sellers that you're a serious, qualified buyer. This guide will walk you through everything you need to know about mortgage pre-approval—from what it is to why it matters and how to get it.

What is Mortgage Pre-Approval?

Mortgage pre-approval is a preliminary evaluation by a lender that indicates how much you might be able to borrow for a home purchase. During this process, the lender reviews your financial…

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New Listing! By Advantage Real Estate agent Randy Olsen

Home for sale in Toledo, Oregon

House for sale - 360 5th Street Se, Toledo, Oregon360 5th Street Se, Toledo, OR 97391

Step into this thoughtfully designed modern home where spacious living meets coastal convenience in charming Toledo, Oregon. Built in 2012, this well-maintained property showcases an airy, open floor plan crowned by soaring vaulted ceilings. Nestled in Lincoln County just minutes from Newport and the Pacific Ocean, this home offers single-level living at its finest.

Arrive home to comfort with your choice of entrances - through the attached two-car garage or the covered walkway leading to your front door. Inside, the flowing layout reveals a bright living room that seamlessly connects to a contemporary kitchen. Two…

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Oceanfront Dreams: Exploring Homes for Sale on the Oregon Coast

Benefits of Owning a Home on the Oregon Coast

Owning a home on the Oregon Coast offers a unique lifestyle that blends the tranquility of nature with the vibrancy of coastal living. One of the primary benefits is the breathtaking scenery that surrounds you. Imagine waking up each morning to panoramic views of the Pacific Ocean, with the sound of waves crashing against the shore serving as your daily soundtrack. This breathtaking backdrop not only enhances your quality of life but can also significantly improve your mental well-being, providing a serene environment that promotes relaxation and peace.

Another notable advantage is the abundance of recreational activities available at…

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The Ultimate Home Inspection Checklist for Lincoln County, Oregon

A thorough home inspection is crucial for properties in Lincoln County, where our unique coastal environment creates specific considerations. This comprehensive guide will help you understand what to look for during a home inspection in our area. Find our recommended local home inspectors and other valuable resources at:
Advantage Real Estate | Buyer & Seller Resources

Exterior Inspection

Foundation and Structural Elements

  • Examine foundation walls for cracks or settling
  • Check drainage systems and grading around the property
  • Look for signs of water damage or moisture issues
  • Inspect retaining walls for stability
  • Verify proper drainage for local weather…

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Bayfront Condo Life | Newport, Oregon

Living in a Newport, Oregon Bayfront condo offers a lifestyle that combines natural beauty, convenience, and tranquility, making it an ideal choice for those seeking a peaceful yet vibrant living environment. The advantages of living along this picturesque body of water are undeniable, from breathtaking views to enriching experiences.

Here are six compelling benefits of choosing a Newport Oregon bayfront condo:

Aerial view of Newport, Oregon bayfront condos

1. Breathtaking Bay Views

Wake up to stunning panoramas of Yaquina Bay, where yachts and fishing boats glide across majestic waters in the golden morning light. Your condo provides a front-row seat to an ever-changing seascape filled with marine life and coastal birds, creating a serene…

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Price Reduction! Listing By Advantage Real Estate agent Marilyn Grove

52 SW 95th St, South Beach, OR

Home for sale, 52 SW 9th St. South Beach, OR

Discover a prime real estate opportunity in South Beach, Oregon: a meticulously maintained 3-bedroom, 3-bath home that combines modern living with timeless comfort. Recently reduced in price, this property offers exceptional value for discerning buyers seeking both style and functionality.

The home boasts contemporary updates that elevate its appeal, including a brand-new roof equipped with innovative leaf guard gutters—a feature that not only enhances the property's aesthetic but also provides long-term protection against maintenance challenges. The spacious and thoughtfully designed layout creates an inviting atmosphere perfect for both…

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Homes for Sale Near Me:

Your Comprehensive Guide to Finding the Perfect Property with Advantage Real Estate

At Advantage Real Estate, we understand that every home search is a unique journey. Whether you're taking your first steps into homeownership, seeking more space for a growing family, or looking to simplify your living situation, our comprehensive online tools and personalized approach make finding your ideal home easier than ever.

Our Diverse Clientele: Three Paths to Home Ownership

First-Time Homebuyers: Embarking on a Exciting Adventure
For many, purchasing a first home represents a milestone of independence and financial growth. Our first-time homebuyers are typically young professionals, newlyweds, or individuals ready to transition…

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Habitat for Humanity of Lincoln County: Community Home Repair Program

Habitat for Humanity of Lincoln County (HFHLC) is committed to making a tangible difference in the lives of low-income homeowners throughout Lincoln County, Oregon. One of its most important initiatives is the Community Home Repair Program, designed to help local homeowners address critical home repair needs. These repairs, focusing on health, safety, and accessibility, aim to preserve affordable housing and enable homeowners, especially seniors, to stay in their homes for as long as possible.

This program serves individuals and families who face financial difficulties and are unable to maintain their homes without external help. HFHLC’s program not only fixes structural and…

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New Listing! By Advantage Real Estate broker Freddy Saxton

Home plus Triplex for sale in Toledo, Oregon.
Home plus Triplex for sale Toledo Oregon534-546 Nw Skyline Drive, Toledo, OR

Exceptional Lincoln County investment opportunity!

This unique property includes a well-maintained 3-bedroom, 2-bath home alongside an adjacent triplex, featuring three 2-bedroom, 1-bath units with a strong rental history and long-term tenants.

The home sits on over half an acre, while the triplex occupies a separate lot of approximately one-third of an acre, combining for a total of .87 acres.

Nestled in a desirable Toledo, Oregon neighborhood and located within city limits, this property offers both flexibility and potential. While being sold together, the triplex is on a separate tax lot,…

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