Blog Arbor Lodge 0% Down Success Story!

0% Down Success Story!

By Reg Martocci, October 21, 2020

There are lots of great programs out there to help buyers become home owners with a variety of down payment options.  A lender colleague of mine sent me a couple who were using the 0% down program.  It’s a great tool for people who can clearly make a mortgage payment but don’t have a huge savings, so basically MOST people.  The hard part in the Portland market is that you’re competing with multiple offers who usually have large down payments.  The reason why it puts the buyer at a disadvantage is because there are several components to an offer that make it strong.  There’s price, down payment, earnest money deposit, inspection period, closing costs, etc….

From a seller’s perspective, a 0% down payment means that the bank is 100% responsible for the loan if the buyers should stop making their payments.  In a real estate deal, when it’s time for the appraisal they will be looking hard at the house to make sure there’s nothing that might put the bank at risk for taking on 100% of the loan.  What that can translate to is the seller having to make repairs in order for the buyer to get their loan.  Most often a seller will go with not just the highest price but the strongest down payment because it puts them at less of risk.

All that said, it’s a challenge to find a house without multiple offers.  These clients were very specific about what they wanted.  It had to be a 3 bedroom in Kenton or Portsmouth.  We looked at all the old inventory to see if there were any overlooked gems but there wasn’t too much sitting there.  It didn’t take long before a house popped up directly across from my old house in Kenton where my kids live half the time with their other mom.  I happened to know the seller because he was my neighbor for 10 years.  The buyers loved the house and location so we wasted no time getting our offer in.  Miraculously, they accepted it the same day.

The rest was smooth sailing because the hardest part was finding the right house and finding a seller who was willing to work with us.  I thought this process might take months but we were able to find it in a matter of weeks.  Now we have some awesome new queer neighbors and kids across the street.  Congrats Jean and Sarah!!!  Come borrow eggs or butter anytime!

Reg Martocci


Originally from Worcester, Massachusetts my love affair with real estate began when I was 19 and owned my first triple-decker. Being a landlady at 19 quickly taught me  the importance of learning DIY skills to turn an old junky three-decker into a place someone would love to call home.  There is nothing more satisfying to me than watching a property transform.  Since then, I have been fascinated by the idea of home and the aesthetics that appeal to people and warm a space up. What is it about a space makes a person feel at home?  Is it an open floor plan? A garden? Hardwood floors or a south facing kitchen?  It is different for everyone and I would love the opportunity to help you find it. I graduated from Umass Amherst with a degree in Sustainable Living and Natural Health and naturally moved to Portland to find my people. Waiting tables and bartending all over Portland for the last 10 years has allowed me to really get to know many of the neighborhoods this beautiful city has to offer.  I've lived in and rented houses all over Alberta, Concordia, Hawthorne and Division until buying a house and settling in Kenton two years ago. If I'm not working you can bet that I'm somewhere in Oregon thrifting, at the river, working on my house, or catching happy hour with friends. Reg Martocci 508-340-1456 t 503-961-8224 f
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  • T: 508-340-1456
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