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Mortgage Loans in Portage, IN

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Mortgage Loan

How the process works

1

Loan Application & Documentation

Complete your loan application and send us your required documentation.

2

Review

Review your loan documentation, your preapproval is in process.
3

Preapproval

Congratulations! You’re Preapproved!

4

Accepted Offer

You have found a home and have received an accepted offer.
5

Finalizing Your Application

You submit additional documents so that we can submit your file into underwriting and get a conditional approval.
6

Appraisal

Let’s get the value of your new home!

7

Initial Closing Disclosure

This is where you will see the initial breakdown of your loan.

8

Clear To Close

Time to schedule your closing

9

Wire Funds for Closing

Never wire funds without speaking to us.
10

Final Closing Disclosure

This is the final breakdown of your loan.
11

Closing

Sign all of your documents with the Title Company, move into your new home, and make some AMAZING memories.

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All about Portage, IN

Portage is a city in Portage TownshipPorter County, in the U.S. state of Indiana, on the border with Lake County. The population was 37,926 as of the 2020 census. It is the largest city in Porter County, and third largest in Northwest Indiana.

Source: https://en.wikipedia.org/wiki/Portage,_Indiana

History of Portage, IN

Prior to European settlement, Native Americans lived in Northwest Indiana. Mound Builders left a mound in the area now known as McCool, though the mound was destroyed in the early 1900s. Following the Mound Builders, the Wea tribe inhabited the area. The Wea were forced south by the Potawatomi.

Before Portage became a town, it consisted primarily of three separate communities in addition to much farmland. They were named McCool, Crisman and Garyton. In 1950, those communities only had 2,116 residents. La Porte County maintained jurisdiction over Porter County in 1835, and founded Portage Township that year.

After the war, the economy remained strong because of the high demand for automobiles and appliances, both of which the steel was produced at the steel mills. The population of post-war Portage grew very quickly. In the early 1950s, people came from Kentucky, southern Indiana and Illinois. Most were seeking the steady salary available in the steel mills and related industries.

National Steel opened a plant along the shore of Lake Michigan in Portage in 1959. This brought in about 1,600 new jobs. The Port of Indiana was also built in 1961 to accommodate trade with the world via Lake Michigan. In 1963, Bethlehem Steel began construction of a plant which was located partly in Portage. This project brought about 6,000 jobs to the area.

In 1959, Portage was incorporated as a town. Ogden Dunes and South Haven were excluded because the residents of these areas did not wish to be included in the town. Due to the surge of population after the war, many farmers were selling land to be subdivided into lots for families to build homes. In 1967, Portage officially became a city. During the 1950s and 1960s, the city of Gary was going through a time of racial strife. White people of Gary were seeking a way out of the turmoil, which drew many people to Portage during this time.

Portage is still a heavily industrial city. While primarily dependent on the steel industry, the 1980s brought a decline in the steel industry. As a result, C.O.I.L. (the Community Organization on Industrial Location) was formed. This organization promotes diversified industry in the area. They have had part in developing the Coca-Cola bottling plant and further development of the Port of Indiana. Very few farms are still active in the Portage area. However, many original descendants of founding families are still in the area.

Portage has seen many new green technology industries locate to the community since the early 2000s including Fronius USA. In 2016, the City opened a new police station and Fire Station in the downtown corridor. The new police station is triple the size of the former station on Irving Street.

Source: https://en.wikipedia.org/wiki/Portage,_Indiana

Geography and Demographics of Portage, IN

Portage is located at 41°34′55″N 87°11′12″W (41.581850, −87.186553).

According to the 2010 census, Portage has a total area of 27.614 square miles (71.52 km2), of which 25.63 square miles (66.38 km2) (or 92.82%) is land and 1.984 square miles (5.14 km2) (or 7.18%) is water.

As of the census of 2010, there were 36,828 people, 13,992 households, and 9,751 families living in the city. The population density was 1,436.9 inhabitants per square mile (554.8/km2). There were 14,807 housing units at an average density of 577.7 per square mile (223.1/km2). The racial makeup of the city was 83.6% White, 7.3% African American, 0.4% Native American, 0.9% Asian, 5.2% from other races, and 2.6% from two or more races. Hispanic or Latino of any race were 16.4% of the population.

There were 13,992 households, of which 36.3% had children under the age of 18 living with them, 49.0% were married couples living together, 14.6% had a female householder with no husband present, 6.1% had a male householder with no wife present, and 30.3% were non-families. 24.3% of all households were made up of individuals, and 9% had someone living alone who was 65 years of age or older. The average household size was 2.61 and the average family size was 3.10.

The median age in the city was 36.4 years. 25.7% of residents were under the age of 18; 8.5% were between the ages of 18 and 24; 27.5% were from 25 to 44; 26.2% were from 45 to 64; and 12.1% were 65 years of age or older. The gender makeup of the city was 48.4% male and 51.6% female.

There were 12,746 households, out of which 34.7% had children under the age of 18 living with them, 53.7% were married couples living together, 12.2% had a female householder with no husband present, and 29.3% were non-families. 23.9% of all households were made up of individuals, and 9.1% had someone living alone who was 65 years of age or older. The average household size was 2.60 and the average family size was 3.09.

In the city, the population was spread out, with 26.0% under the age of 18, 9.4% from 18 to 24, 29.9% from 25 to 44, 22.8% from 45 to 64, and 11.8% who were 65 years of age or older. The median age was 35 years. For every 100 females, there were 94.2 males. For every 100 females age 18 and over, there were 91.0 males.

Source: https://en.wikipedia.org/wiki/Portage,_Indiana

Thomas Faille HomeTown Lenders Team

Thomas Faille

Producing Branch Manager  //  NMLS #65084

Tom has been in the finance industry for 22 years and can assist in the loan process for most of the 50 states. He is a wonderful husband to his wife, Kathy, and proud father to Jake and Ava. In his spare time, he enjoys watching College and Professional football rooting for Notre Dame and The Raiders.

thefailleteam@gmail.com(219) 707 8106
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Thomas Faille HomeTown Lenders Team