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Archive for February, 2009
February 25th, 2009 | 
Author: FHA Loan Limit increases for Lane County to $343,750
Last year, as part of the Housing Bill of 2008, HUD raised the FHA loan limits across the United States as a way to help people that were having difficulty refinancing their sub-prime mortgages. That temporary increase expired on Dec. 31, 2008 and the new minimum FHA loan limit went into effect for the Eugene/Springfield and Lane County area. Although still a decent limit, it did take a lot of the market out of FHA financing. Well, that changed this week. Read More
Posted in $8000 tax credit, Eugene/Springfield, FHA 203b, FHA Mortgage Loans, FHA203K Streamline, First Time Home Buyer, Government Loans, Mortgage Loans | 
Tags: $8000 tax credit, energystar, Eugene/Springfield Lane County Oregon, FHA 203b, fha 203k, First Time Home Buyers, Foreclosures, green lending, Mortgage Loans, Real Estate Loans, Stimulus Bill | 
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Going Green on Foreclosures with FHA 203k Streamline
I just posted this information on my other website, http://eugeneloanguy.com and wanted to make sure it got as wide a dissemination as possible. The problem with foreclosures taking down everyone’s home values cannot be over stated. I think this is one program that will definitely help with that problem. Bank owned properties are almost always in need of repair and the FHA 203k Streamline is an ideal product to handle that situation. Read More
Posted in $8000 tax credit, Eugene/Springfield, FHA Mortgage Loans, FHA203K Streamline, First Time Home Buyer, Government Loans, Mortgage Loans |
Tags: $8000 tax credit, energystar, Eugene/Springfield Lane County Oregon, fha 203k, First Time Home Buyers, Foreclosures, green lending, Mortgage Loans, Real Estate Loans, Stimulus Bill |
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FHA Myths and Misconceptions
(Originally published by Fred Chamberlin on Active Rain and then on http://eugeneloanguy.com)
There are a lot of common misconceptions about FHA mortgage loans that have been around for a long time. Anyone that got an FHA loan in the 80s or 90s had to go through a lot more paperwork and inspections than are required currently. One of the things that was required on an FHA loan was a compliance inspection by a certified FHA inspector, that is no longer required. This is from an August post of mine on Active Rain about myths about FHA loans.
I know there are Realtors out there that remember the bad old days of FHA financing. I still remember having to have and FHA certified inspector check over the house and make the sellers sweep up the basement or clean a spot on the carpet. Anyone remember the VC sheet (that hasn’t been that long ago)?Well, that isn’t the case anymore. FHA loans are nearly the same as conventional loans, except in some (many) cases better. Take a look at these common myths about FHA:
Myth: Takes more time processing.
Truth: Read More
Posted in Eugene/Springfield, FHA 203b, FHA Mortgage Loans, First Time Home Buyer, Government Loans, Manufactured homes, Mortgage Loans |
Tags: California, Eugene/Springfield Oregon, FHA 203b, FHA 203k Streamline, FHA Real Estate Loans, First Time Home Buyers, How to Buy a Home, Lane County, Mortgage Loans, Washington |
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