You can use an FHA Refinance Mortgage Loan to pay off an existing Land Sales Contract or Contract for Deed in Eugene or anywhere in Oregon. The FHA Refinance Mortgage Loan allows a homeowner who does not have a vested interest in the title to the property but who does have valid Land Contract, Contract for Deed, or other similar instrument, to pay it off with an FHA Refinance Mortgage Loan.

It can be done in one of two ways:

• An FHA Refinance Mortgage Loan
• An FHA Purchase Mortgage Loan

If the homeowner has lived in the property for at least 12 months, the new FHA Refinance Mortgage Loan will be based on the current appraised value of the Real Estate. It will also be limited to the maximum loan amount for the county.

If the homeowner has lived in the property for less than 12 months, the new Oregon FHA Mortgage Loan will be based on the lesser of:

• The current appraised value, OR
• Documented costs to acquire the property including;
  • Purchase price
  • Rehab Costs
  • Repair Costs
  • Renovation Costs
  • Closing Costs
  • Discount Points

In some cases, the borrower may even be able to pull cash out with the Oregon FHA Refinance Mortgage Loan.

You can apply here today for an FHA Refinance Mortgage Loan in Oregon. You can reach me at 541-342-7576/541-221-3455 or e-mail at eugeneloanguy@gmail.com. I am never too busy to help you with your financing needs.

For a Quick FHA Refinance Quote, please complete the following form:

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