There are some pretty important changes coming in FHA loans that I wrote about earlier, but so far we don’t have those changes in place making purchases harder or more expensive in the Eugene/Springfield, Lane County, Oregon area. Those HUD rules don’t go into effect for some time, so it is still a great time to purchase a new home in Springfield or Eugene using FHA. The UFMIP (up front mortgage insurance premium) hasn’t increased yet but will, so take advantage of the lower amount now.

Additionally, the amount of seller contribution is still at 6% so you can make a great deal on a home and have the seller pay all of the closing costs and all you will have to pay is the 3.5% down payment and get a great interest rate and then a tax rebate if you are a first time home buyer. Talk about a win-win-win situation.

Rates will change. Seller contribution will more than likely be reduced. Prices will eventually go up. The First Time Home Buyer Tax Credit has an expiration date.  So, what are you waiting for? Call me (Fred Chamberlin) today at 541-342-7576/541-221-3545 cell or e-mail me and let’s get your path to home ownership started. It really is a great time to be a buyer. Alpine Mortgage Planning is located at 1200 Executive Pkwy, Ste., 100, Eugene OR 97401.

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