FHA Loans Oregon

Archive for the ‘FHA Streamline Refinance’ Category

Want a lower mortgage payment? Want a lower interest rate? Got an FHA mortgage? Property value an issue? FHA Streamline Refinance is the answer. Read More

Well it really isn’t the last day for case numbers, but after this weekend, any new case numbers for FHA loans will have a 2.25% Up Front Mortgage Insurance Premium instead of the current 1.75%. This is a substantial amount when talking about a $200,000 loan in Lane County, that is an additional $1,000 cost of getting the loan. Read More

All new FHA Home Loan case numbers assigned on or after April 5, 2010 will have an increased Up Front Mortgage Insurance Premium (UFMIP). The increase will be from the current 1.75% to 2.25%. On a $200,000 loan in the Eugene/Springfield Oregon area, this is an additional $1,000 cost. By beating this deadline on a purchase you will also qualify for the First Time Home Buyer Tax Credit if eligible. Read More

Saturday I posted information about the FHA Good Neighbor Next Door (GNND) program and how you could purchase a home in Portland Oregon and only pay half of the offered price. Today, I am starting a series (this is part 1) that will answer several frequently asked questions (FAQ) about the GNND program. Here is the link to the currently offered properties. Read More

One of the best things about having an FHA loan in Eugene/Springfield, OR in the past was the ability to get a lower rate with a “Streamline” refinance. In this process, about all you had to do was prove you were current on your mortgage, nothing else was required. That all changed on Friday when FHA issued new rules for the FHA “Streamline” refinance program though their mortgagee letter #2009-32. Surprisingly, FHA actually wants you to be able to make your payment too. (LOL) So, they want proof that the borrower is employed and has income. Read More