Archive for the ‘FHA203K Streamline’ Category

Two listings of Eugene homes for sale by the Department of Housing and Urban Development (HUD) are reporting a price reduction today, possibly making them an even bigger deal. These homes, called HUD Homes on are listed the HUD website. These two properties are first offered to people in the Eugene/Springfield, Lane County Oregon area that are going to use them for their primary residence. If there is not enough interest, then they will be offered to anyone. Read More

As I stated yesterday, HUD Homes are available for the $100 down payment program. However, beside that, you can purchase a HUD Home with $100 down in conjunction with an FHA 203k Streamline purchase of your new home in the Eugene or Creswell Oregon area. Right now, the only HUD Homes listed in Lane County are in Eugene or Creswell. The list changes often however, and you probably should be checking often to see what is available. Read More

This question was posted on our website recently. It is a complicated question with a very simple answer. If you want to purchase a home that needs some repairs and would like to include the repairs in your loan, the way to do it is with an FHA 203k Streamline. This loan works no matter where you are and is one of the easiest ways to get your home in tip top shape once you purchase it. The Eugene/Springfield, Lane County Oregon area has some prime properties that this is an exceptional way to advance. Here is the question: Read More

WOW! There are changes, and then there are changes. FHA Commissioner David Stevens announced today a bunch of policy changes designed to strengthen FHA’s Capital Reserves. Those changes range from raising down payment requirements, to raising upfront and monthly mortgage insurance premiums to lowering the seller concessions. These are changes that can make huge differences in a person’s ability to actually get an FHA loan in the future. Read More

HUD announced Friday that the rules on flipping homes will be changing Feb. 1. This could have a huge effect on the Eugene/Springfield, Lane County Oregon market. This is being done in an effort to stabilize home values and improve conditions in communities where foreclosure activity is high according to HUD Secretary Shaun Donovan. I see this as being a boon to our are in getting rid of more of the foreclosures that have been plaguing our market. Under current rules, foreclosures that were still owned by the banks that purchased them could be bought with an FHA loan but any that were purchased from the bank had to be owned for 90 days before an offer could be made on them for an FHA loan. Read More