Archive for the ‘FHA203K Streamline’ Category

Now could be the right time to buy your new home and an FHA 203k Streamline may be the loan to make it possible. I try to keep track of the real estate market in the Eugene/Springfield/Lane County area. I work with several very exceptional Realtors® and know some of the things going on here. I also subscribe to several blogs and other services that keep me up on what is happening in our local market and just received one from Trulia which I found most interesting. Home values can vary widely for a number of reasons, including condition, location and urgency. Read More

FHA offers a benefit to their mortgage products that most people either are not aware of, or if they are aware of it, don’t think it is a great benefit. This is the Energy Efficient Mortgage which gives you the ability to add an additional $8,000 to your mortgage for energy related upgrades, either on a purchase or a refinance. On the surface, this sounds like a really great deal, however, I have found that it leaves a bit to be desired when it comes to the actual implementation. Read More

I belong to multi-user platforms, the best being Positive Real Estate Professionals and My FHA Mortgage Blog. Both of them offer me the ability to get my information disseminated to more people due to the increased readership that they offer through bringing contributors together for more knowledge and search engine optimization.

A new service of My FHA Blog is a consumer mortgage question column. People can ask questions and someone from the group should take a minute to answer any that they can. Today, I spent some time answering questions and found one that I wanted to share:

Young Couple With Pretty Good Income, But Low Down Payment, Can I Buy A Home?

November 14, 2009 Read More

FHA loans continue to be the loan of choice for anyone purchasing a home with less than 20 per cent down. Many of the mortgage insurance options previously available for home buyers no longer exist. One of the reasons this is happening has to do with the continued losses encountered by the private mortgage insurance (PMI) companies. This article in Housing Wire shows what has happened to MGIC, one of the larger PMI companies. Read More

I recently came across this blog post from Craig Tomlinson of Bell Real Estate of Eugene. He was asking some of the same questions that a lot of people are right now about what is going to happen with FHA loans in the future. Like him, I don’t have the answers to what FHA will be doing, but I do know what they are doing. FHA still is only 3.5% down payment. FHA loans can be combined with the Springfield SHOP and Eugene HAP programs. FHA loans have more liberal underwriting criteria. FHA remains the number one choice for First Time Home Buyers. FHA does not require appraisals ordered through HVCC. Read More