FHA Loans Oregon

Archive for the ‘Manufactured homes’ Category

Top 10 Things to Know if You’re Interested in a Reverse Mortgage 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

I wrote a post recently about not believing everything that you read on the internet, because, face it, there is a lot of misinformation out there. Well today, I got a call from a potential client and he said something that really surprised me having to do with Taylor, Bean and Whitaker (TBW). He was told, by his loan officer, that the last lender that would make FHA 203k Streamline loans had gone out of business that day. Read More

So this question about FHA has to do with whether or not FHA offers adjustable rate mortgages (ARM) and temporary buy downs. First of all, FHA doesn’t offer the programs, the lenders that work with HUD offer the programs and FHA insures them. Of course, if FHA wouldn’t insure the loan program, the lenders sure wouldn’t offer them, would they? And they do, you can buy a home in the Eugene/Springfield Oregon are and us either an adjustable rate mortgage or a temporary buy down. Read More

A lot of people are not aware that most HUD foreclosures in Oregon are available with only a $100 down payment for owner occupied purchases. Also, you can get up to $5,000 to make repairs on the property as part of the purchase transaction.  If the repairs are more extensive, then an FHA 203k Streamline is the way to go but it isn’t available with just $100 down. The homes in Lane County are fairly limited right now with only four in Eugene, one in Junction City and none in Springfield. Here is the current list from the HUD website for homes in the Lane County area: Read More