Archive for the ‘Manufactured homes’ Category

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

Manufactured homes can be a challenge to finance, especially if you have less than 20% down payment. Most of the mortgage insurance companies that I work with will not insure a manufactured home, no matter what the strength of the borrower. However, FHA will insure a mortgage loan on a manufactured home with as little as 3.5% down. That is why an FHA mortgage loan is my first choice for financing a manufactured home in the Eugene/Springfield Oregon area. Read More

You can use an FHA Refinance Mortgage Loan to pay off an existing Land Sales Contract or Contract for Deed in Eugene or anywhere in Oregon. The FHA Refinance Mortgage Loan allows a homeowner who does not have a vested interest in the title to the property but who does have valid Land Contract, Contract for Deed, or other similar instrument, to pay it off with an FHA Refinance Mortgage Loan.

It can be done in one of two ways: Read More

You can refinance your Oregon FHA Mortgage Loan without an appraisal and without income re-qualifying what so ever. Technically, there is no credit qualification on this loan either, however, most lenders require a 620 credit score for the program and require a mortgage credit report.  The OR FHA Streamline Refinance takes the hassle out of getting a permanent interest rate reduction on your Oregon FHA Mortgage Loan. Read More

Now that you have found a FHA Mortgage Loan Officer that is accessible, it is time to find out if they are the right one for you. So, it is time to ask some questions. First of all, I think you need to ask if they are working for a company that is approved to originate FHA loans. A real basic question, but it is amazing how many people aren’t. Next, how about asking them about their FHA loan experience? How long have they been originating FHA mortgage loans? What kind of FHA mortgage loans do they originate? Do they know the difference between a 203b and a 203c? (203c is on a condo and they should know that and not have to look it up.) Read More