FHA Loans Oregon

Archive for the ‘Manufactured homes’ Category

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

The following was released today about the maximum loan to value on an FHA cash out refinance. A cash out refinance is done when more than the balance of the mortgage and closing costs are included in the new loan amount. This could be in the form of cash to the borrower or payment of secondary liens against the property or the payment of any other borrower indebtness. This is a change from the current 95% maximum loan to value for a cash out refinance. Borrowers have until March 31 to start their application if they would like to receive more than 85% loan to value. Read More