FHA Loans Oregon

Posts Tagged ‘$8000 tax credit’

So, you have been considering buying a duplex and having your renter make part of your house payment for you, right? Well, I am looking at the writing on the wall and seeing a change coming as more and more lenders require a minimum of 20% down payment on owner occupied duplexes.  Right now, it is possible to purchase a duplex with only 5% down, if it is owner occupied, using conventional financing, but that appears to be changing rapidly. Read More

Hopefully the announcement today from the Secretary of Housing and Urban Develpment will help many first time home buyers purchase their first home. Having to come up with the down payment has been one of the biggest obstacles in the past. I have posted several times various ways to get the down payment together, but it has still been out of the reach of some people. Now, that could change. The First Time Home Buyer Tax Credit is going to be available for the down payment on FHA loans in the near future, according the the Secretary Shaun Donovan. Read More

I have been asked, why should I become a home owner? I have been renting for 5 years and am perfectly happy with my situation. The short answer to that is, “maybe you shouldn’t.” Not everyone should buy a home and a lot of First Time Home Buyers were sold homes that they shouldn’t have bought because the financing was too easy. That had an effect on where we are today. However, that being said, there are a lot of great reasons to become a First Time Home Buyer in today’s more restrictive lending environment. Stealing a bit of David Letterman’s shtick, here are my top ten reasons to become a First Time Home Buyer in today’s Oregon real estate market: Read More

Last year, as part of the Housing Bill of 2008, HUD raised the FHA loan limits across the United States as a way to help people that were having difficulty refinancing their sub-prime mortgages. That temporary increase expired on Dec. 31, 2008 and the new minimum FHA loan limit went into effect for the Eugene/Springfield and Lane County area. Although still a decent limit, it did take a lot of the market out of FHA financing. Well, that changed this week. Read More

I just posted this information on my other website, http://eugeneloanguy.com and wanted to make sure it got as wide a dissemination as possible. The problem with foreclosures taking down everyone’s home values cannot be over stated. I think this is one program that will definitely help with that problem. Bank owned properties are almost always in need of repair and the FHA 203k Streamline is an ideal product to handle that situation. Read More