Posts Tagged ‘Lane County’

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

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

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(Originally published by Fred Chamberlin on Active Rain and then on http://eugeneloanguy.com)

There are a lot of common misconceptions about FHA mortgage loans that have been around for a long time. Anyone that got an FHA loan in the 80s or 90s had to go through a lot more paperwork and inspections than are required currently. One of the things that was required on an FHA loan was a compliance inspection by a certified FHA inspector, that is no longer required. This is from an August post of mine on Active Rain about myths about FHA loans.

I know there are Realtors out there that remember the bad old days of FHA financing. I still remember having to have and FHA certified inspector check over the house and make the sellers sweep up the basement or clean a spot on the carpet. Anyone remember the VC sheet (that hasn’t been that long ago)?

Well, that isn’t the case anymore. FHA loans are nearly the same as conventional loans, except in some (many) cases better. Take a look at these common myths about FHA:

Myth: Takes more time processing.
Truth: Read More