No Money Down OR – WA – CA

Archive for May, 2009

The Oregon USDA Rural Guaranteed Home Loan limits have been raised for 2009.  Now, home buyers with higher incomes can qualify for a USDA Rural Guaranteed Home Loan in Oregon.  This USDA home purchase program is one of the very few No Money Down Payment programs available. The USDA Rural Guaranteed Mortgage Loan has lower monthly payments than an Oregon FHA Mortgage Loan because it has no mortgage insurance. Be sure and check the chart to have the confidence that your income is within the Oregon USDA Rural Guaranteed Mortgage Income Limits for 2009.  Read More

My Friend and Internet mentor, Danny Thornton has penned an article defending 100% financing that I think is a must read for anyone that thinks that 100% financing does not belong in today’s Real Estate Environment.  The USDA Rural Guaranteed Loan Program and VA 100% financing are two of the very few ways that someone can purchase a home in today’s mortgage environment with no money down. Both are excellent options and should be used whenever it makes sense for the customer to do so.

Please follow this link to read Danny’s article. I don’t think you will be disappointed. Please contact me at 541-342-7576/541-221-3455 (cell) or my e-mail at eugeneloanguy@gmail.com if you have any questions about either program. Read More

A No Money Down USDA Rural Guaranteed Loan in Lane County may be easier to get than you might think.  The USDA program was established to help finance homes in rural areas of the United States that appeared to be underserved by lenders. The recent change in income limits for USDA loans for Lane County make a larger percentage of potential home buyers eligible for this method of home financing. Read More

Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment. According to Secretary Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. For the first time, eligible home buyers will be able to access the funds immediately at the closing table. Read More