Archive for the ‘First time home buyers’ Category

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

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

The income limits, as of Monday, for Lane County are: $70,750 for a family up to 4 and $93,400 for a family of 5-8. 8% of the 4 person limit is added for each household member over 8. Additionally, all income for all members of the household is counted when determining the household income. There are some adjustments available and individual income calculations can be done here. To find out if a particular property is in or out of the urban growth boundary, you can check it here. Read More

Since I have three separate sites, I try to keep the information separate from one to the other, but there are times that the information that I am giving covers the spectrum of not only general lending and community information (http://eugeneloanguy.com), but also FHA loans (http://fhaloansoregon.com) and the no money down arena (http://no-money-down-usda-mortgage.com). That is the case with the President’s new “Making Home Affordable Program” and the updates about financing options that I just posted here.

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