No Money Down OR & CA

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On January 1, the new 2010 Good Faith Estimate came into being amid a lot of hoopla and consternations. Now that it is here, many people don’t know exactly what it does and doesn’t do for the consumer and how it will effect and what affect it will have on Realtors®. This is a major change in RESPA (Real Estate Settlement and Procedures Act). Because of the changes, I will be holding webinars for Realtors® in my service area (Oregon, Washington and California) with a limit of 25 per day allowed to register. Here is the sign up form for the webinars: Read More

I have been asked how to receive a VA Certificate of Eligibility (VA Form 1880). So, I thought I would just make a short and sweet answer, since VA Guaranteed Loans are an exceptional way for veterans to purchase a new home. It is very easy to get the certificate, but there is no real reason to get it until you are ready to start looking for a home since the lender you are working with will need a new one. 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

I felt this post was geared mostly toward FHA loans, since most First Time Home Buyers are FHA borrowers, so it is posted in my other blog: FHALoansORegon.com. However, since there is a lot of great information here, I thought I should share the wealth with all of my readers, not just those looking for FHA Loans. This information can also be very valuable to anyone considering a VA loan that is a First Time Home Buyer or for that matter, someone looking to buy using the USDA Rural Guarantee and they have to be a First Time Home Buyer. I hope you find this information informative. Read More