Posts Tagged ‘Oregon’

Up until recently, USDA allowed a streamline refinance on Oregon USDA loans for a simple interest rate reduction. That changed in January and refinance of a USDA loan to a new USDA loan in Oregon now requires a complete application, including appraisal to refinance the balance to a lower interest rate. This change will make it more difficult for those owing more than the property value to take advantage of today’s interest rates. Read More

USDA and VA Loans Read More

I am going to be answering some questions that are coming up on My FHA Mortgage Blog over the next few weeks either here or on one of my other two blog sites, FHA Loans and Eugeneloanguy. I am hoping that by answering questions posed by the public we can get better information out there than what we have been seeing on the internet. There are a lot of myths and fallacies on the internet, just take a look at this post to see what I am talking about. This particular question has to do with closing costs and a USDA loan. I hope this series helps. Read More

Our USDA Guaranteed Home Loans are underwritten by our in-house underwriting staff, but after it is approved through our staff underwriters, the loan then must be forwarded to USDA for their approval of the loan, since they are the ones guaranteeing the loan. This is similar to what happens when a mortgage insurance company requires loans to be submitted to and approved by them prior to insuring the loan. Read More

It used to be that if you were applying for a 100% USDA Rural Guaranteed Mortgage, you couldn’t have more than $5,000 left over at closing because the main purpose of the loan was to help people purchase homes in “under” served areas with no money down. That restriction has changed for this USDA no money down program. Read More