What First Time Home Buyer Programs Are There In The Medford, Ashland Area?

With interest rates at a all time low, many first time home buyers are asking themselves if they can afford to buy.  The answer to most of them is YES.  It is a great time to buy and right now with the low real estate prices, they get so much more for their money.

There are multiple programs available to first time home buyers and each have their own unique advantages and differences. Sometimes a down payment of 20% cannot be obtained and people lose hope or get frustrated. However, there are a lot of loans out there without a large down, or even zero down. I will list just a few of the different ones available:

Some are not necessarily "first time" buyer programs, but just have rules set so that you cannot own a house currently to use the program.

USDA Home Loan- This is a 100% financing home loan that has certain guidelines concerning location and income limitations. It is one of the most popular in this area and is a great loan. It is a loan that is guaranteed by the government.

Oregon Bond Rate Advantage and Cash Advantage- These are 2 different programs for first time home buyers which allow you to either get assistance with 3% down on a home, or, it allows you to take the fixed bond rate available at the time (right now it is at 3.875%!).

VA Home Loan- If you ever served in the military or did any federal service that may qualify you for a VA home loan, these are great 100% financing home loans and the VA guarantees the loan.

Home Path (Homepath)- This is Fannie Mae's opportunity to buy one of their properties and have no appraisal requirement. They have no MI to worry about paying and the down is minimal.

These are among the most popular home loan programs in the area and I can help find the properties that qualify for each of the programs.

If you have not yet been pre-qualified for a loan - give me a call.  It is easy to do over the phone and once we know what you can afford, we can go shopping !

Contact me on my cell, anytime.

Cheryl Malone

Real Estate Broker

Windermere Investors Marketplace

www.CherylMalone.com

541-951-1960

 

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Cheryl Malone

Medford, OR

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Windermere Van Vleet

Address: 1117 E. Jackson St., Medford , OR, 97504

Cell Phone: (541) 951-1960

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