| |
fha mortgage loans: Mortgage Rates Will Probably Go Up From Here - 01/19/10 12:18 PM
As I have said before, I don’t normally quote mortgage rates for a number of reasons, but I am going to make an exception again today. Today’s 30 year fixed rate for a conventional loan for the Eugene/Springfield, Lane County Oregon market is at 4.875%/5.041% APR*. The reason I am doing this is because I think this rate will be going up shortly. How soon is a really good guess, but undoubtedly by the end of March, but I expect it to happen much sooner.
Why do I expect movement sooner, rather than later? Well, I think we are seeing … (3 comments)
|
fha mortgage loans: New three part series for chosing the perfect FHA Mortgage Loan Officer - 05/25/09 01:15 AM
Thanks everyone that stopped by one of my three websites to see my new header branding me across platforms. Now, I would like to invite you to visit FHA Loans Oregon and take a look at my three part series in how to chose a loan officer. I think you should find it interesting and give you some material to use when referring your clients to the loan officer that will help them through the rigors of an FHA loan.
Not everyone is a perfect loan officer, and I can guarantee that I am not perfect, but I do guarantee that … (5 comments)
|
fha mortgage loans: 10 Really Good Reasons to be a First Time Home Buyer! - 03/24/09 05:07 PM
Since most First Time Home Buyers are FHA borrowers I posted the answer to what the reasons are in my blog http://FHALoansORegon.com. This information can also be very valuable to anyone considering a VA loan that is a First Time Home Buyer and especially for someone looking to buy using the USDA Rural Guarantee since they have to be a First Time Home Buyer.
I have been asked, why should I become a home owner? I have been renting for 5 years and am perfectly happy with my situation. The short answer to that is, “maybe you shouldn’t.” Not everyone … (13 comments)
|
fha mortgage loans: 90,000 points (exactly) now that is fun! - 11/26/08 03:26 PM
Wow, I just went to my home and saw this:
)Sorry, can't figure out how to get this to work right. I am still technically challenged in a lot of ways.)
I couldn't believe it! 90,000 points (exactly). All of this since June 26, just 5 months.
How did I do it? Consistant comments on other people's blogs. Consistant posting on my own blog. Taking an interest in this community and wanting to see what other people are talking about. And, getting some interest generated in some of my postings.
I have tried to write interesting posts and most of … (28 comments)
|
fha mortgage loans: FHA Mortgage vs. Conventional Mortgage Which is Best and Why? - 11/24/08 01:06 PM
There has been discussion on the blogs about why FHA loans are coming to prominence, but I haven't seen a side by side comparison, so I thought it was about time that we did that. FHA Mortgage Loan vs. a Conventional Mortgage Loan with a limited down payment. How do they compare? First, the assumptions, you can't make a comparison without knowing what the parameters are. Needless to say, these are arbitrary, but fair to both types of loans. I am also going into this without knowing the result, just knowing my product. Here they are:
FHA Conventional
Purchase Price … (9 comments)
|
fha mortgage loans: SHOPping for a home mortgage loan? Down Payment Assistance in Springfield! - 11/17/08 05:05 PM
The City of Springfield administers a program to help low to moderate income purchasers get into their first home. It is called SHOP which stands for Springfield Home Ownership Program. This assistance program was created to encourage home ownership in Springfield by assisting low income residents with their first-time home purchase. The Springfield home ownership program is designed to help first time home buyers with the down payment and closing costs in their purchase. A $10,000 interest free, payment free second mortgage is available for this purpose. The loan is accepted by FHA as a viable method of obtaining down payment … (6 comments)
|
fha mortgage loans: Three reasons for buying real estate in Oregon now with an FHA mortgage for first time homebuyers - 11/09/08 10:08 PM
I know there are a lot of reasons for buying a home. I also know there may be a lot more than three for buying now with an FHA real estate mortgage. First time homebuyers could be making a mistake by waiting to purchase their new home. (Maximum FHA loan amount, down payment & tax credit.) Those reasons are:
January 1, the maximum loan amount in most areas will be reduced for FHA loans. For instance, in Lane County, the maximum loan amount will go from $343,750 to $271,050. January 1, the minimum down payment on FHA loans will go from 3% … (11 comments)
|
fha mortgage loans: Economic Outlook, Consumer Confidence, Mortgage Loans, Credit - 11/07/08 03:03 AM
I just have a few random thoughts this morning about what is happening right now in our economy. First of all, the election is over and win or lose for your candidate, get over it! We are all Americans, and America needs all of our help, not just the left or the right or the center. That said, lets talk about one of the most troubling reports, at least for me, and that is Consumer Confidence. This report measures the level of confidence individual households have in the performance of our economy now and in the future. A couple of years … (70 comments)
|
fha mortgage loans: Why I Love My Real Estate Profession - 10/28/08 12:26 AM
I have Leslie Stewart to thank for this honor.
That said, I think that it was totally unfair for her to tag me. I am filing an official complaint and want witnesses to the conspiracy that has landed me, a lender, with the title of a Real Estate Professional. Oh, what a name to hang on someone in this marketplace. However, I must say that I am actually proud to be part of the Real Estate Profession. I take great joy in helping people to get their first home. I know that the "Great American Dream," has been misused in the … (14 comments)
|
fha mortgage loans: Top 5 Things A Real Estate Agent Can Do To Help Prepare A Listing For An FHA Appraisal - 09/16/08 02:38 PM
Here are some helpful tips from an out of state appraiser, Tom Horn, that I think you will find helpful here too. FHA requirements don't change from state to state.
Via Tom Horn:
In recent months FHA financing has been on the increase. With the decline of the sub prime lending market, and related creative financing programs, many lenders have been offering FHA loans to many homeowners for refinancing and home purchases. Current FHA requirements are not as stringent as they once were. If you are interested in the exact requirements you can log on to the HUD website here. The purpose … (5 comments)
|
fha mortgage loans: First Time Home Buyer real estate purchase options available in Lane County - 09/10/08 02:55 PM
There are benefits to being a First Time Home Buyer. I will be going over what some of those benefits are but first I want to explain what a First Time Home Buyer actually is. By definition with the lenders, and the government, a First Time Home Buyer is someone that hasn't owned a home in the last three years. In some cases, that includes manufactured homes on rented land, in others, it doesn't. Also, there can be exceptions from someone coming out of a divorce.
First benefit: The cities of Eugene and Springfield both have programs for First Time Home Buyers … (2 comments)
|
fha mortgage loans: FHA Real Estate Loan definitions, changes and explanations - 08/21/08 03:27 PM
SO, WHAT'S NEW WITH FHA??
Say "good-bye" October 1st •• Seller funded D.P.A. (Down Payment Assistance)
•• Risk Based Premiums (Higher amounts for lower credit)
LOAN AMOUNTS!
•• Temporary loan limits in effect until 12/31/08 •• New loan limits 1/1/09 based on 115% of median sales price
•• Announced 4th Quarter (all we can do is guess right now)
•• New floor $271,050 will not change (Possible Lane County loan limit)
ALSO IN THE NEW YEAR
•• Borrower contribution 3.5% starting 1/1/09 •• Elimination of max LTV! (The 3.5% can all be closing costs)
•• FHA Condo Project Approvals performed by … (3 comments)
|
fha mortgage loans: HOPE for Home Owners, HUD Fact sheet on new program - 08/13/08 01:59 PM
HUD/FHA/Housing Bill of 2008. FHA Real Estate loans change with new guidelines. HUD has released a fact sheet about the HOPE for Home Owners program contained in the recently signed housing bill. The comments in blue or underlined are mine. I hope this all makes sense, but sometimes it is hard to make sense of government speak. The President has signed into law legislation that will allow HUD's Federal Housing Administration (FHA) to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will continue FHA's existing and successful efforts to provide aid to struggling families trapped in mortgages they … (17 comments)
|
fha mortgage loans: Mortgage loan rates and fees, why are there fees for Real Estate loans? Answers from a Eugene Oregon Real Estate Loan Officer - 08/08/08 01:08 PM
I just finished a blog from a Realtor in Florida and was concerned about some of her misconceptions of the mortgage industry. I have quoted her here and would like to respond to what she said, one item at a time. Her comments are in italic. If you want to lessen your mortgage amount or at least get a fairer value, you should know more about the five common mortgage fees you should avoid. Yes, you can prevent yourself from incurring and shouldering the following charges: (Just because you think you should not pay a particular fee, it doesn't mean it … (10 comments)
|
fha mortgage loans: HAPpy SHOPing, two great programs to help low-moderate income home buyers - 08/04/08 12:34 PM
In the City of Eugene, it is called HAP. In the City of Springfield, it is called SHOP. Both of them are programs to help low to moderate income purchasers get into their first home. The State of Oregon operates a similiar program called PAL for outside of Eugene/Springfield but it is out of money, again. Outside the Eugene/Springfield urban growth boundry, the USDA Farm Home Economic Development loans are available to 100% financing. Eugene HAP, homeowner assistance program, and the Springfield home ownership program, are designed to help first time home buyers with the down payment and closing costs in their purchase. … (6 comments)
|
fha mortgage loans: DOWN PAYMENT ASSISTANCE MAY SURVIVE! - 08/02/08 09:48 AM
I got this e-mail this morning: August 1, 2008
Last night, Congress introduced bipartisan legislation, H.R. 6694 that would reauthorize and reform charitable downpayment assistance. This bill would remedy a harmful provision in the new housing law which limits homeownership opportunities for low and middle-income Americans. The legislation, sponsored by U.S. Reps. Al Green (D-TX), Gary Miller (R-CA), Maxine Waters (D-CA), and Christopher Shays (R-CT) reauthorizes and reforms charitable downpayment assistance funded in part by sellers, which has helped over one million families and individuals become homeowners since 1999. The program was eliminated by legislation signed by President Bush on July … (16 comments)
|
fha mortgage loans: Housing and Economic Recovery Act of 2008 - 07/28/08 04:29 PM
Wow, I have seen a lot of blogs about this new legislation. I believe that the President is due to sign it by midweek and it will take care of all of our problems. No more foreclosures. No more sub prime loans with nasty prepayment penalties and rate adjustments. No more dishonesty in the industry.
Yeh, right! If you are interested, the bill (according to the copy I found) is 537 pages long and is written in normal Washington-speak. And, there are pages after pages outlining what will be done by this agency or that agency and how we are stopping … (9 comments)
|
|
|
|
|
|
Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
More about me…
Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
Email Me
fha mortgage, real estate loan, FHA 203k streamline, eugene, springfield, lane county, oregon, mortgage, banker, events, reviews, green lending, mortgage broker, lender, loans, conventional, fannie mae, freddie mac, direct lender, experienced, professional, VA loans, veteran, home buyer, first time home buyer.
 Links
Archives
|
;)
;)
