First Time Homebuyer Tax Credit - 11/20/08 02:34 PM
Until July 2009, first time buyers (or buyer's who have not owned a home in the past three years) are eligible for up to $7500.00 rebate from the Federal Government.  This rebate is actually a no interest loan to be repaid in the next 15 years.  Combine that with interest rates we are seeing and good inventory and buyers should find this is a wonderful opportunity to buy a home today.
Clients will want to check with their tax advisor to assess the true benefits to your individual situations, but this could be another reason to get serious about buying your first … (1 comments)

New Veteran Loan Product - 11/18/08 12:43 PM
  While many loan programs and products are shrinking on a daily basis and becoming more restrictive, the Federal Government is committed to helping our Veterans.
On October 10, 2008, President Bush signed into law, the Veterans' Improvement Act of 2008.  With the passage of the bill, Veteran's can now refinance their current mortgage's and take cashout up to 100% of their homes' value. Previously, they were limited to 90%.  This bill also increases the maximum loan amount in some areas.  The last thing that this bill does is extend the offering of the adjustable rate mortgage option for Veteran's.  These … (0 comments)

2009 FHA Loan Limits for the Willamette Valley - 11/18/08 12:36 PM
Loan limits for Marion & Polk County were increased as part of the stimulas package earlier this year. These higher loan limits helped many borrowers refinance their homes and get into a good, conservative, fixed rate loan.
 FHA has just announced limits for 2009, unfortunately, these limits for Marion and Polk Counties are decreasing.  Until Dec 31, 2008 loan limits are 295,000 after January 1st, those limits will decrease to 271,050.    If you or someone you know were waiting to purchase or refinance hoping that FHA limits would rise in Marion or Polk County, there is still time to take advantage of the 295,000 … (2 comments)

Market Overview for the Willamette Valley, OR - 11/17/08 12:00 PM
Market Overview
Through October 2008
  
In the month of October 2008, there were 1278 new listings that came on the market and a total of 7674 listings available.  In the month of October 2007 there were 1571 new listings that came on the market and a total of 6953 on the market.  That is a 10.4% increase in listings available this year over last year at the same time.
  
In October 2008, there were 502 closed sales. With that number of closed sales we have approximately 15.3 months of inventory on the market.
  
Days on the market currently … (0 comments)

100% Financing still available - 11/07/08 03:51 PM
I thought I could address a few more details for those of you who may be looking at or have clients looking for homes in a rural area or know someone that really wants to get into a home but doesn't have a down payment.
What: The United States Department of Agriculture (USDA) has a loan program targeted for rural communities. Yes, I know that they stamp the approval on the beef that we eat, but they also govern several non-food related sectors. The program is similar to other mortgages offered by Landmark Mortgage. Much like an FHA loan, USDA does not service the … (0 comments)

 
Karen2011

Karen Cox, NMLS#117349

Salem, OR

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Landmark Professional Mortgage Company

Address: 1255 Lee ST SE #200, Salem, OR, 97302

Office Phone: (503) 385-4050

Cell Phone: (503) 930-4848

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