Ar_home_b_search
 



oregon home loans: Update on the $8,000 Tax Credit - 05/29/09 05:06 PM
Special Update:New guidelines were issued today for the monetizing of the $8,000 first-time homebuyer tax credit that was announced by HUD and then delayed by HUD. The primary change is that the money cannot be applied toward the 3.5% down payment. It can be used for a larger down payment or applied toward closing costs. We'll provide more details soon.
Here's a link to the HUD site. Click on Mortgage Letter 09-15 http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/index.cfm
Again, it appears that it can be used as "a" downpayment, but the borrower still needs to come to the table with 3.5% on FHA loans.
… (5 comments)

oregon home loans: When is a Mortgage Pre Approval not a Pre Approval? - 04/24/07 01:18 PM
When is a Mortgage Pre Approval not a Pre Approval?
 
There is a lot of discussion about the need for a pre-approval letter when buying a new home. Most Realtors will not accept an offer on a home without one, and many will not even show a home. But what is a pre-approval letter and is it really any good?
First, we need to look at the difference between a pre-approval letter and a pre-qualification letter. A pre-qualification letter is really just the Loan Officers hunch that the borrowers are good for the loan and that a lender will probably … (10 comments)

 
Larry_morris1 Rainmaker_large

Larry Morris, Oregon Mortgages

Sherwood, OR

More about me…

HomeStreet Bank

Address: 16200 SW Pacific Highway, Suite Z-3, Tigard, OR, 97224

Office Phone: (503) 639-2459

Cell Phone: (503) 421-0096

Email Me

Relevant news and information about issues relating to Oregon and Southern Washington mortgages and real estate. These views do not represent the views of HomeStreet Bank. View Larry Morris's profile on LinkedIn

Twitter Updates

    follow me on Twitter


    Listings

    Links

    Archives

    RSS 2.0 Feed for this blog