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oregon usda guaranteed rural home loans: Oregon USDA Guaranteed Rural Home Loan - 05/18/10 07:42 AM
Oregon USDA Guaranteed Rural Home Loan
Designed as a resource for low to moderate income homeowners in rural communities, the USDA Guaranteed Rural Home Loan has helped many Oregon families obtain financing for homes not only in rural areas, but also in cities such as Sherwood, Newberg, Wilsonville, Forest Grove, Canby, Coos Bay and Klamath Falls,
While the USDA has guaranteed this loan, the money actually comes from traditional lenders like Golf Savings Bank. We underwrite the loan based on USDA guidelines and then sell it on the secondary market, just like a traditional loan.
One of the most attractive characteristics … (0 comments)
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oregon usda guaranteed rural home loans: USDA Guaranteed Rural Home Loan Update - 04/27/10 05:14 PM
I just received an email from the USDA regarding the status of Funding. Based on available, unobligated funds, they are looking at Funds exhausting around 5/7/2010. HOWEVER, since there are 2 Bills before Congress, and Congress is very aware of the situation, there is a chance that the USDA will once again issue Conditional Commitments.
April 27, 2010
Notice of Funding
This message is to notify you of the unobligated balances of fiscal year 2010 program funding for the Single Family Housing Guaranteed Loan Program.
As of April 27, 2010:
Purchase: $1,046,482,690.77
Refinance: $84,377,998.61
Total: $1,130,860,689.38
We anticipate funding will likely … (2 comments)
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oregon usda guaranteed rural home loans: USDA Guaranteed Rural Home Loan Fees to Increase - 04/19/10 12:28 PM
Based on a couple of Bills that are before Congress, it looks like we can expect to see the USDA's popular Guaranteed Rural Home Loan program have increased UpFrontMortgage Insurance Fees in the very near future. According to an article in the National Council of State Housing Agencies, two seperate Bills have been introduced to extend funding, AND to make it more self-sufficient. The Bills are in committee.
Since this isn't a simple extension of funding, I would be surprised to see it passed soon. Hope I'm wrong. We also don't know the details. Will they continue to wrap the increased … (2 comments)
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oregon usda guaranteed rural home loans: USDA Guaranteed Rural Home Loan Funds set to Exhaust in April - 03/10/10 11:31 AM
I just received notification from the USDA that their funds are set to exhaust by the end of April. Usually, they issue a "Conditional Commitment "subject to receipt of appropriate funds". They are indicating that this year they will not be doing so as they are not certain when additional funding will be available.
So, if you are looking for a home now and planning on using a USDA Guaranteed Rural Home Loan to purchase it, you better act quickly!!
Usually funds run out in September or November and new funding is allocated quickly. The fact that they are running out in … (6 comments)
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oregon usda guaranteed rural home loans: St Helens Oregon Starter Home - 11/06/09 10:31 PM
St Helens Oregon Starter Home 3 Bd/2 Bth for $153,500 RMLS # 9079926
35477 Oakwood, St Helens OR 97051
This St Helens, Oregon Home qualifies for 100% Financing!! and the extended $8000 Homebuyer Tax Credit
USDA Guaranteed Rural Home Loan Program
Check out more pictures of this house by
CLICKING HERE!
Beautiful 3 bedroom, 2 bath townhome close to a Campbell and McCormick Parks and downtown. Pictures and words do not do this home justice. This is a MUST SEE.
The above rates are based on acceptable credit, the ability to fully document your income and meet all appropriate lender guidelines. These … (0 comments)
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oregon usda guaranteed rural home loans: Can you Deduct Medical Insurance Premiums from USDA Income? - 09/17/09 09:31 AM
Can You Deduct Medical Insurance Premiums from
Income to Qualify for a USDA Guaranteed Rural Home Loan?
If you work with the USDA Guaranteed Rural Home Loan program you are aware that not only do you have to qualify the borrower based on normal Debt to Income Ratios, but there is also an income cap on how much a household can earn.
After taking all household income into account, you can then take qualified deductions away to lower the household income. Without going into all of these, I received an email today from the USDA clarifying how Pre-Tax Insurance Premiums … (2 comments)
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oregon usda guaranteed rural home loans: Newberg Oregon Starter Home _ 9064974 - 09/06/09 01:59 AM
Newberg Oregon Starter Home 3 Bd/2 Bth for $217,500 RMLS # 9064974
3519 Burlington Drive, Newberg OR 97132
This Newberg, Oregon Home qualifies for 100% Financing!!
USDA Guaranteed Rural Home Loan Program
Check out more pictures of this house by CLICKING HERE! Beautiful 3 bedroom, 2 bath home close to a community park and downtown. Pictures and words do not do this home justice. This is a MUST SEE. Newberg is an excellent town for first time homebuyers. It is a beautiful, small town at the entrance to Yamhill County's wine country. Home to George Fox University, … (0 comments)
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oregon usda guaranteed rural home loans: Forest Grove Starter Home - 09/05/09 09:24 PM
Forest Grove Starter Home Remodelled 1910 Farm House in Forest Grove, Oregon
2503 A St, Forest Grove, OR 97116
This Home now qualifies for 100% Financing!!
The USDA has loosened their guidelines recently to allow Forest Grove to qualify under the USDA Guaranteed Rural Home Loan program
Check out more pictures of this house by
CLICKING HERE!
Beautiful 3 bedroom, 2 bath home close to Pacific University, downtown, quaint shops and parks. Pictures and words do not do this home justuce. This is a MUST SEE. Forest Grove is a beautiful, small town at the base of the Oregon Coast Range. It is … (2 comments)
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oregon usda guaranteed rural home loans: $10 Billion Now Available for USDA Guaranteed Rural Home Loans - 03/20/09 07:12 PM
I just received an email from the USDA Rural Development that funds have been released again this year for the USDA Guaranteed Rural Home Loan Program. This means that we are again able to provide funding for financing up to 100% of the purchase price for Oregon and Washington loans in qualified areas.
Small towns such as Sherwood, Newberg, Sheridan, Dallas, Canby and Forest Grove qualify in my neck of the woods.
The USDA Guaranteed Rural Home Loan program is unique in that it is one of the few loans left that will allow a qualified home buyer, in a qualified area, … (2 comments)
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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
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