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down payment assist: Who Needs To Win The Lottery To Get A Down Payment? - 07/24/10 07:11 PM
With today’s first time home buyers needing to come up with more cash at closing, you may be thinking the only way you are going to have the American Dream and own your own home is if you win the Lottery. If you are like roughly 50% of the folks in your area making your area median income or less, chances are pretty good you find yourselves living check to check. Putting away thousands of dollars to make a down payment on a home and paying closing costs may seem like a pipe dream to you.
Ain’t gonna happen, huh … (5 comments)
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down payment assist: Today’s D-Day| Did You Make The $8,000 Tax Credit Deadline? - 04/30/10 06:26 PM
Seems to have snuck right up on us, didn’t it? Here it is D-Day – the day first time home buyers wishing to take advantage of the $8,000 first time home buyer tax credit have to have accepted offers communicated to them. At least interest rates are still really good for the buyers who didn’t make the April 30th deadline, and there are some other amazing resources still available such as first time home buyer down payment assistance programs and the Neighborhood Stabilization Program to help them even if they missed the $8,000 tax credit. Well, it isn’t midnight yet…maybe a … (1 comments)
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down payment assist: FHA vs USDA For Oregon First Time Home Buyers - 04/21/10 11:54 PM
Since the 2010 USDA funding well began to run dry, I'm finding buyers in need of FHA financing as an acceptable home loan alternative, especially first time home buyers who find making a down payment a challenge. So far, the FHA minimum down payment requirement has remained at 3.5%, but the upfront mortgage insurance premiums have increased. Most buyers can still make it work if they've been able to save some money or have a family member, significant other or employer wanting to help them with coming up with their minimum contribution. Although most municipality down payment assistance programs have seen … (2 comments)
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down payment assist: Current Foreclosures for Sale in Jackson County Oregon - 09/16/09 10:34 AM
As a mortgage banker | broker here in Southern Oregon, I was happy to see Adam Bogle of Coldwell Banker ProWest in Ashland Oregon has posted some "hopeful" news with the number of available foreclosure homes on the market here in Jackson County Oregon. I'm working with several buyers who are planning to use the Neighborhood Stabilization Program which gives them up to $50,000 to purchase a foreclosure with, so this is GREAT NEWS for them. It's been slim pickings lately for these buyers. Thanks for the great info, Adam!
Via Adam Bogle, CRS, Southern Oregon... The Most Recognized … (4 comments)
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down payment assist: $$$ For First Time Home Buyer In Medford Oregon? - 09/10/09 05:02 PM
If you are a first time home buyer earning between $11,600 – 58,500 (depending on your household size – i.e. household with two parents and one child or roommate is a 3 person household, and the maximum allowable income right now would be $39,850 for the entire household), did you know there is a program available that offers RIGHT NOW, TODAY eligible first time home buyers up to $15,000 to help them buy a home in the City of Medford Oregon? No waiting, no requirement the home is a foreclosure, as the Neighborhood Stabilization Program requires. So, how might this work?
… (2 comments)
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down payment assist: First Time Buyers In Medford Oregon Have MULTIPLE Options! - 09/10/09 02:32 PM
It isn’t often in life that we get multiple choices available to assist us on our journey, especially on the journey to homeownership, but eligible First Time Home Buyers in Medford Oregon have MULTIPLE CHOICES! Whether it is up to $50,000 for the Medford Neighborhood Stabilization Program for home buyers making up to 120% of the area median household income purchasing eligible foreclosure properties, or up to $15,000 for the City of Medford First Time Buyer program that gives eligible first time home buyers earning up to 80% of the area median household income purchasing a home in the city limits … (2 comments)
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down payment assist: Seventy Five to Twenty Five Homes For Sale Under $100,000 in Just One Rogue Valley Oregon Summer - 09/09/09 04:47 PM
Affordability indices are at amazing levels, with homebuyers finding deals we haven’t seen in generations here in the Rogue Valley. One of the deals is a recently released Neighborhood Stabilization Program, up to $50,000 in funds that can be used to match/make down payment, pay closing costs AND repairs on a foreclosure home here in Medford Oregon. Do you think FIFTY THOUSAND DOLLARS in a zero interest “silent second” with no monthly payments might help YOU buy a home and keep your payments nice and low?
Per Krista Bolf, 2009 Rogue Valley Realtor of the Year, not long ago there … (2 comments)
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down payment assist: How To Buy A Home In The Rogue Valley Oregon | Using City Of Medford First Time Buyer Program - 08/24/09 07:20 PM
Would you like to find out how you may use the City of Medford Oregon’s first time home buyer program? Are you a first time home buyer who earns less than 80% of the area median household income? Have you decided the time has come for you to purchase your own home instead of renting someone else’s? Have you been able to set aside $1,000 to do this with? Are you looking to buy in Medford? If your answer is “yes” to these questions, it’s pretty likely you are eligible for the City of Medford Oregon’s First Time Buyer Down Payment … (2 comments)
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down payment assist: Southern Oregon Housing Resource/ACCESS Inc’s August 22. 2009 Class at RCC Had a Packed House! - 08/23/09 11:02 PM
The August 22, 2009 HUD approved ABCs of Homebuying class held at Rogue Community College was packed! Maybe this is because of all the incredible incentives Rogue Valley home buyers have available to them, such as the $8,000 first time home buyer tax credit set to sunset November 30, 2009, the City of Medford’s Down Payment Assistance program that gives matching down payment funds and closing costs up to a total of $15,000 to eligible first time home buyers purchasing a home in Medford, or the recently/soon to be released Neighborhood Stabilization Program that gives matching down payment funds and … (2 comments)
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down payment assist: How To Buy a Home In The Rogue Valley Oregon | Using The FHA Home Loan - 08/20/09 09:05 AM
The days of flexible underwriting criteria have gone by the wayside for the most part. But, there are still common sense underwriting guidelines out there to meet the needs of the low-to-moderate income home buyer and homeowner. One of the most commonly used common sense programs is the FHA loan.
For the first time homebuyer with limited savings, the FHA loan is a great tool to buy a home with, since it requires a minimum down payment of only 3.5%, which may be a gift from family or down payment assistance like the City of Medford’s down payment assistance program … (2 comments)
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down payment assist: Northern California FHA Home Buyers, Need Help With The 3.5% Down Payment? - 08/07/09 10:30 PM
There are some fabulous buying opportunities out there for home buyers, from foreclosure homes that are priced under market to short sales and private party home sales. Add to that the range fixed interest rates have been hovering at and incentives like the first time home buyer $8,000 tax credit, and it's been a pretty busy summer selling season.
There are people who although they have good credit, stable employment and income and WANT to buy, but because of a high cost of living saving the down payment and closing costs to purchase a home have gotten in the way … (0 comments)
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down payment assist: Oregon Neighborhood Stabilization Program Release Delayed Further - 08/07/09 01:19 PM
Being a Sunday School Teacher, I remind myself there are better ways to vent anger than some of the words that come to mind when working through what can be a very frustrating job these days in the mortgage industry.
Yesterday, I learned that Oregon has once again delayed the release of the Neighborhood Stabilization Program. This was good news and bad news, as the good news was that our NSP Coordinator, Becky Baxter, is being promoted. The bad news was that we have to wait for her replacement to get up and running before Oregon will re-release the NSP funds for … (2 comments)
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down payment assist: Update on Neighborhood Stabilization Program for Eligible Southern Oregon Home Buyers - 07/13/09 07:39 PM
Up in arms over an article I read recently in our local newspaper, wondering how one family has managed to reserve funds when others cannot, I've been trying to get answers for the many buyers I am working with who are eligible for this up to $50,000 in matching down payment assistance, closing costs, repairs and mortgage reduction. These buyers all meet the income criteria, and are interested in purchasing bank owned/foreclosure homes. So, here is the update I just received from the State of Oregon:
"Based on the information we received at NSP training last week, there are a … (2 comments)
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down payment assist: Thinking of Buying A Foreclosed Home In Southern Oregon? - 06/23/09 09:05 PM
Here in Southern Oregon, in the traditional peak buying season we're seeing quite a bit of activity in the lower price ranges of the real estate market. Even Ashland, where prices are at the higher end of the scale for the Rogue Valley, sales are picking up. In Medford, White City, Central Point, Eagle Point the under $200,000 price ranges are seeing a flurry of activity, especially heavy in the lower price ranges where both first time home buyers looking to take advantage of the $8000 tax credit before it sunsets December 1, 2009 AND investors who are seeing price ranges … (6 comments)
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down payment assist: TO Be Or Not To Be....Neighborhood Stabilization Program Funding Available? That Is The Question - 06/18/09 09:12 PM
Here in this beautiful area of Southern Oregon where the Rogue Valley lays, surroundedby the serene beauty of the Siskiyou and Cascade mountain ranges, lakes, rivers and streams abounding, filled with fabulous family activities for her residents and visitors to enjoy, I find myself wondering if I just may have a bit of extra time to enjoy the wonderful place I live. It's summertime, temperatures are on the rise, there are SO MANY outdoor living opportunities available here, and I just might get out there and enjoy some of them.
Headed in to June, armed with some amazingly low interest rates … (1 comments)
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down payment assist: Hmmm... VA (State or Federal) or USDA Guaranteed Rural Housing to Buy Your Home? - 06/12/09 06:41 PM
Honored to have the opportunity to serve several veterans this week, grateful for the opportunity to help them now in return for their service and sacrifice for our country, I had the opportunity to show the comparisions between some fabulous government loan programs.
Using one's VA benefit to purchase a home can be a great tool! Here are some of the highlights of these programs, and how we may use them to purchase a home in our Southern Oregon real estate markets.
Federal VA programs - With no down payment required, this is a great tool for eligible veterans wanting to use their benefit … (2 comments)
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down payment assist: Southern Oregon Buyers and Realtors –Have You Heard Of The Neighborhood Stabilization Program? - 06/12/09 05:47 PM
It sure has been a busy week this week, with the many first time home buyers taking advantage of the programs that are out there for them. Here are details on one of them:
Neighborhood Stabilization Program: Eligible Buyers earning up to 120% of HUD median income, purchasing a home in a Neighborhood Stabilization eligible area, purchasing a home that has been foreclosed upon (bank owned, can be a private party foreclosure; no "flippers") may receive a "silent second" with zero interest of up to $50,000 that may be used to match down payment funds, pay closing costs/prepaid expense and … (0 comments)
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down payment assist: Southern Oregon First Time Home Buyers and the $8000 Tax Credit - 06/10/09 04:03 PM
Back and forth, back and forth goes HUD and the negotiations with participating FHA lenders on the monetization of the $8,000 tax credit approved in 2009. The latest (May 29th) word is that the FHA guidelines have been changed in order to make these funds available at closing to first time home buyers eligible for this tax credit. The good news is up to $8,000 WILL be made available by participating FHA lenders to eligible first time home buyers to use these funds to help pay for their closing costs/prepaid expenses. The bad news is it may not be used to … (2 comments)
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down payment assist: Ready…Set…WAIT! - 06/01/09 04:30 PM
Have you ever played "On your mark...Get Set....Wait!" with your kids? Or, "Red Light, Green Light"? I know we've done this, and are learning as time goes by that this isn't a bad lesson for our kids to get in the world we live in today. I'm thinking I wish someone had played "ready set wait!" with me a bit more when I was a kid, so I might be a bit more tolerant of the world I live in today - especially when it comes to the real estate/mortgage industry!
Ready...Set...WAIT!
Monetizing the $8,000 tax … (3 comments)
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down payment assist: Coming soon (or Maybe!) – Eligible FHA Buyers May Obtain the Economic Stimulus Tax Credit at Closing and Apply It to Their Down Payment? - 05/13/09 03:17 PM
That's right, you read that correctly! Secretary Donovan of the U.S. Department of H.U.D. announced that the Federal Housing Administration is going to allow lenders to do a form of "bridge loan" for the up to $8,000 tax credit so that FHA buyers may use these funds toward their down payment instead of waiting until they file their income tax return to get a refund.
The National Association of Realtors® is having their midyear legislative meetings and trade expo in Washington, D.C., "The Real Estate Summit - Advancing the U.S. Economy". Our Oregon Association of Realtors® President Elect, Krista Bolf of Coldwell … (4 comments)
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Karen Pierce Cooper
Medford,
OR
More about me…
Karen Pierce Cooper| Housing Counselor |Oregon
Address: PO Box 4126, NMLS#223305 , Medford, OR, 97501
Office Phone: (541) 779-6691
Email Me
Bringing 28 years of experience providing Southern Oregon and California Home Buyers and Homeowners | Serving all of Jackson County Oregon including Ashland- Talent- Phoenix- Medford-Jacksonville- Ruch- Central Point- White City- Eagle Point- Shady Cove- Gold Hill, as well as Josephine County including Grants Pass- Merlin- Wilderville | Helping Southern Oregonians on the road to fulfilling the American Dream of Homeownership - and staying there! ,
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