The State of Oregon's Bond Loan Program for first time homebuyers will have higher interest rates on Monday. Effective March 3, 2008, the RateAdvantage interest rate will go up to 5.40% and the CashAdvantage interest rate will go up to 5.90%.

I recently did an article comparing the Oregon Bond loans to the Mortgage Credit Certificate. With market interest rates headed downward and the Oregon Bond Loan interest rates headed upward, the scales just tipped in favor of the Mortgage Credit Certificate.

Unfortunately, Southern Oregon Counties and Cities are not participating in the Mortgage Credit Certificate. Maybe it is time for that to change! Off to call our local housing coordinators...

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com

 
This post has been included in Oregon Information

4 Comments on MCC A Better Alternative Than Oregon Bond? Maybe, With The Newest Interest Rates

FEB
29
2008
280,456 Points 2 Featured Posts Localism Sponsor Outside Blog
very interesting post and a sign of a turnaround ??
2:29pm • #1
Charlie - I'm ready for a turn around! Looks like some buyers today wanted to see a turn around in builder stocks..another sign of a turn around?
10:09pm • #2
MAR
02
2008
 Karen - thats a bummer about Oregon Bond
9:53pm • #3
MAR
06
2008
 Krista - it is frustrating for me when the State's objective is to offer interest rates 3/4 to 1% lower than market rate, yet it is really no where near that. At least not near the market rates I quote!
5:32pm • #4

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Karen Cooper - Mortgage Consultant for OR/CA

Ashland, OR

More about me…

American Pacific Mortgage- Karen Cooper, Oregon & California

Address: 301-B Crater Lake Avenue, OR ML License #ML-2338, CA DRE License 01180222, Medford, OR, 97504

Office Phone: (541) 608-6003

Cell Phone: (541) 601-4303

Email Me

26 years experience providing Southern Oregon and California Quality Home Loans| Assisting Oregon First Time Homebuyers with no Down Payment| Specializing in USDA Guaranteed Rural Housing & Oregon Bond Loans| Oregon VA Loans| Farm/Ranch Loans| Aggressively Priced Jumbo Mortgages| 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 and Northern California communities in Siskiyou County| Helping Southern Oregonians and Californians on the road to fulfilling the American Dream of Homeownership

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