Have you been savings your pennies to buy a home, and your Piggy Bank is filled up and ready to go?

I couldn't believe the number of homes that Krista Bolf shows are currently available for sale for under $200,000 in Medford, Oregon.

Students who have been attending the HUD approved "ABC's of Homebuying" course that Southern Oregon Housing Resource Center puts on in order to arm themselves with the knowledge to prepare themselves for homeownership have soooo wanted to have this opportunity to find something in their price range. This is EXCITING news for first time home buyers in Southern Oregon wanting to buy a home they can afford! 

If you or someone you know is a first time home buyer who has been waiting for this opportunity to buy, Krista found 116 Homes for sale for under $200,000 in Medford Oregon. Not six...not sixteen... but, ONE HUNDRED SIXTEEN homes!  This isn't like the handful of homes you would hope to find not long ago, that you would then find yourself competing with so many other potential buyers for when you made your offer to purchase an affordable home. First time buyers now actually have CHOICES they can make in selecting their home!

Here are some examples of what buying the various homes for under $200,000 could be if you qualify for these first time home buyer programs and have roughly $1,000 to put down:

• Purchase Price $100,000
• Total Payment $599 (principal, interest, taxes, insurance)
• 30 year fixed interest rate 5.625% (5.678% a.p.r.)

• Purchase Price $130,000
• Total Monthly Payment $827 (principal, interest, taxes, insurance, pmi)
• 30 year fixed interest rate 5.625% (5.988% a.p.r.)

• Purchase Price $160,000
• Total Monthly Payment $1,029 (principal, interest, taxes, insurance, pmi)
• 30 year fixed interest rate 5.625% (5.979% a.p.r.)

• Purchase Price $195,000
• Total Monthly Payment $1,262 (principal, interest, taxes, insurance, pmi)
• 30 year fixed interest rate 5.625% (5.973% a.p.r.)

There are still multiple First Time Home Buyer Programs you may be eligible for, from the Oregon Bond RateAdvantage Program, to the State of Oregon's Down Payment Assistance Program, to the City of Medford's Down Payment Assistance Program. The State has sent notification out that one of their programs, the CashAdvantage program, has been suspended as well as a warning that they may run out of funds for the Down Payment Assistance program for this year's allocation.

How much have you been paying in rent? Has your landlord raised your rent again? Are you ready to be pre-approved to buy your first home yet?

See you at the Closing Table!              

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