Indicators have been pointing this direction, with signs of inflation in the economy and continued tightening in the credit markets, but the State made their move last week raising interest rates. These programs are still priced well below going market rates in equivalent conventional and government home loan programs.
The Oregon State Veterans Home Loan program raised the interest rates for eligible veterans to:
The Oregon Bond Home Loan is now offering 5.75% on the RateAdvantage program for qualified first time home buyers on this 30 year fixed rate loan with 1 3/4% points, up from while the CashAdvantage program remains suspended.
While the down payment assistance programs we use here in Southern Oregon remain depleted, there are still some great buying opportunities out there for the entry-level home buyers. Competition for well-prices homes can be fierce, so preparation is critical to success in having an offer accepted, and buyers should be fully credit approved before making their offers.
See you at the closing table!
Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com
Karen Cooper - OR|CA Mortgage Consultant - www.Quality4Loans.com
Providing high Quality, Professional, Ethical service to Oregon and California home buyers and owners since 1983. Whether you are taking out your first home loan or your fiftieth, for your home, your second home or for investment, put my knowledge and expertise to work for you.
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