Can a home buyer looking to purchase a home in Ashland Oregon still find 100% financing? You bet! The variety of program options we have had available to us in the past are not as prevalent, but there are options available, such as the Federal VA home loan program for eligible Veterans and the USDA Guaranteed Rural Housing program.

Let's take a look at how a buyer looking to purchase a home in Ashland Oregon who meets the current income criteria shown below may successfully become a homeowner using the USDA Guaranteed Rural Housing program, using this 30 year fixed rate loan that does not require mortgage insurance.

Medford, OR MSA                  GUARANTEED HOUSING PROGRAM INCOME LIMITS

STATE: OREGON ------------------- A D J U S T E D I N C O M E L I M I T S -----

              1 PERSON   2 PERSON   3 PERSON   4 PERSON   5 PERSON   6 PERSON   7 PERSON   8 PERSON*
MOD.INC-
GUAR.LOAN  49550     56600         63700          70750         76400           82050        87750         93400

Say, this buyer is a family of 4 persons and is looking at an Ashland home that is selling for $280,000. This home cannot be a condominium, townhome or existing manufactured home (even if it is on land) - it needs to be a detached, single-family residence. If the 30 year fixed interest rate on the USDA Guaranteed Rural Housing program is at 6.50%, the monthly payment would be roughly $2,070 including principal and interest and estimated homeowners insurance and property tax payments. As long as your other payments are in line, this 100% financing program just might work in Ashland Oregon!

Not too many homes available that meet this criteria in Ashland Oregon who is struggling with a lack of affordable housing options for its citizens, but there are several available right now, like an Oak Knoll home built in 1996 near the Oak Knoll Golf course!

                                       
(Dark Orange areas of map are not eligible for USDA Guaranteed Rural Housing Program)

Since this program works outside of Medford and Central Point (doesn't work in these city limits since they are not rural), there are many more options available for the serious buyer willing to expand the area they wish to buy in.

Are you a serious buyer? Do you want to take advantage of the $7,500 tax credit you may be eligible for before it expires in July 2009? Do you want to take advantage of historically low interest rates before we all end up having to pay for the costs associated with the bailouts that I believe will eventually carry over to us all and raise interest rates? What are you waiting for!? Shut off the TV and Radio, get preapproved today, and go get your home!

See you at the closing table!

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