oregon: HUD Homes for Sale at $100 Down Payment - Not for $100 - 02/10/10 07:58 AM
There are listings of homes for sale by the Department of Housing and Urban Development (HUD), called HUD Homes on the HUD website. The great thing about these properties is that they are first offered to people in the Eugene/Springfield, Lane County Oregon area that are going to use them for their primary residence. If there is not enough interest, then they will be offered to anyone. As an owner occupied purchase, many of the homes on the website qualify for a $100 special down payment program. That is right, only $100 down and if the seller (HUD) pays the closing … (8 comments)

oregon: Do you know who is writing that website you are reading? - 06/17/09 09:17 AM
Interestingly, while doing some web surfing trying to find out who my competition is in the blog-o-sphere, I wasn't entirely pleased with who was out there. I wanted to know who else was writing about the place I call home and who was writing about lending, mortgages and loans. It is interesting what I found. Like this site, for example. Neighborhood Expert Online is a place where you can come and find someone that is actually in your Neighborhood to help you with whatever you need. Granted, the availability is kind of limited right now, but it is a fairly new site and as … (8 comments)

oregon: Loan Qualification Standards have changed. Do you know the 3Cs? - 01/22/09 05:06 PM
Three major concerns in mortgage loan underwriting have again come to the forefront with underwriters. Those three items, Credit, Collateral and Capacity are the three legs of intelligent underwriting in todays Real Estate Mortgage industry. What are some of the things that effect these three legs and what changes are new (again) in the consideration of underwriters. You can read the entire post here in my post on Eugene Loan Guy. I would have thought that some of these points were just common sense, but as is evident with the foreclosure rate and amount of defaulting mortgage loans, obviously, common sense … (12 comments)

oregon: Wordless Wednesday - On the top of the world - 01/07/09 03:47 PM

Almost missed Wednesday. Northeastern Oregon. Blue Mountain Range.
(30 comments)

oregon: Lower Mortgage Rates - Reduced Home Prices - Time to Buy? - Urgency - 01/07/09 01:35 PM
Sometimes you make your decisions based on total facts, sometimes you make your decisions based on strictly on feelings. In the following post about a sense of urgency, I think that I have put a balance to fact and feeling. Facts are that mortgage rates are low and prices of homes have dropped. My feeling is that rates may drop a bit more and that prices might drop a bit more, but I don't feel that either one will be enough of a change to make waiting worthwhile.   Waiting? Yes, waiting. Why should someone that needs a home wait any longer? … (9 comments)

oregon: Conventional Mortgage Rates - Loan to Value and Credit Score - How Rates are Determined - 12/29/08 06:52 AM
I am trying to use my own website more and more to post information for both first time home buyers and people interested in refinancing their current mortgage loans to get a lower rate, so the following was originally published on Eugeneloanguy.com and with a Eugene Area Realtor, Dennis Pease's blog. I think this information is especially valuable for anyone wondering why their mortgage rate is what it is. Mortgage rates can be very confusing for the uninitiated and this is just a bit of background to help understand some of what goes on in the background. This is the repost from … (12 comments)

oregon: Three reasons for buying real estate in Oregon now with an FHA mortgage for first time homebuyers - 11/09/08 02:08 PM
I know there are a lot of reasons for buying a home. I also know there may be a lot more than three for buying now with an FHA real estate mortgage. First time homebuyers could be making a mistake by waiting to purchase their new home. (Maximum FHA loan amount, down payment & tax credit.) Those reasons are:
January 1, the maximum loan amount in most areas will be reduced for FHA loans. For instance, in Lane County, the maximum loan amount will go from $343,750 to $271,050. January 1, the minimum down payment on FHA loans will go from 3% … (11 comments)

oregon: Economic Outlook, Consumer Confidence, Mortgage Loans, Credit - 11/06/08 07:03 PM
I just have a few random thoughts this morning about what is happening right now in our economy. First of all, the election is over and win or lose for your candidate, get over it! We are all Americans, and America needs all of our help, not just the left or the right or the center. That said, lets talk about one of the most troubling reports, at least for me, and that is Consumer Confidence. This report measures the level of confidence individual households have in the performance of our economy now and in the future. A couple of years … (70 comments)

oregon: USDA Rural Guaranteed 100% Loan Program for Benton County - 10/20/08 08:49 AM
I have had several people interested in obtaining a USDA home loan for property in Marion, Polk, Linn and Benton Counties.  I've put together a map of part of the county that should help in identifying areas that qualify for this program. 
As you might know - it's one of the last TRUE 100% home loans available - and it doesn't have PMI!  The rates are comparable to FHA, so it's a very affordable payment!  You do not have to have PRESTINE credit, but we generally want to see scores above 580, and 12 months of "clean credit."
USDA does require that the property … (4 comments)

oregon: USDA Rural Guaranteed 100% Loan Program for Polk County - 10/20/08 08:45 AM
I have had several people interested in obtaining a USDA home loan for property in Marion, Polk, Linn and Benton Counties.  I've put together a map of part of the county that should help in identifying areas that qualify for this program. 
As you might know - it's one of the last TRUE 100% home loans available - and it doesn't have PMI!  The rates are comparable to FHA, so it's a very affordable payment!  You do not have to have PRESTINE credit, but we generally want to see scores above 580, and 12 months of "clean credit."
USDA does require that the property … (0 comments)

oregon: USDA Rural Guaranteed 100% Loan Program for Linn County - 10/20/08 08:42 AM
I have had several people interested in obtaining a USDA home loan for property in Marion, Polk, Linn and Benton Counties.  I've put together a map of part of the county that should help in identifying areas that qualify for this program. I would also recommend you contact Leslie Stewart with Prudential Real Estate Professionals in Stayton for help in finding that property, especially in Marion and Linn Counties. You can call Leslie at 503-769-3448 X 1910 or her cell at 503-932-8202.
As you might know - it's one of the last TRUE 100% home loans available - and it doesn't have PMI!  The rates … (2 comments)

oregon: USDA Rural Guaranteed 100% Loan Program for Marion County - 10/20/08 08:35 AM
I have had several people interested in obtaining a USDA home loan for property in Marion, Polk, Linn and Benton Counties.  I've put together a map of part of the county that should help in identifying areas that qualify for this program. I would also recommend you contact Leslie Stewart with Prudential Real Estate Professionals in Stayton for help in finding that property, especially in Marion and Linn Counties. You can call Leslie at 503-769-3448 X 1910 or her cell at 503-932-8202.
As you might know - it's one of the last TRUE 100% home loans available - and it doesn't have PMI!  The rates … (2 comments)

oregon: USDA Rural Guaranteed Loan Program offers real estate loans to 102% loan to value for purchases - 10/06/08 09:00 AM
100% financing has become harder to find but there are still a few options available in Oregon. One is, of course, Federal VA but this is open only to veterans and active duty military personnel. A fantastic opportunity to purchase a home for someone that qualifies.
Next would be a FHA loan with some sort of down payment assistance program, of which the only ones currently available are SHOP, HAP and PAL. Unfortunately, HAP and PAL are currently out of money according to recent reports. (Please see previous postings for what these are.)
That brings me to the USDA Rural Guaranteed … (12 comments)

oregon: Beavers take a bit out of the wooden horse, Trojans Fall - 09/26/08 02:30 AM
We were number 1! That is the new mantra of the USC Trojans after the Oregon State Beavers dropped them on their heads last evening at Reser Statium in Corvallis OR. The Trojans may think of the Willamette Valley as the Valley of Death after last evening's loss. They may get used to it though. Three years ago, the Beavers did the same thing to the third ranked Trojans. No matter what the rankings, hometown crowds seem to energize the Beavers. The 27-21 win is the best news that Beaver Nation could hear. Congratulations Oregon State University Beavers. Sorry (snicker) Trojans. … (2 comments)

oregon: Another resturant review: Wildhorse Casino, Confederated Tribes of the Umatilla, Pendleton OR - 09/09/08 11:15 AM
Believe it or not, I do eat in other places than casinos. This particular trip, included an overnight at the Wildhorse Casino, operated by the Confederated Tribes of the Umatilla, is located just east of Pendleton Oregon.
I didn't try their dinner restaurant; instead we went to the buffet. What is it about casinos; they all seem to have a buffet? Is there something that says gambling about a buffet? Are you taking chances? Anyway, the food for dinner was acceptable. I can't grade it any higher than that. We actually got to the buffet during the few minutes that it … (7 comments)

oregon: INTEGRITY, do you have it? How do you know? - 09/03/08 09:16 AM
We have a class going on in our office every week and we are studying a book by Ron Willingham called, INTEGRITY SELLING for the 21st Century. It has been an interesting study and I have been more than pleased with the information and skills available through this study.
One thing in particular caught my eye this last week. We are in Chapt. 6, (Demonstrate) and I want to pass it forward. "'Is what I have the best solution for this person's needs or wants?' If the answer is 'yes,'  you have a professional responsibility to show and tell them how you … (0 comments)

oregon: Credit Scores and how they affect your real estate purchasing rates and power - 09/03/08 06:30 AM
Barry Habib, Chairman of Mortgage Success Source, was recently interviewed by Fox Business News and he was asked about inproving your credit scores. You can see the interview here.
I found a lot of his answers a bit simplistic but still very helpful to the majority of people that have lower credit than their payment history deserves. Now, there are no "Credit Faries," even if you believe in the Tooth Fairy. There is not magic thing that will correct your credit if it actually reveals your method of handling credit.
In other words, if you pay things late as a general rule, … (0 comments)

oregon: It's Free, It's Fun, It's Your Credit Report? - 08/26/08 10:07 AM
Jason is a fairly new friend of mine. We now have an almost bi-coastal relationship. I enjoy his blogs and have been trying to keep up with what he writes. This particular posting is about credit and credit reports. I may have been able to do it nearly as well, but he did all the hard work.
So, credit where credit is due, thanks to Jason Sardi for this excellent explanation on credit. Thanks Jason.

To say your credit history & score is HUGE these days may be a borderline understatement.  For purposes of my experience, I'll concentrate on how … (2 comments)

oregon: The other 100% purchase loan, VA loan for veterans - 08/24/08 09:59 AM
There is quite a bit of concern regarding the elimination of the Down Payment Assistance programs and almost all other 100% purchase programs, so I want to spend a bit of time highlighting another 100% loan program. To my mind, this is the best 100% loan program, the VA loan.
VA's Home Loan Program is for veterans and active duty military personnel and certain members of the reserves and National Guard.  VA's program provides an excellent product and benefit for those individuals who have served or are serving to protect our families and our nation, as well as giving them a … (6 comments)

oregon: Blogging, real estate loans, mortgage consultant, and me - 08/24/08 05:25 AM
I have seen these type of posts before but I guess I need to add mine to the batch. I just hit two months with Active Rain and passed 33,000 points. So, what does that mean? So far, it has meant getting calls from California about USDA rural programs in Oregon (apparently there aren't a lot of rural areas in San Francisco). It has meant getting a call about the FHA Hope program from New Hampshire which I referred to someone in that area. It has meant getting a call about the Springfield Farmers' Market because I was the one that … (5 comments)

 
Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant (Guild Mortgage Co - Oak Harbor WA)

Fred Chamberlin

Oak Harbor/Whidbeynulls, #1 Experienced FHA...

Oak Harbor, WA

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Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277

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