Mini Mortgage Questionaire
Posts By Fred Chamberlin
Would you like your Oregon FHA mortgage payment to be smaller? Would you like to be paying less interest on your Oregon FHA loan? An Oregon FHA Streamline Refinance is the answer.
Eugene, Oregon - 541-342-7576
A new FHA refinance program is targeting non FHA home owners that are upside down on their mortgage equity. There is now more information from FHA about the program and how it will work.
Eugene, Oregon - 541-342-7576
All loan officers now have to be licensed through the National Mortgage Licensing System (NMLS) and the state they are doing business in unless they work for a national bank. So, if you are working with a loan officer you should find out if they are licensed. The NMLS now has an easy way to [...]
Eugene, Oregon - 541-342-7576
Wednesday the Senate gave the Federal Housing Administration (FHA) the power to adjust its insurance premium structure as soon as the President signs it. Touted as a method to help rebuild FHA’s depleted capital reserves this change could make a huge difference in mortgage payment for FHA buyers in Eugene/Springfield.
The bill has already passed the house. The bill (H.R. [...]
Eugene, Oregon - 541-342-7576
FHA became the loan of choice for Eugene/Springfield buyers after the housing bubble burst. Those that didn’t have high credit scores and/or large down payments could get a low down payment mortgage insured by FHA at a lower overall cost than with private mortgage insurance. (PMI)
Eugene, Oregon - 541-342-7576
USDA is authorizing the issuance of Conditional Commitments for the Single Family Housing Guaranteed Program (SFHGLP) after the current appropriated funds are exhausted (which they are.) Details will continue to come out over the next few days.
Eugene, Oregon - 541-342-7576
This has not made it to the USDA website, but our underwriting deparment says they have been told by USDA they expect the change by Memorial Day and are processing USDA Rural Guaranteed Loans per the new instructions. Any new submissions for a USDA Guaranteed Rural Home Loan must be manually underwritten and have a 3.5% guarantee fee instead of the 2% guarantee fee currently (until today) in place. The 3.5% will be financed so the total loan to value will be 103.5%.
Eugene, Oregon - 541-342-7576
Reverse Mortgages cost too much! Or at least that is the impression people have. We, at Oregon Reverse Mortgage Info, are doing something about that. We are no longer charging an origination fee for our Oregon Reverse Mortgages and instead will rely on the rebate paid by the lender as our source of income on the loans.
Eugene, Oregon - 541-342-7576
I recently found out that a record low of only 13% of seniors responding (in an Employee Benefit Research Institute survey) said they are very confident they have enough money to comfortably retire. Retirement assets may continue to shrink and entitlement programs may dwindle, many financial analysts intereviewed view Oregon reverse mortgages as one tool to help with retirement finances.
Eugene, Oregon - 541-342-7576
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