Eugene Loan Guy

Have you read the 5 secrets to getting an Oregon FHA mortgage loan for home ownership published by HUD? There’s a secret out there about FHA mortgage loans that HUD wants you to know about. It’s so secret, that they published an informational brochure but didn’t tell anyone about it.

The Secret Is OUT!

That’s right, HUD’s little secret about FHA mortgage loans is out. And I’m proud to say that I bring the 5 Secrets to you now… so buckle up, hold on to your seat… wake the neighbors and call the kids…

HUD’s 5 Secrets To Home Economics

Secret #1 – Organize

“Set a goal to save a certain amount of money each month—then stick to it.” Decide what is important to spend money on, and then save the rest for a down payment (3.5% now). Basically, determine what you want and then go for it! Make sure you have a good Realtor in your corner. It is amazing how much stress this can relieve.

Secret #2 – Watch Spending And Savings

“Prioritize your families spending needs so that savings become second nature.” A spending regimen can go a long way. Teach your children that saving a few hundred dollars now can grow into a few
thousand dollars over time. You would be surprised as to quickly you can save a down payment with the right priorities.

Secret #3 – Negotiate

“Communicate early and often with companies or banks that you owe money to so that you can work out problems before they grow larger.” Believe it or not, lenders want to work with you so that they get paid.

Secret #4 – Elevate Your Credit Score

“Know your credit score and what it means to banks and credit card companies and your future.” If you want to sign up for one of the “free” services, be aware that you have to “participate in their program. You are entitled to your credit report from all three bureaus once a year at no charge. Order once from one of the individual bureaus every 4 months, that will cover the year. You can also get your scores from www.myfico.com at a minimal rate. The scores you receive from the other programs are generally “consumer direct” scores and not necessarily the same as the lender gets. Do the Michael Jordan on your credit score. Learn about credit scores, what affects them and then use your knowledge to elevate your
credit score.

Secret #5 – Read (and Understand) The Fine Print!

“Consider all the options, educate yourself, and be informed before you sign the dotted line.” You have started the education process by reading my blog. Check for others and compare information. Knowledge is power and you can be a powerful borrower if you learn these 5 “Secrets.”

Download the HUD Brochure HomeEconomics here and learn the full details of HUD’s 5 dirty little FHA Home Mortgage Secrets!

For more information about the Oregon FHA Mortgage Loans, you can call (541) 342-7576/(541) 221-3455 or contact me here. Or you can fill out the contact form below. Thanks for your time and good luck as you progress along the path to home ownership.

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