Eugene Loan Guy

It has been some time since I promoted the HomePath program in the Eugene and Springfield areas. At that time, there weren’t very many homes in our area that qualified for the program, but that has changed. Basically, what HomePath does is allow the purchase of selected Fannie Mae owned foreclosures with lower down payments and no mortgage insurance, both owner occupied and investment (rental) properties. Now, they are offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:

• Closing costs;
• The purchase of new Whirlpool® appliances by Fannie Mae; or
• A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%. (There could be lender conditions on other than closing costs.)

To be eligible for this incentive:

• Offers must be accepted on or after January 28, 2010
• Property sales must close before May 1, 2010
• Buyers must be owner-occupants, investors are excluded

There are currently a goodly number of homes on the www.homepath.com website that qualify for the financing program. Today, there were 47 properties listed in Lane County with financing available (according to the website) for 43 of them. Here is an example of one of the listings:

This property is listed for $179,900 and is located at 955 S 70th in Springfield. The property sold three years ago for $222,900 according to county records, so this looks like it could be an exceptional deal. If you don’t have a Realtor, call me and I will recommend an excellent one for you. For information about the HomePath financing program, call me for that. You might also qualify for the NSP (Neighborhood Stimulus Program) loan of up to $35,000 in Springfield. You can reach me (Fred Chamberlin) at 541-342-7576/541-221-3455 cell or by e-mail. Alpine Mortgage Planning is located at 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. I am your local lender. Call today.

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