Did you know that in 72% of the major cities in the United States, it is cheaper to buy than to rent? Now, Eugene/Springfield isn’t a major city, but taking a look at the RMLS and what is being offered for sale, I would say it is very possible to buy something here for less than you are currently paying in rent.

For example (please see fine print below), this little bungalow is only $54,900 and with an FHA loan with 3.5% down, your total payment would be around $475 per month, including taxes, insurance and mortgage insurance. I would happily recommend an outstanding Realtor® to assist you in viewing this property.

Or, how about this one that qualifies for a Fannie Mae HomePath. The HomePath program allows purchase with as little as 3% down and no mortgage insurance. This home is listed at $69,900 and with only 3% down, the payment would only be about $510 a month.

You can also take a look at this one in Danebo at the upper end of this scale, $99,900. I am sure Lynn Hunter with Century 21 Westover, 541-606-4567 would love to show you this one. The taxes are a bit more on this one but even with that and 3.5% down on an FHA loan, the payment would only be  about $775 per month including those taxes, insurance and mortgage insurance.  For this you get 1285 square feet and a two car garage.

(fine print) These are just three of pages of homes under $100,000 currently for sale in Lane County. I make no representation as to the condition of the homes nor is this an approval of credit. The FHA loans were calculated at a 5% interest rate, APR 6.289%. The Fannie Mae loan was calculated at 5.5%, APR 5.923%. Credit score, loan amount and down payment affect interest rate and APR.

Contact me

Navigating the mortgage approval process can be daunting. You need someone on your side. I am available right now to help you with the loan process and know the ins and outs of FHA, VA, USDA and conventional financing. If you want to buy a home using an FHA loan or refinance using VA, I am here to help. Contact me at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401, 541-342-7576/541-221-3455 cell or by e-mail. Only you can make the choice it is time to get the process started.

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