Eugene Loan Guy

Archive for the ‘FHA 203k Streamline’ Category

Starting with any new FHA case number assigned on or after April 5, 2010, the up front mortgage insurance premium (UFMIP) for all FHA loans in Oregon (except for Senior Reverse Mortgages) will increase from 1.75% to 2.25%. That means that on a purchase in Eugene with a $200,000 loan amount, the increased UFMIP will be $1,000. Read More

I came across a blog posting from Cristina McBreairty, a RE/MAX REALTOR® in Maine about buying distressed properties. I found it a very interesting series that was well researched.  You can read the whole series (starting with part 1) here. Read More

Homebuyer Tax Credit Update! Read More

Your Mortgage Advisor (or loan officer, or mortgage planner, or loan consultant, etc.) will be your guidepost in what you can and may pay for a home. The mortgage advisor will determine the kind of program that you qualify for to become an Oregon First Time Home Buyer, so it is important you chose your mortgage advisor carefully.As a mortgage advisor, I will weight your specific circumstances (income, credit, and down payment) with your needs and desires and recommend the best loan package for you. There are many steps in a successful loan application and it starts with the application and interview. For instance, just because you might qualify for a $300,000 house, it doesn’t mean that you will be happy with the payment on this much home. That is where getting to know you and what you are trying to accomplish is so important in the process. The process ends when the loan is funded, but the relationship doesn’t end there as I keep in touch with you over the years to make sure you are still in the best product available. Read More

Taylor, Bean and Whitaker (TBW), the nation’s third largest FHA loan originator, announced today that they have been terminated and/or suspended as an approved seller and/or servicer of HUD, Freddie Mac and Ginnie Mae loans. As a result, any loans that TBW had in its pipeline will not close or fund. Read More

I started in the finance industry in a finance company that soon became TransAmerica Finance and progressed to manager with the company. I then started an independent finance company in LaGrande Oregon that was owned by a savings and loan in the 80s. Those that remember the 80s know that almost all of the savings and loans were taken over a lot like the banks are being taken over today. This, in a round about way, is how I came back to the Willamette Valley and into the mortgage business in Eugene/Springfield. Read More