Eugene Loan Guy

Archive for the ‘Mortgage Loans’ Category

Foreclosures are a problem in the Eugene/Springfield market because they are bringing the value of other homes down when they sell for less than market value. They are a problem for the neighborhoods because they are often left to deteriorate during the foreclosure process and sometimes left vacant for days or weeks or months. Now, I have encountered a new problem having to do with buying one….getting them closed. Read More

Authorization for the National Flood Insurance Program expired three days ago according the Federal Emergency Management Agency (FEMA).  Without authorization, flood insurance policies cannot be written. Without Flood Insurance policies, loans cannot be funded, if the property is in a flood zone….and it is raining. Read More

Read More

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

Job Loss Assurance Rolls Out Read More

I have often written about the benefits of an FHA loan and will continue to do so, but this post will take a different tact. This time, I want to talk about the benefits of a conventional loan (non government) with mortgage insurance for your purchase in Eugene/Springfield. Read More