Eugene Loan Guy

Archive for the ‘First Time Home Buyer Tax Credit’ Category

Do you know the ins and outs of mortgage lending? Do you know the difference between an FHA and an FmHA loan? Do you have a trusted advisor to help you buy your new Eugene or Springfield home? Have you been disappointed with the knowledge base of those you have talked to about a loan in Cottage Grove or Creswell or Florence? Read More

Market forces determine interest rates. Mortgage Backed Securities (MBS) are a great indication of what is happening with the mortgage interest rate market. A Mortgage Consultant that doesn’t keep track of the Bond (MBS) market is not doing the job for his clients, the home buyer. Read More

Statistics are interesting things. One of my favorite sayings is that, “Figures never lie, but liars figure.” I don’t know who said it, but it is really true. Now, I don’t know if these figures are the ones that never lie, or are done by liars, but I found them quite interesting when thinking about how people in the Eugene and Springfield area of Oregon buy homes. Read More

Mortgage rates, mortgage rate, mortgage rates! What is going to happen? According to the Federal Reserve Survey, mortgage rates are 1% lower today than they would have been because the Fed has been purchasing mortgage backed securities (MBS). That all stops the end of next month. Read More

As is often the case, misinformation can make a wave when it shouldn’t be a ripple. I heard two people discussing today the ending the the Home Buyer Tax Credit. They were saying that it ended March 31, which is wrong. The Eugene/Springfield, Lane County, Oregon real estate market has been benefited by the extension of the First Time Home Buyer Tax Credit and expansion to the “move-up” home buyers. Those tax credits are available to qualified buyers on accepted offers until April 30 on purchases that close on or before June 30, 2010. Read More

There seem to be a lot of great deals offered through the Fannie Mae HomePath program in the Eugene/Springfield, Lane County area of Oregon, that I am going to pick a few each week and put that information out there that these properties are available for only 3% down and no mortgage insurance with Fannie Mae willing to contribute 3.5% to closing costs. The one I chose today is 1,510 square feet with 4 bedrooms and 1 bathroom and it is listed at $139,900. Real Estate Investors also can get a good deal on a HomePath home with only 10% down with no mortgage insurance. Read More