Eugene Loan Guy

Posts Tagged ‘Conventional Loans’

Homebuyer Tax Credit Update! Read More

Yes, it is still a question as to whether or not the Congress will extend the First Time Home Buyer Tax Credit. Hopefully we will know soon. Right now, we are waiting for the House to pass something and then for a conference committee to find common ground on what, if any, extension will be coming through and then for the President to sign the new legislation. Read More

FHA Loans, VA Loans, USDA Loans, Conventional Loans, Eugene, Springfield, Oregon, Lane County, $8000 First Time Home Buyer Tax Credit and mortgages. All of these are search terms used to find what you are looking for on the internet. They will give you a list of websites set up to answer questions and direct you to a place to start your loan application process. However, the thing that upsets me is that many of those websites are only mining customers to be sold in lists to people like me….like me, not me. Read More

My friend and internet guru, Danny Thornton with Taylor Bean and Whitacker, recently penned an interesting blog about what mortgages are. I think this is an excellent explanation for the first time home buyer and also for the seasoned real estate investor. I have added a bit of emphasis and some comments in parenthesis and at the end, but feel free to visit Danny’s blog at The Mortgage and More Blog to tell him whether he did a good job or not. Read More

My last blog entry discussed conventional mortgage loan pricing and how to determine what PAR pricing is. Without that information, how can you know that the 4.5% interest rate you are being offered is really a great rate. Now, I want to go over the other pricing issues with conventional mortgage loans. Real estate purchase and refinancing are subject to a number of different pricing issues. First time home buyers should pay special attention to the following information. This information is available to the home buyer if they ask for it, but most times they only want the bottom line.

In my last blog, I showed how the PAR rate was calculated but I didn’t go into the additions and subtractions that effect the final pricing. Most pricing are calculated by a combination of credit score (CS) and loan to value (LTV). So, let’s discuss how these work together. Every lender will have their own additions and adjustments, these are an example. Read More

The following is from a blog post about a conventional loan interest rate reduction that I had on Active Rain from December 4th. This post created quite a firestorm of responses from those that were excited with the news to those that thought the intervention of the Treasury was the wrong thing to do, to those that thought rates didn’t matter. Real Estate Mortgage interest rates are a hot topic for discussion. Lower rates could drive both purchases and refinances. Not only was there a lot of immediate discussion, but there are still questions coming in. Today, brought this comment:

Posted in Mortgage Loans, Springfield Oregon, Uncategorized | Tags: Conventional Loans, Eugene, First time home buyers, Interest Rates, Lane County Oregon, Mortgage Rates, oregon, Springfield | 5 Comments »