Eugene Loan Guy

Posts Tagged ‘home purchase’

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

It has been some time since I promoted the HomePath program in the Eugene and Springfield areas. At that time, there weren’t very many homes in our area that qualified for the program, but that has changed. Basically, what HomePath does is allow the purchase of selected Fannie Mae owned foreclosures with lower down payments and no mortgage insurance, both owner occupied and investment (rental) properties. Now, they are offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for: Read More

Now, the final chapter in this series, part 8. Who would you think it might be that would be a key person after the movers? Well, for a First Time Home Buyer that purchases their home before November 30, that would be the IRS and/or your tax preparer, so you can get your $8,000 tax credit in a timely manner. The IRS has a great section of questions and answers about the First Time Home Buyer Tax Credit so follow this link if you have any questions about it that I haven’t already covered. Read More

So, who are the key people in a Eugene/Springfield Oregon area home purchase for a First Time Home Buyer? I am going to answer this question in an eight part series, so you will have to wait till part 8 before you know who they all are. But, now I am going to start with NUMBER ONE: The Real Estate Agent. Also, it is important that this be done shortly to find and close on a home before the tax rebate deadline of November 30. Read More

Foreclosures and bank owned properties are getting a lot of play in the media right now and many buyers are focusing on these properties, along with short sales while trying to find a great deal on a house. For a change, I want to switch my focus from the buyer (the one I deal with) to the seller because I think there is some erroneous information out there about the difference between a foreclosure and a short sale as it concerns the owner of the property. Read More

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