Posts Tagged ‘Lane County Oregon’

I have been thinking for sometime about refinances. I have been hoping that rates would drop enough that it made sense for some of my clients to refinance both so it would increase my business but also so it would put them into a better financial situation. To be real honest and boastful, I did such a good job the first time, fewer people needed a lower rate because they were already in a darn good interest rate. So, what I did was put together a couple of scenarios of different type of refinances. I originally posted this on MyFHAMortgageBlog. I hope it answers some questions for you.

Posted by Fred Chamberlin

January 14, 2009

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Oftentimes people don’t do something until they have a sense of urgency. This carries over to purchasing a home too, not just for experienced home owners but also for first time home owners. In a market such as we have with mortgage interest rates dropping and home prices falling, they think that now is the time to sit on the sidelines and wait for the great interest rate and for the perfect home you want to get to just the right price before you make your move. Sound familiar? Read More

All of us involved in mortgage lending want the Real Estate market to turn around. We want to see Eugene and Springfield homes selling. We want people to be taking out mortgages. But, we also want to have our clients well served by these loans, especially when working with first time home buyers in Lane County. Therefore, I want to suggest Cash Flow as a method of determining suitability. Interest rates and payments are important, but what about “Cash Flow?” Does being a homeowner make sense? Read More

I wrote this entry about the tax credit for first time home buyers that is part of the Housing Act of 2008 in September in my Active Rain Blog. I have had a lot of questions from people about this program so I felt it was time to renew the post and let people know how they can use the $7,500 first time home buyer tax credit to their advantage when purchasing their first home.

First Time Home Buyer $7,500 Tax Credit and How To Use It for Down Payment

First of all, it needs to be stressed that there are limitations and qualification for this program. The most stringent is that it is available from homes purchased between April 9 of this year (2008) and July 1 of next year (2009). If you miss that window, you miss the tax credit.

Next, the credit is only available to single taxpayers with an Adjusted Gross Income (AGI) of $75,000 or less or married taxpayers with a AGI or $150,000 or less to get the full credit. Lesser credits are available for those making more than the limits listed here. Read More

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In August when the passage of the housing bill and the knowledge that the Down Payment Assistance programs, like AmeriDream and Nehemiah, would soon be gone, there was a lot of interest in what was going to be available for people that didn’t have money for a down payment. The best 100% loan to value program, to my mind, is a VA loan for those that qualify. Here is what I wrote then:

There is quite a bit of concern regarding the elimination of the Down Payment Assistance programs and almost all other 100% purchase programs, so I want to spend a bit of time highlighting another 100% loan program. To my mind, this is the best 100% loan program, the VA loan. Read More

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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 »