Interested-party contributions (IPCs also know as seller contributions) are costs that normally are the responsibility of the property purchaser that are paid (directly or indirectly) by someone else who has a financial interest in, or can influence the terms and the sale or transfer of, the subject property. These persons or entities include, but are [...]
OHCS helps low and moderate-income families in Oregon buy their first home by providing below-market rate financing and cash assistance through its Residential Loan Program. The program’s below-market rate helps eligible families increase their home purchasing power and lowers their monthly house payments. Eligible borrowers will have two options to choose between – CashAdvantage [...]
203k Loans are a fantastic way to purchase a home that needs a little TLC. You can buy a home at a great price, borrower money to fix it up and make it your own! Check out the 2 videos below to learn more! Then contact me for an application and I can get you [...]
If you haven’t heard… FHA borrowing costs are going up! (per Mortgage Letter 10-02) Effective for FHA loans for which the case number is assigned on or after April 5, 2010 (here’s a hint, try and beat the deadline!), FHA will collect an upfront mortgage insurance premium of 2.25 percent. This policy change will increase [...]
The Federal Housing Administration (FHA) insures about 30 percent of new loans, and its health is vital for the housing market. But as foreclosures have risen, the government agency has seen its losses rise and its reserves sink below the minimum level required by Congress. According to the Mortgage Bankers Association (MBA) more than 18 [...]
