There are many ways to look at financing a home purchase in the Salem Oregon metro area. Cities outside of Woodburn, Salem, and Keizer are eligible for USDA loans. With regular conventional financing starting at 3% down and FHA available at 3.5% down, there are lower cost options for homeowners.
Each business has it’s acronyms. Real estate, I think, has more than any other business. I think we like speaking in code to sound important and impressive or something. I can just see an agent with a Salem Oregon home buyer. “Hey that’s an REO over there. It has HDW, FR, LR, DR, and DLB.”…
The other day, I wrote a post about how HUD was going to allow first time home buyers with FHA loans to get a “bridge type” loan on their tax credit so they can use it as a down payment. That has since been retracted. Personally, I am not surprised. It would take a while…
Well…things are happening fast and furious in the world of finance. Fannie and Freddie is old news. In case you haven’t heard at 1:45 this morning, Lehman Brothers declared bankruptcy. In addition Merrill Lynch was bought by Bank of America (in a sell or go bankrupt move), and AIG will fail in about oh…48-72 hours…
100% financing allowed many home buyers to get into homes in the past few years. With the mortgage markets in turmoil and home prices plunging, banks are having to go back to more conservative methods of lending in order to maintain liquidity. After March 31st, no MI company including MGIC, PMI, RMIC, Radian, UG or…