Is 4.50% The Mortgage Interest Rate You Are Looking For To Help You Buy Your First Home?

During follow up calls with existing clients last year, several of them mentioned that they had friends and relatives they are referring to me that were holding off until after the first of the year and/or the new president took office before venturing in to the waters to purchase a home. There were rumblings at that time that home loan interest rates might drop to 4.50%. Well, they did touch those levels for many qualified borrowers, creating a mini refinance boom for those homeowners with high credit scores, verifiable income/ assets they could qualify with, and strong equity positions in their homes. This dip in the interest rates resulted from favorable bond yields, but those yields have risen steadily since they briefly touched the lows that led to the very low mortgage interest rates several weeks ago, and are now roughly ½% higher than those lows.

But, guess what Oregon First Time Home Buyers? There is still a loan program out there you should take a look at to see if you are eligible for. This is the Oregon Bond Loan which is a loan program many loan officers are unfamiliar with, but is one of my favorite programs to discuss with first time home buyers who have 3-3.5% down payment, as is the USDA Guaranteed Rural Housing program for the home buyers with zero down payment.

So if you are like many Oregon first time homebuyers courageously wading in to the rough waters to buy your first home, confident that you would like to be putting your monthly housing expense in to your own home vs. renting someone else's home and you have done your research and/or spoken to a knowledgeable, reputable lender/real estate professional so you know how much money you will need and what expenses you expect to have, consider the Oregon Bond Loan as a tool to help you become a successful homeowner.

Not sure what questions to ask when researching these tools? I am an instructor for the Southern Oregon HUD approved "ABC's of Homebuying" course, where these programs are explained to those attending these courses - attend one, or call or e-mail me for your own free personal consultation!

What are you waiting for!?!?

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com