Cheryl Malone

What First Time Home Buyer Programs Are There In The Medford, Ashland Area?

With interest rates at a all time low, many first time home buyers are asking themselves if they can afford to buy. The answer to most of them is YES. It is a great time to buy and right now with the low real estate prices, they get so much more for their money.

There are multiple programs available to first time home buyers and each have their own unique advantages and differences. Sometimes a down payment of 20% cannot be obtained and people lose hope or get frustrated. However, there are a lot of loans out there without a large down, or even zero down. I will list just a few of the different ones available:

Some are not necessarily "first time" buyer programs, but just have rules set so that you cannot own a house currently to use the program.

USDA Home Loan- This is a 100% financing home loan that has certain guidelines concerning location and income limitations. It is one of the most popular in this area and is a great loan. It is a loan that is guaranteed by the government.

Oregon Bond Rate Advantage and Cash Advantage- These are 2 different programs for first time home buyers which allow you to either get assistance with 3% down on a home, or, it allows you to take the fixed bond rate available at the time (right now it is at 3.875%!).

VA Home Loan- If you ever served in the military or did any federal service that may qualify you for a VA home loan, these are great 100% financing home loans and the VA guarantees the loan.

Home Path (Homepath)- This is Fannie Mae's opportunity to buy one of their properties and have no appraisal requirement. They have no MI to worry about paying and the down is minimal.

These are among the most popular home loan programs in the area and I can help find the properties that qualify for each of the programs.

If you have not yet been pre-qualified for a loan - give me a call. It is easy to do over the phone and once we know what you can afford, we can go shopping !

Contact me on my cell, anytime.

Cheryl Malone

Real Estate Broker

Windermere Investors Marketplace

www.CherylMalone.com

541-951-1960

Housing Interest Rates Are More Affordable Than Ever!

Calling all FIRST TIME HOME BUYERS ! Interest rates over the last few weeks have plunged even lower making an enticing invite for anyone sitting on the fence thinking about buying. It is a great TIME TO BUY A HOME.

With the rates down this low, some are even buying the rental they live in and their payments are dropping - saving them a ton of money AND they are now owners of the property investing and not throwing money away!

You will be amazed at what you might qualify for and with the low housing prices you could finally afford your dream home.

The first step is to give me a call – I have a great loan officer who can pre-qualify you over the phone !

So, if you want to work with the BEST REALTOR IN MEDFORD, OREGON then call me - anytime. You can also go to my website for a snapshot of the market and see what homes recently sold for and where the best deals are.

If you are a FIRST TIME HOME BUYER or just want to invest in Real Estate – now is the time.

Cheryl Malone – Real Estate Broker

Windermere Investors Marketplace

541.951.1960

www.CherylMalone.com

Once you are pre-qualified for a home loan, I would love to help find your dream home - "Lets Go Shopping!"

Servicing the Rogue Valley including Medford, Central Point, Jacksonville, Talent, Phoenix, Eagle Point, Sams Valley, Rogue River & White City Oregon.

Buy A NEW Home - NOT A Foreclosure, Fixer, or Short Sale!

What?? Buy A NEW Home - NOT A Foreclosure, Fixer, or Short Sale? Yep...

When looking to buy a home you should use THE BEST REAL ESTATE AGENT IN MEDFORD, OREGON to help you through the process.

Everyone today is talking about buying foreclosures and short sales, investing in distressed properties, and so on and so forth but what if you are not 'that guy'? You know... That guy who fixes everything, or that guy who has tons of time on his hands and always finishes projects...?

Here is a little information. New homes have advantages that these distressed properties do not:

1) New homes come with warranties.
2) They are never lived in and have not been destroyed like some distressed properties.
3) You do not need to go into the home immediately spending more money.
4) There are no projects needed to start on and you can relax
5) Probably, since you are buying a newly constructed home, there are more homes being built and sold around you increasing/securing your property value, instead of other foreclosures dragging the value down.

Now is the time to buy more than ever before regardless of the way you go.

Once you are pre-qualified, Call THE BEST REAL ESTATE AGENT IN MEDFORD, OR:

CHERYL MALONE
541.951.1960
www.CherylMalone.com

And... "Let's go shopping!"

Remember, the first step in buying a home is to get pre-qualified on a home loan. Sellers do not like to deal with buyers who might not qualify. There are plenty of different options out there (even other 100% financing options) I recommend you call:

DAVID DUBEAU
541.292.9663
541.608.2161
www.DavidDuBeau.net

As always, your comments are welcome! You can always follow our blog here, share us or visit us on Facebook, follow on Twitter, Youtube, etc.

OTHER RELATED BLOGS:

How Do I Use My VA Home Loan?
http://daviddubeau.blogspot.com/2011/02/va-home-loan-how-do-i-use-my-veteran-va.html

What is a "Preapproval Letter"?
http://daviddubeau.blogspot.com/2011/02/what-is-preapproval-letter-when-buying.html

Should I Buy A Home Right Now?
http://daviddubeau.blogspot.com/2011/02/should-i-buy-home-right-now-john.html

Is it cheaper to rent, or buy?
http://daviddubeau.blogspot.com/2011/02/it-is-cheaper-to-buy-than-rent-home.html

What is the difference between a Forecosure, REO, and Short Sale?
http://daviddubeau.blogspot.com/2011/02/difference-between-foreclosure-and.html

Do I need 20 Percent Down To Buy A Home? Maybe...

Going forward, borrowers will need to come up with a 20 percent down payment if they want the best deal.

The Office of the Comptroller of the Currency and the FDIC have agreed on a 20 percent down payment for what is being called a "Qualified Residential Mortgage" (QRM). A QRM is a mortgage that will be exempt from the risk retention standards required under the Dodd-Frank Act.

Basically, mortgage lenders who originate mortgages that are not considered QRMs will have to hold onto at least five percent of the mortgage before selling it on the secondary market.

Mortgage rates on these loans will be higher than QRMs, because the latter will be less risky and more marketable.

There may be good news - Borrowers who are required to put 20 percent down will be able to get 10 percent of it as a "gift," so it's really only a 10 percent down payment requirement. Also, FHA loans are exempt from the risk retention rules, so you can always go that route for a low-down payment mortgage.

If you are looking to buy a home, you need to call THE BEST REAL ESTATE AGENT IN MEDFORD, OR:

CHERYL MALONE
541.951.1960
www.CherylMalone.com

Also, if you are wanting a home loan or to just be prequalified for what you can afford, I recommend you call THE BEST MORTGAGE OFFICER IN MEDFORD, OR:

DAVID DUBEAU
541.292.9663
541.608.2161
www.DavidDuBeau.net

Buying A Property With An Investment Account may be what you are looking for.

A lot of people don't know this but you may be able to buy a piece of property with your investment account and not be charged taxes, fees or interest!

There are many different types of accounts as well as the companies that hold them. If you have a IRA, 401K, etc then call them (or your financial advisor) to see.

Many times you will be allowed to pull money from the account for your down payment on the property! Sometimes you may be charged interest, or certain fees, taxes, and so on - or not at all! It all depends on the account you hold and the limitations/allowances you have.

For other financing options, give me a call - THE BEST REALTOR IN MEDFORD OREGON and see what works best for your situation.

CHERYL MALONE - Real Estate Broker

Windermere Investors Marketplace

www.CherylMalone.com

541.941.1960

Remember, the first step in buying a home is to get pre-qualified on a home loan. Sellers do not like to deal with buyers who might not qualify. There are plenty of different options out there (even other 100% financing options). To do this, I recommend you call the BEST LENDER IN MEDFORD, OR:

DAVID DUBEAU - Loan Officer

Sterling Savings Bank

541.292.9663

Once you are pre-qualified, "Lets go shopping!"

As always, your comments are welcome!

OTHER RELATED BLOGS:

www.sellingoregonhomes.blogspot.com

What is a "Preapproval Letter"?

http://daviddubeau.blogspot.com/2011/02/what-is-preapproval-letter-when-buying.html

Should I Buy A Home Right Now?

http://daviddubeau.blogspot.com/2011/02/should-i-buy-home-right-now-john.html

Is it cheaper to rent, or buy?

http://daviddubeau.blogspot.com/2011/02/it-is-cheaper-to-buy-than-rent-home.html

What is the difference between a Foreclosure, REO, and Short Sale?

http://daviddubeau.blogspot.com/2011/02/difference-between-foreclosure-and.html