Archive for the ‘FHA’ Category

Mortgage insurance for FHA Insured Loans will go up more than 25 % on any new loan that begins after April 19 for purchases and refinances in Eugene/Springfield.

The yearly (paid monthly) mortgage insurance factor is currently set at .9% of the loan amount and will be jumping to 1.15% in April. This is for 30 year fixed loans over 95% loan to value (LTV). A similar increase will take place for those under 95% LTV.

This will be a difference of $31.25 on a $150,000 loan amount. Properties identified and applications started before April 19 will be under the current mortgage insurance factor.

Contact me

Navigating the mortgage approval process doesn’t have to be daunting. With me on your side those hurdles can be overcome. I am available right now to help you with the loan process and know the ins and outs of FHA, VA, USDA and conventional financing. If you want to buy a home using an FHA loan or refinance using VA, I am here to help. Contact me at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401, 541-342-7576/541-221-3455 cell or by e-mail. Only you can make the choice it is time to get the process started.

Over the years, mortgages have been a hot topic. Since 2006, they have been a very HOT topic. With that said, your mortgage can be your friend or your enemy. The decision is really in your hands. This is one of the facts that many people either do not understand or do not realize. Today, we are going to take a look at your mortgage and you.

When you first start talking about mortgages and the home owners that acquire them, the first thing that you have to understand the difference in obtaining a mortgage for purchasing aspects and obtaining a mortgage through refinancing . Once those grounds are established, then you and your loan officer can determine the program that best fits your needs and wants.

Mortgages can be acquired through many different avenues. Federal Housing Administration, better known as FHA, offers mortgages to people. The mortgage is back by the Federal Government through the Mortgage Insurance that is captured on all of their loans. This money is funneled into an account and used to fund the new loans. These loans do not cost the tax payers any money. They are the largest insurer of mortgages in the world. The Veterans Administration also offers military personnel a mortgage as well. USDA Rural Development mortgages are available to applicants that are looking to buy properties that are eligible for this program. The last mortgage to mention would be the Conventional mortgage. These are loans that are NOT backed by the federal government.

With the knowledge of the types of mortgages out there, your loan officer should be able to help you in picking the one that is right for you. In the long run, it is your decision as to what the final loan product will be. if you are not comfortable with the terms that are laid out in the financing, then you need to speak up before you sign the final paper work.