Oregon FHA Home Loans

FHA Mortgages for Oregon

The FHA (Federal Housing Administration) is one of the most popular loans right now, especially for Oregon 1st time home buyers, borrowers with little equity or credit issues.

An FHA loans are available for the purchase or a new home, refinancing of an existing home or the renovation of a home you want to purchase or remodel.

An FHA loan is not a government loan, but a loan guaranteed by the Federal government. Since it is guaranteed, it does require Mortgage Insurance.

An FHA Loan is priced at competitive market rates and available through a variety of lending sources including banks and mortgage brokers. We have access to some of the best lenders through our network.

Why Choose an FHA Loan?

• It's easier to qualify:

Less stringent credit requirements.
Non-traditional credit may be acceptable.
Down payment as low as 3.5%.
Non-occupant co-borrower is permitted.
Flexible qualifying ratios.

• No prepayment penalties.

• The loan is fully assumable by a credit approved borrower. This can be a selling point in the future.

• Lower Mortgage Insurance (MI) premiums then available on conventional loans.

• Non-credit qualifying streamlines refinances makes it easier and less expensive to refinance.

• Competitive interest rates and lower MI premiums may make this loan the best choice for you.

FHA's loan products may meet your needs:

• Rehabilitation Loan – An FHA 203(k) mortgage allows you to buy a home that needs repairs. Generally up to $35,000 worth for a Streamlined 203(k). If the property needs more work, a traditional 203(k) loan is available, but has additional requirements.

• Reverse mortgage (HECM). Can now be used for purchases and refinances. Click Here for Details.

• 95% cash-out refinances.

• Manufactured homes. One of the few programs available for manufactured homes.

• Construction - permanent mortgage. A loan for the construction of your home that then converts to your long term mortgage.

• Section 184 financing for Native Americans.

• Works well with state and local agency products.