It can feel impossible to find a home loan with bad credit in the Eugene area. There are bad credit home loans available in the current real estate market. We have a variety of real estate loans for home
Starting a business and operating a business take a great deal of effort and energy. Most business owners struggle to succeed. Making it even harder is the home loan process for self-employed borrowers
If you have been recently looking for a home loan in Eugene you may have experienced some challenges with the approval process. Having bad credit is a burden but it shouldn't keep you from owning a home.
There is a house @ 767 Madison Street for sale right now. I saw the for sale sign out front. It looks cute. I am not a broker or lender. I saw this house on Zillow too. Looks like the Seller lowered the price by $5,000.00 so they seem to be motivated to sell.... more
FHA home loans and mortgages are a great solution for home buyers in Eugene and other Oregon areas. If you have damaged credit or unestablished credit FHA home loans are an excellent home mortgage choice.
Timeshares need to be looked up as a purchase and not an investment. Regardless of how timeshares are presented, they don´t perform as well as a house or stock investment. If you look around the resale market for timeshares on websites like EBay, Redweek, or TUGBBS will find that you can buy a timeshare for far less money than what the first owner purchased it for.... more
Your agent should be able to assist you with this and both parties should be communicating with each other to resolve this. A lot of times the EMD is not put into Escrow until you receive the approval from the bank, but this would have been stated in the contract when it needed to be deposited. The seller needs to adhere to the paperwork required by the bank for the short sale.... more
The biggest negative in buying a manufactured home, be it in a 55+ park, all ages park or on its own land is the resale value. Manufactured homes still suffer from some negative prejudice and do not appreciate in the same way that a stick built home does. Although good maintenance and a stable or increasing overall market will help maintain the home's value. However, on the plus side, this same issue makes them cheaper to buy in the first place.
There are two options in 55+ parks in the Eugene area. The most common is the park where you buy the home, but the land is leased to you by the Park for typically a monthly rent of $400-600. The second option is a park where you buy both the land and home, and pay a much smaller park fee ($50-100) for common area maintenance. Of course, the initial cost to purchase is much higher when you are buying the land (typically well over $100,000), where as a home only purchase is much cheaper. (anywhere from $10,000 to near $100,000). With the in park, leased land purchase, you are financing only the MH which is considered personal property like a car or boat or motor home. There are lenders who specialize in this type of financing. The land/home property is handled like a typical mortgage loan. Insurance does not seem to be an issue unless the home is very old and not in good shape.
As for living in a 55+ community, my sister has lived in one here in Eugene for a couple of years now, and she is quite content there. Her $510 monthly rent includes her water, sewer, garbage and basic cable, in addition to use of the common areas and general grounds maintenance. The people are friendly, the community she is in has events for the community. Potluck dinners, holiday parties, game days, community garage sales once or twice a year. Her community has a pool and exercise room and a large community center. This will of course vary from park to park, and it is one of the features you would probably want to make sure would suit you. Many of our area 55+ parks are near shopping, banks and other community services. Some of the parks also have some rental units, and/or rent to own options.
I hope you find this information useful. Please feel free to contact me if there are any other questions I can answer for you, or any way I may be of service to you. 541-505-4547.... more
In Summerfield you own property with acces to club house and open spaces. At others such as Briarwood and others you don't own the land you just rent it making it easier to be a snowbird. In both cases you will have to upkeep land connected to the trailer. Some of the parks like woodland, and briarwood also include water,sewer, and garbage or cable.... more
A home inspection is a complete physical examination of the condition of a house.Â NOT to be confused with an appraisal, the home inspection process is usually conducted within ten days after the home
Hi, I'm a Mortgage Advisor here in Eugene with Summit Funding. Currently, most lending programs that allow for low down payments will require that he be 3yrs removed from a shortsale. It kind of depends on the underwriter and their take on the divorce and whether he still had financial responsibility to the home. Some would say he was on the Note of the loan, another might say that the divorce decree superceeds his obligations to the Note for the home that went into shortsale. Also, a borrower can qualify 1 year out of a shortsale regardless of the reason if they have 20% to put down.
Another solution might be to see if a friend or family member would have the ability to help by signing on as a nonoccupying coborrower with you and leave your husband off the loan. Give me a call and I'd be happy to answer your questions. 541-915-7346.... more
Property Tax Exemption for Disabled Veteran or Surviving SpouseÂ Disabled vets and surviving spouses or registered domestic partners may be eligible for $18,448 or $22,138 of your propertyâ€™s assessed
Hi, my name is Casey Lown with Summit Funding. Typically you need to have a 2yr work history, however, exceptions can be made depending on the lender and their overlays. With the company I work for, we are a direct lender and little to no lending overlays, which means less hoops to jump through. I'd be happy to learn more about your situation and see if I can work with our underwriting dept to find where your situation might best fit. Call me at 541-868-1850 or email me at firstname.lastname@example.org. I'm sure that there are some solutions for you.... more
Cash remains king in the market place. Overseas investors and local investors disappointed with bond and CD yields below 3% are flocking to real estate, profiting from depressed values and strong rental
Just took a brand new listing where the current sellers where getting $2,000 a month in gross rental income. It is a 5 bed and 2.5 bath not too far from the University. 880 W 18th, please let me know if you want more info on that or anything else you may see.
Good luck either way with your home search, a great time to be in the real estate market!... more
Â FHA Back to Work Program- This program was created to help bridge the gap in the housing market.Â The three year waiting period for homeowners who had a foreclosure, bankruptcy or short sale are