Mt. Hood Area Guaranteed Rural Housing Loan

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Receive 100% Financing with a Mt. Hood Area Guaranteed Rural Housing Loan

 

 

 

Backed by the United States Department of Agriculture (USDA), the Guaranteed Single Family Housing Loan aids households in obtaining adequate housing in eligible rural areas like Sandy, Brightwood, Welches and Rhododendron. The loan provides up to 100% financing for households that are within the household income limit for the area. 

This is not a Risky Sub-Prime Loan!

To obtain the RHS guaranty, lenders must follow Guaranteed Rural Housing Loan program guidelines in assessing the credit-worthiness of the borrower and the value of the property The USDA guarantee lowers the risk to the lender, permitting mortgage lenders to lend at lower rates, better terms under more relaxed requirements for borrower credit-worthiness.

Guaranteed Rural Housing loan features:

  • No down payment required.
  • No monthly mortgage insurance premium - Just a one-time “Guarantee Fee” of 2%,
  • Flexible requirements for credit history.
  • Cash Reserves not Required.
  • Closing costs can be financed into the loan.
  • Closing costs and prepaid expenses can be paid by the seller.

 

For More Info Please visit the USDA Webpage: Oregon Rural Development

 

Contact us today for a list of approved lenders.

May 11, 2009 by leslieel

Mt. Hood Real Estate Market Trends For May 2009

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Market trends in Government Camp, Welches, Rhododendron and Brightwood for May 2009. The turnover or absorption rate continued trending upward to 5.4 % from the low of 2.2% (the lowest absorption rate since we started recording in January 2005) set in November 2008 and again in January of 2009.  With low interest rates and a large supply of homes to choose from, it’s a good time to be buyer.

May 11, 2009 by leslieel