Vida, OR New Home Financing in Oregon
Somerset Investors Corp. can find Vida, OR residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help Vida, OR residents match your needs with a loan you’ll love for as long as you own your home. Somerset Investors Corp. can find Vida, OR residents the perfect loan and start your home purchase off right. With hundreds of loan programs available, we’ll help you match your needs with a loan you’ll love for as long as you own your home.
Fixed Rate Loans
Several categories of conventional loans exist, the most common and familiar being the fixed rate mortgage. In the cases of fixed rate mortgages, the borrower will lock in an interest rate, and pay down both the principal and interest on the loan at that interest rate every month until the mortgage is paid off. The most typical term of a fixed rate loan is 30 years, though fixed rate mortgages can also be obtained for much shorter terms, the primary difference being in the size of the monthly mortgage payment.
Conforming Loans
Other conventional loans are known as conforming loans. In these cases, an arrangement is made between borrower and lender that comply with the stipulations of two federally run mortgage trading companies (or Government Sponsored Entities - GSEs) Fannie Mae (FNME) and or Freddie Mac (FHLMC).
Fannie Mae and Freddie Mac do not directly approve or deny loans. They buy and sell home mortgages, working with lenders to make home ownership easier for people to attain. Lenders like to sign up borrowers with conforming loan, because they can then sell these loans to Fannie May or Freddie Mac in order to more quickly receive the funds coming to them, and use those funds to make other investments. Fannie Mae and Freddie Mac, in turn, then repackage these loans to sell to investors as securities.
The current guidelines for a conventional Fannie Mae loan set a maximum purchase price for a single-family home at slightly above $415,000 (though residents of Alaska, Hawaii, or Guam may be able to qualify for an even larger loan).
The interest rate as well as the short- and long-term pricing on a conforming loan is determined primarily by the type of loan applied for. Also taken into consideration will be the amount of funds you already have to contribute to closing costs, your credit rating, credit score, and credit history, your employment history, and the type and location of the home in question.
Jumbo Loans
Other forms of conventional loans are nonconforming loan instruments that do not meet Fannie Mae or Freddie Mac loan qualifications, such as jumbo loans, or loans so large they fall outside the Fannie Mae and Freddie Mac loan limits (or purchase limits). Jumbo loans are provided by private investors and as such ordinarily come with much higher interest rates than conforming loans.
FHA Loans
Government entities from a local to a federal level and private entities alike have worked to develop loan programs that make home ownership a reality for many people considered under-qualified for traditional mortgages. These include loans for first-time homebuyers and people with a low-to-moderate income that are insured by the Department of Housing and Urban Development (HUD) via the Federal Housing Administration (FHA).
HUD and the FHA do not make loans directly, rather they insure loans, meaning that the lender still gets paid back even if you default on the home loan. Often, FHA insured loans are available with d
Return to new home financing in the state of OR
Call for COMPLETE details NOW!
(800) 675-9783
| Vida, Oregon News |
Woman reported missing from McKenzie Bridge
A woman reported missing Dec. 28 has not been located, and the sheriff's office is asking for the public's help locating her.
|
Need To Dump An Old TV Or Computer?
Beginning in January, recycling of electronics will become a lot easier in Lane County due to a new state wide "E-Cycles" program resulting from the passage of the 2007 Oregon Electronics Recycling Law ... keep reading
|
Free Instructional Materials From EWEB
The Eugene Water & Electric Board makes available a variety of educational booklets, posters and videos to classroom teachers and other community educators in our service area ... keep reading
|
Sleepy Driver Seriously Injured
Two people were injured last Monday afternoon when their vehicle crossed into the opposite lane on Highway 126 and collided with a commercial truck. Police said fatigue was a contributing factor in the crash ... keep reading
|
Goodpasture Bridge Lighting
The Goodpasture Bridge lighting will take place this Sunday, December 7th at 5 p.m. Annual festivities include caroling, refreshments and the lighting of the Goodpasture Bridge holiday lights. This event is free.
|
World's Tallest Lighted Living Christmas Tree Is Over 150 Feet
The tree made its debut at Christmastime in 1994 with over 4,000 C7 Multi Colored lights, however it was soon shut down by the Utility Commission. It made a comeback for Christmas 2003 with over 50,000 microchip LED holiday lights. It is located at Christmas Treasures in Blue River. The 150' tree is lighted daily from Dusk to Midnight and even has its own webcam page ... click here for more
|
Your Next Catch Is Just A Click Away Thanks To New Online Feature
Add hunting and fishing licenses and tags to the ever-growing list of things that can be purchased from the comfort of your home computer. The Oregon Department of Fish and Wildlife's new "Online Sales Web Site" allows outdoor enthusiasts to purchase any ... keep reading
|
Tree Permits On Sale
Christmas tree permits are available at Willamette National Forest Ranger District offices in McKenzie Bridge, Detroit, Sweet Home, and Westfir, as well as several businesses, including the Vida Market ... keep reading
|
Sno-Park Season Off To An Early Start
Starting this year, the Sno-Park season begins two weeks earlier than in previous years, due to a change in state law. The Sno-Park program helps provide for snow removal at about 100 winter recreation areas across the state. People who park in a winter recreation area-a Sno-Park -between November 1st and April 30th will need ... keep reading
|
What To Do If You See A Dead Bird
Birds and other animals die every day in Oregon from a variety of causes. It is not physically or financially possible for ODFW biologists or other government employees to collect and sample every dead bird statewide. However, wildlife biologists and public health officials are on the lookout for diseases that threaten wildlife or the public's health, including West Nile Virus (WNV) and avian influenza ... keep reading
|
Recreation Report
The first general elk season opens this weekend in the Cascades. Elk overall fared well this year and hunting should be similar to last year. Get off your ATV and into roadless areas for the best hunting. See zone reports or the ... keep reading
|
Outstanding Outdoors
Straight ahead, at the start of Marten Rapids on the McKenzie River, an overturned yellow raft bobs between a boulder and downed tree limbs. Attempting to avoid a similar fate, Paul Glowka, our guide, shouts instructions with urgency as he steers our raft into a narrow channel of roiling water on the left: "OK, crew, forward paddle ... keep reading
|
In 112th District:Hovey Makes Reelection Bid
Incumbent state Rep. DebraLee Hovey, R-112, has pledged to introduce several initiatives to address energy issues, among others ... keep reading TrilbyKat's note: Hovey attended the SOI Institute here in Vida, where she became an advanced trainer in the structure of intellect theory.
|
Proposed McKenzie Bait Ban Fails
The Oregon Fish and Wildlife Commission on Friday rejected proposals to limit the use of bait on the McKenzie River ... keep reading
|
Puppy-Killing Virus On The Rise In Lane County
Local veterinarians are tracking a big rise in the serious puppy disease, Parvo. For unvaccinated pups, it can be really bad news ... keep reading
|
Search Fails To Find Missing UO Prof
The search for missing University of Oregon professor Daming Xu resumed last weekend, but was unsuccessful ... keep reading
|
Outdoor Adventures Await
At the south end of Eugene, Spencer Butte attracts many hikers because of the breathtaking view with which they are rewarded. While the hike is challenging, the panoramic view of Eugene and Lane County makes the effort a worthy one. The McKenzie River is also a beautiful destination for adventure-seekers. Because it is fed by the surrounding mountain snow, the McKenzie stays cold throughout the year ... keep reading
|
Commissioner Stewart To Host 'Community Conversations'
East Lane County Commissioner Faye Stewart began hosting a series of community meetings around his district in September. Next month he'll hold two in the McKenzie Valley with community members invited to join Commissioner Stewart for community conversations and refreshments ... keep reading
|
Wreck Victims Improve
A head-on collision with multiple injuries closed the McKenzie Highway a few miles east of Vida last Thursday. The crash occurred just before 6 p.m. on September 18th. According to Oregon State Police reports, the wreck occurred near milepost 28 when the driver of an eastbound 2002 Chevy truck drifted off the roadway. Lenin Ramirez Diaz, 23, of Eugene told investigators when he realized he was going off the road he over corrected and crashed into an oncoming vehicle. Twenty-two year old Ryan Jordan of Medford, Massachusetts, was the driver of the second vehicle, a rented 2008 Ford SUV. Passengers in the SUV included Rachael Trumbar, also of Massachusetts, as well as Sevin Jordan and Lindsay Brock, both of Monmouth.
|
Old Growth Forests Found To Form Valuable Carbon Sinks
Contrary to 40 years of conventional wisdom, a new analysis to be published Friday in the journal Nature suggests that old growth forests are usually 'carbon sinks' - they continue to absorb carbon dioxide from ... keep reading
|
|
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
| |
"I prayed day and night for a miracle...In less than a week, (Somerset) was able to stop the foreclosure and get a new mortgage for me. It was the best of times...I have Somerset Mortgage Lenders to thank until eternity for the miracle they were able to make come true." - Diane B.
|
|