The mortgage insurance premium paid on a Oregon FHA loan is always significantly higher than on a conventional program. On a Oregon FHA loan the borrower will be charged a mortgage insurance premium equal to 1.50% of the purchase price of the property and a renewal premium of .500% in subsequent years. By contrast the mortgage insurance premium charged at closing on a conventional program is as low as .500% (with 10% down payment) with renewal rate in subsequent years as low as .300% in subsequent years.

- Oregon FHA Loans

Because Oregon FHA (Federal Housing Administration) loans are government insured, they are offered at cheaper rates. They can be either fixed or adjustable. The cost of the insurance is eventually passed to the homeowner usually via the monthly payments, but it still saves the borrower money. Oregon FHA loans are advantageous because of their low down payment and flexible qualifying. There are also no income requirements and no prepayment penalties. Oregon FHA loans are ideal for first time home buyers, buyers with bad credit, or anyone who doesn’t have enough money to make a large down payment. The entire down payment and closing costs can even be a gift from a family member or an employer. One of our Oregon representatives can help you with any questions you may have, just fill out the form above and we’ll get back to you.

- Oregon FHA Loans Are Perfect for First Time Buyers!

Oregon FHA (Federal Housing Administration) loans are just one of the many programs that are commonly offered to Oregon first time home buyers. Their low rates and easy requirements make them appealing for people who haven’t bought a house before and don't have the assets to backup a mortgage. Anyone can take advantage of them, though. They are also great for buyers who have small or zero down payments. Fill out the above form and one of our knowledgeable Oregon representatives will contact you to see if an FHA loan is right for you.