Dramatic changes in minimum requirements for home buyers may effect your ability to purchase a piece of real estate in Clatsop County. Many zero down programs have done away along with PMI, and new minimum credit scores will shrink the number of qualified buyers further. Fortunately, most of these changes are imposed by Fannie Mae and Freddie Mac so gov’t backed loans like RD and FHA are still alternatives.
In Clatsop County, we’re fortunate to have RD loans available in all parts of the county. Specific income limits apply, but for those with little or no down payment this is the most attractive option.
Home buyers that got pre-qualified prior to April 1 need to contact your preferred lender and make sure the program is still available and meets your needs. The good news is rates are good for now, but will likely begin to climb slightly. Check with your mortgage professional for details.
Unknown Feed- An error has occurred; the feed is probably down. Try again later.
-
No Comments Yet