$1,000 Down/$1,050 per month PITI Buys a $175,000 Home for Medford Oregon Buyers?
By Karen Cooper, Helping Homeowners w/Home Loans in 27 US States
(Karen Cooper | Sr Mortgage Loan Originator ! NMLS # 223305 | First Federal Bank of Florida, Ocala, FL)
Did you know that a First Time Home Buyer in Medford, Oregon could buy a $175,000 priced home with as little as $1,000 of their own funds and have payments of about $1,050 per month including their principal, interest, taxes and insurance on a 30 year fixed rate mortgage? This is less than the Hud Fair Market Rent for a 3 bedroom home in Medford, Oregon - and that's before any income tax deductions you may be eligible for!Alright, but, what kind of loan is this? It is the Oregon Bond 30 year fixed rate mortgage, the RateAdvantage program, which is presently offering a 5.50% interest rate to qualified buyers.But, how much do I REALLY have to come up with? $1,000 or 1% of the purchase price, which ever is lower. This example incorporates several programs you would need to be eligible fo...