Oregon Free Payday Loans

Question: What is the maximum fha loan amount if sales price is 75000 and state is in oregon?

(Posted by: brendan on 2011-11-27 15:06:18)

Posted by: Glenn S on 2011-11-27, 15:24:36

$72,375.00...... For low to moderate income individuals and families there is the CHF Platinum Program. It is were a home buyer can receive up to 3% of the 1st mortgage amount in a grant to be used as a down payment or for closing costs. Credit score must be above 620 and does not have to be a first time buyer.

Posted by: Appraiser guy on 2011-11-27, 15:52:12

All FHA loans are the same in all states. but to answer your question $72,375 and you will need closing costs or a 3.5% down payment.

Posted by: godged on 2011-11-27, 16:45:10

Many areas of Oregon qualify for USDA Rural Development too.

Posted by: Jim on 2011-11-27, 18:25:41

$72.375 is the maximum base loan, but you can roll in the FHA premium into the total so in reality it would be something around $73,000. You have to put 3.5% down. That includes your initial deposit (or earnest money). Have the sellers pay your closing costs so that you only have to put the 3.5%. Or you could also check out to see if you qualify for a USDA loan. No downpayment. Must be at or below the median income in that county. And the town that you are moving to has to be less than 20,000 people.