Welcome to your Local Mortgage Report.
Do you want to buy a home, and you aren’t sure you’ve saved enough money?
I like to talk to people about government-backed mortgages – like FHA, VA, and USDA.
FHA loans are suitable for first-time home buyers. They work for purchases of around $450,000.
They also work for duplexes, triplexes, and four-plexes, if you’re going to live in them.
VA loans are for our qualified veterans who served in the US Armed Forces. They are one of the things we do well for our veterans coming home. They don’t require any down payment.
USDA loans work for those houses outside of the urban growth boundary. That means all of the houses outside of Eugene-Springfield, in Lane County.