Oregon Department
of Veterans Affairs
Available
in 15-20-25-30 year terms.
Description and Eligibility:
- Honorable Discharge from
active Duty
- Resident of Oregon at time of
application.
- Have served 210 days of
active duty other than for training; or if less than 210 days but released
or discharged due to a service related injury or illness; or served in a
theater of operations for which a campaign or expeditionary ribbon or
medal is authorized by the United States.
- Eligibility expires 30 years
after discharge or separation from active duty.
- Eligible Properties are
limited to single-family owner occupied dwellings. Must be classified as
real property. Manufactured homes are fine as long as the land is
included. This eliminates houseboats and manufactured homes in parks.
Maximum Loan Amount: Subject to FNMA
limits, presently $275,000.
Loan Purpose: Purchase only.
Property Types: Single Family Attached/Detached, Condominiums
or PUD's (with restrictions).
LTV - Loan to Value: Maximum 95% normally (some restrictions
may apply).
PMI - Mortgage Ins. Premium: PMI required if loan to value
exceeds 80%.
Buydowns: No.
Assumable: No.
Gift Funds Allowed: Yes, with restrictions.
Advantages:
- Enjoy a low fixed rate for
the full term of your loan. Call for current rate.
- Excellent for first time
buyers - small investment needed to close.
These products and/or
services are only offered in jurisdictions where they may be lawfully offered
for sale. Facts and data provided are obtained from sources believed to be
reliable, but we cannot guarantee that they are accurate or complete. This data
is not intended to provide legal, accounting, or tax advice and should not be
relied upon in that regard.
For more complete information call Howard
Hudson at (503) 693-1894 or click
here to send a message.
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Index Page.