VA Guideline update Nov 2013

Great news!  Federal VA loans no longer require a home to be hooked up to city water and sewer. In the past this was an expensive requirement to meet VA loan guidelines. Now if the home has a private well or septic system, even if  city services are available, VA will not require hookup unless otherwise required by local laws!

 This change will save thousands of dollars on

each home that falls into this category!

Read the full VA memo, here:  http://www.benefits.va.gov/homeloans/documents/circulars/26_13_24.pdf

Oregon Department of Veterans' Affairs program pricing change

Effective immediately the Oregon Department of Veterans’ Affairs (ODVA) has increased the available interest rate options for 15 to 30 year fixed rate ORVET home purchase loans.

Even though rates have increased, the ODVA program is still a very competitively priced option for Oregon veterans.

·       3.99% on 30yr fixed rate with NO origination fee.

APR of 4.003% if $400,000 sales price and 20% down ($80,000)

·       3.75% on 30yr fixed rate with an origination fee of 1.375%.

APR of 3.876% if $400,000 sales price and 20% down ($80,000)

·       3.25% on 20yr fixed rate with an origination fee of 1.375%.

APR of 3.422% if $400,000 sales price and 20% down ($80,000)

All rates are subject to change. Call us today for more information!