Zero down still possible!

Home ownership is within your reach, ” says Kim Rathbun at OnPoint Community Credit Union at 207 Coburg Road, in Eugene. She lights up as she talks about a couple of programs OnPoint is offering right now to help buyers purchase a home.

The first program is designed to reward teachers and school employees for their service to our community. 100% financing is available at fixed terms for 30 years for owner occupied residences. These property types include single family, PUD, condominium and manufactured homes.

The second program is similar, but is available to first time home buyers or those who have not purchased a home within the last three years. The current program provides up to 100% financing “I’m very excited about these two wonderful programs,” she says.

You may need to have a checking account with OnPoint, as well as meet OnPoint’s membership requirements, and of course not all applicants will receive approval.

Kim was born and raised in Eugene, loves to hike, garden (she even grew a cantaloupe here once), and spend time with her family, which includes two small dogs, Rocky and Jackson. She has been with OnPoint for about two years, and was in the banking industry before then.

“It’s all about building ongoing relationships and providing a service to people,” Kim tells me. “I enjoy giving people the information they need to help them reach their goals.”

Kim can be reached at 868-8095. She would be happy to explain in further detail the two programs mentioned above or any other options available to help you achieve your dream of owning your own home.

Kim Rathburn of OnPoint.

Kim Rathburn of OnPoint.

Zero Down Payment!

Is 102% financing for home mortgages still possible? YES! That means you can still buy a house with no money down. Surprisingly, it’s the USDA that is making this possible. That’s right, the United States Department of Agriculture. More surprisingly, your house doesn’t need to be a farm, have livestock, crops or even be within sight of a tractor.

Last week’s WSJ ran an article describing the new found popularity of the Rural Development Guaranteed Loan Program. There are a couple of notable things to qualify. Firstly, the property must be in an area of low population density. In Lane County, everything but the greater Eugene and Springfield area meets this qualification.

Secondly, there are income limitations, which are based on the number of people in your household and where you live. In general, your adjusted gross income can be about 50K to 60K in Lane County, depending on household size. The specifics of the program are best determined with a loan officer.

One of my friends specializes in writing these loans. His name is Cody Gielish at Countrywide. He can be reached at 681-4353.

Specialist in Rural Loans.

Cody Gielish: Specialist in Rural Loans.