Many borrowers choose to lock in mortgage rates when buying a home or refinancing to help protect themselves against any sudden increases in interest rates while the loan is being processed. And with rates on the rise, lenders have reported an increase in lock-in agreements in recent weeks.
A Pittsburgh man returned to his home after the holidays to find workers demolishing it. Andre Hall, 40, purchased the foreclosed home in November with the plans to fix it up for his family.
The Oregon State Bond CashAdvantage and RateAdvantage Home Loans are once again funded and active. This program offers qualified borrowers a choice between two different ways to increase their home purchasing power. With the CashAdvantage option, borrowers receive a low, fixed interest rate on their home loan, as well as cash assistance equal to 3% of their loan amount. Borrowers who choose the RateAdvantage option receive the lowest possible fixed rate (currently 3.875%).
The Oregon State Bond Residential Loan Programs are now active and searchable on HOWNW.com.
Source: PMAR.com