Archive for the ‘USDA’ Category

The Four Steps To Properly Setting Goals
FromRic Edelman’s Inside Personal Finance

If your goal is to buy your first home in Oregon? We can help!  Please check out http://www.salemoregonpropertysearch.com/ for all your home searching.

If you need help with other goal setting, please see below.
First, set a positive goal for yourself.“I will save to buy a home” is a positive goal, while “I will not spend money” is a negative goal. By focusing on the positive, you’ll quit spending money because you’ll be so focused on your goal that you won’t notice you’ve stopped spending money.

Second, set a date for achieving your goal. A goal is not a goal until you set a date for it. So set a date for achieving your goal, and make sure your date is attainable. If it’s not, you’ll become discouraged and quit. But don’t set a date so far away that achieving it is pointless. “I want to be debt free by the time I die” is a silly deadline, because you won’t be able to enjoy the benefits of achieving that goal.

Third, write it down. Until you see your goal in front of you, it’s not real. Tape your goal onto your bathroom mirror, your refrigerator door, your car’s steering wheel, and your PC’s monitor. Keep reminding yourself of your goal. One client of mine kept a picture of his dream house above his television. Another, who wanted to buy a Jaguar, bought a Matchbox version for five bucks and kept it in his pocket. His co-workers regularly saw him playing with it at his desk. (Today, he drives the real thing.)

And fourth, stay focused. Keep your goal in front of you. If your goal is to buy a home, tour model homes. Read House and Garden, Architectural Digest, and similar magazines. Design your own floor plan. By immersing yourself in your goal, you’ll find it easy to stop spending money, because you won’t regard it as “not spending.” You’ll regard it instead as “preparing to spend my money on something really special.”

Focus on the benefits you’ll derive by reaching your goal, not on the sacrifices you’re enduring. If you can’t perceive the benefits, you won’t achieve your goal, and even if by some chance you do reach your goal, you won’t sustain your victory.

Keep all this in mind as I show you the mechanics of getting out of debt, for if you simply follow the steps I outline for you, you won’t do yourself any good. Oh sure, following my plan will get you out of debt – but it won’t keep you out of debt. Only you can do that.

Set your goal, give yourself a deadline, write it down, and stay focused. You’ll be amazed how far this will take you.

Named #1 on Barron’s 2009 List of Top 100 Independent Financial Advisors, Ric Edelman is chairman and CEO of Edelman Financial Services, the host of “The Ric Edelman Show,” and the best-selling author of seven books on personal finance. His firm manages billions of dollars for consumers nationwide. Visit RicEdelman.com to learn more.

Ric is President and Director of Sanders Morris Harris Group. Ric is an Investment Advisor Representative and offers advisory services through EFS an SEC-registered investment advisor. He is also a Registered Representative of and offers securities through Sanders Morris Harris Inc., an independent broker/dealer, member FINRA/SIPC.


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USDA Update

USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011

What Does This Mean To You?

USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.

But a change is coming! Now is the time to contact me, rates remain at all-time lows and home prices are down!

Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan.

If you’re thinking of purchasing a home and you’re wondering if you may qualify for a USDA loan, give me a call right away. Home loan rates are still very attractive. Let’s see if this program is right for you…before the October 1 fee begins.

Please let me know if I can assist you in any way today! I’m here to help.

Travis Newton

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This’ll be a short Blog entry, but well worth the read!

Supplement bill HR 5017 (The USDA Bill) Rural Housing Preservation and Stabilization Act of 2010 has passed the House! The majority of the House (85%), voted in favor of HR 5017. Once the bill passes the Senate and is signed into law by the president, we will have an additional 30 billion in funding.

As always thank you for your support in this much needed affordable housing program.

I will keep you updated as soon as this happens!

Travis Newton
Oregon USDA & FHA Expert
ML 137

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Early last month we were told by a few USDA officials that the funds may not last through the end of April. With the new bill being introduced to Congress (https://oregonfhaloans.wordpress.com/2010/04/14/usda-update-and-its-a-good-one/) we may not have any funding lapses anyway.  With that said, here is an update on the 2010 Fiscal Year Funds:

The total amount allocated was $13,533,633,697. As of April 19th, 2010, we have used $11,797,934,866 of those funds, which leaves $1,645,879,942 available for purchases. 

This *should* get us through the end of the month and the $8000 tax credit rush.

There are many changes to the USDA program being discussed. As always I will forward that info as soon as I receive it.


Funding information as of April 19th, 2010

USDA Funds Utilization Data

Total FY2010 Allocation = $13,533,633,697

Total YTD FY 2010 Obligations (Funded Loans) = $11,797,934,886

Total available Funds for purchase transactions: $1,645,879,942

Please contact me with any questions or concerns. I can be reached at 503.931.4490.


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Oregon USDA Loans

USDA Program Makes “Rural” Homes More Accessible

One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of “no-money-down programs” evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home loans.

Guaranteed by the USDA (United States Department of Agriculture), this program might make you think that you have to buy farmland or live “in the country” to qualify, but this is often not the case. In fact, you might be surprised to see just how many neighborhoods actually do qualify as rural development areas. For this program, the term “rural” really applies to those areas with a lower population or fewer homes, not necessarily those areas and neighborhoods far outside of the city.

There are several benefits of the USDA loan program besides no money down. The program also does not require private mortgage insurance, and the seller is allowed to pay all of your closing costs and pre-paid items up to 6.00% of the total sales price of the property. And while this is great news for first-time home buyers, it’s important to note that you don’t have to be a first-timer to qualify for a USDA loan.

Other than the location of the property you’re seeking to buy, there is one other limitation to this valuable program that you must consider: your income. Luckily, however, these numbers have recently increased to allow more potential buyers to take advantage of this special program.

The USDA program is egible in many areas such as: Stayton, Silverton, Aumsville, Monmouth, Dallas, Woodburn, Wilsonville, Canby, Turner, Jefferson, Philomath and Mt. Angel to name a few. Some areas of Salem and Keizer are also elgible.

To find out more about USDA loans, give us a call. We can have an answer as to whether you qualify for this program in just a few minutes.  503.931.4490

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