Oregon Mortgage Rates
April 26, 2015 05:40 AM Eastern
Oregon Mortgage Rates and Home Buying
If you love the great outdoors, Oregon is for you. From white water rafting to horseback riding and camping, Oregonians often seem to get their biggest charge from being in the wilderness. If you’re considering buying a home in Oregon, you’ll need to consider current OR mortgage rates.
Oregon mortgage rates are dependent on many different factors. Considering all the components that go into buying a home may be daunting for first time home buyers. Fortunately, there is an agency that is designed to walk first time home buyers through the process and help them understand OR mortgage rates.
Learning About OR Mortgage Interest Rates Through the OHCS
One of the most important considerations when choosing to buy a home in Oregon are the mortgage interest rates. Current OR mortgage rates at the time you purchase your home will determine the amount of your monthly payments and how much you’ll end up paying throughout the life of the loan.
The Oregon Housing and Community Services Department (OHCS) is a government agency designed to help buyers—especially first time buyers—understand the home buying process. This training and assistance includes an overview of Oregon mortgage interest rates so you know exactly what to expect.
The OHCS also helps first time home buyers in Oregon by offering below-market rate loans. through the Oregon Bond Loan program. The interest rates for these fixed-rate loans are lower than current OR mortgage rates. To apply for acceptance into this program,this loan, contact one of the approved OHCS lenders and ask about the Oregon Bond Program.
Oregon Mortgage Rate Assistance Through the HECO Training Program
Current OR mortgage interest rates are only a small piece of the puzzle when it comes to buying a home. If you are overwhelmed with the process, you can benefit greatly from the Homeowner Education Collaborative of Oregon (HECO) and its training course "The ABC’s of Home Buying."
In addition to education on Oregon mortgage rates, the program provides a comprehensive overview of the entire home buying process. The classes are taught by real estate professionals who have experience helping first-time homebuyers in the state.
In addition to helping you find low Oregon mortgage rates, the HECO class covers the following:
• finding the right home for you
• getting your finances in order to buy
• keeping your new home protected
• learning about mortgage details
• making housing decisions
• obtaining your loan
If this program is not in your area, your lender may be able to recommend a similar program, which will assist you in the process of buying a home and securing low OR mortgage interest rates.