PERCEPTION REALITY
Banks Have no money for mortgage Loans Umpqua Bank has plenty of money to lend, and we’re ready to use it to help you get settled into your new home
No one can get a home loan right now We’re closing nearly $60 million in new mortgage loans every month; our customer are building, buying and financing their homes.
You must have 20% into the deal not Government – sponsored loan programs can require as little as 3.5% down, and loans with a 95% loan-to-value with out on finance are still available.  We’ll help you evaluate what you can borrow and connect you to the program that makes sense for your specific situation.
Down payment assistance programs have disappeared Some down payment assistance programs have disappeared, but many are still available through city, state and local community development organizations
You must have stellar credit to get a mortgage loan Though the industry overall has seen a tightening of credit criteria, our lending practices have not dramatically changed.  Talk to us to see where you stand.

THERE ARE NUMEROUS LOAN PRODUCTS AVAILABLE:

• Conventional – fixed and arm products with a loan amount less than $417,000.

• Non-Conforming – fixed and arm products with a loan amount greater than $417,000.

• FHA –   3.5% down payment (can be gifted by acceptable source).  Flexible downpayment sources.

• Oregon Bond – Loan must be conventional, FHA or Rural Housing.  Income restrictions and designed for first time homebuyers

• Rural Housing – Must be in rural housing area.  100% financing based on appraised value.  Adjusted household income can not exceed the maximum allowable income

• VA – Guaranteed by federal government based on the amount of entitlement to the veteran in the conjunction with loan amount.

• ODVA – loans are conventional fixed rate designed for veterans.

• All-in-One Construction – Must be for primary or second home

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