Reality Homes: Large Growing New Home Builder Building Quality Homes with 100 Precent Financing in Oregon and Washington

Reality Homes is a large and growing new home builder offering quality homes with 100% Financing in Oregon and Washington. Our new construction Contractor building quality homes with 100% Financing for new homes in Oregon is Reality Homes Inc.!

Hiline Homes, Adair Homes, Stanbrooke Homes, Mobile Homes are no match for Reality Homes Inc. When it comes to Eentry level homes for first time buyers, renters, mobile home replacement, and spec builders who need 100 percent finincing to be able to afford bulding a new home.

From PRWEB:

"Troubles in the U.S. mortgage

industry nationwide have caused many lenders to tighten their policies and

curtail many of the creative financing programs so popular among homebuyers

during the recent housing boom. This lending crackdown has left few options

for those without large cash reserves, but at least one often-overlooked

type of financing is still available in Washington and Oregon.

Troubles in the U.S. mortgage

industry nationwide have caused many lenders to tighten their policies and

curtail many of the creative financing programs so popular among homebuyers

during the recent housing boom. This lending crackdown has left few options

for those without large cash reserves, but at least one often-overlooked

type of financing is still available in Washington and Oregon.

People hear 100 percent financing and assume you are talking about the

risky piggyback loan programs that have now gone the way of the dinosaurs,"

says Reality Homes' General Manager Pat Eppright. "The lenders we work with

still offer a 100 percent financing option that is quite different, and

remains an attractive option for those interested in a new home."

Mortgage lenders traditionally require a 20 percent down payment, but

during the recent housing boom, many homebuyers found they could borrow it

by taking out a second or even third loan. According to one survey by the

National Association of Realtors, up to 40 percent of first-time homebuyers

bought their home with no-down-payment mortgages in 2005 and 2006. Lenders

assumed that rising home values would allow the homeowner to sell or

refinance if they had trouble making the payments. Home values have instead

dropped for 12 consecutive months in most of the country and these popular

piggyback loans have virtually disappeared. Home values in Washington and

Oregon, however, continue to rise.

"Our program is unique because it teaches homeowners how to earn their

equity by managing some of the early stages of constructing a new home,"

Eppright explains. "The homeowner's involvement and our proven track record

combine to create instant equity, so lenders are willing to offer

conventional mortgages with up to 100 percent financing before construction

even begins."

For example, one of Reality Homes' more popular plans is a 2,135 square

feet home that the company offers for about $99,000 or as little as $46 per

square foot. In most rural parts of Washington and Oregon, you can find a

nice parcel of land for under $80,000. Add an additional $25,000 for a

building permit and other site improvements, and the future homeowner will

need a total of $204,400 to build their new home.

To finance the entire package, mortgage lenders will complete a

pre-construction appraisal and may determine that comparable new homes

(e.g., similar types of construction, materials and finish, etc.) in the

area are selling for $125 per square foot or $266,875. Lenders are still

willing to fund up to 80 percent of a new home's appraised value or

$213,500, which is more than 100 percent of the amount needed in this

example. In many cases, the lender can arrange a one-step loan in which the

construction loan automatically rolls into a mortgage on completion of the

home so no additional paperwork or approvals are required.

Companies like Reality Homes work regularly with lenders who can assist

future homebuyers with the pre-approval, credit application and actual loan

process. All of the lenders offer very competitive rates and closing costs.

About Reality Homes

Reality Homes Inc. is one of the largest builders of affordable homes

in Washington and Oregon. The company specializes in building quality new

homes on property purchased by its customers, and offers more than 25

customizable floor plans in sizes ranging up to 3000 square feet or more.

Homes start as low as $38 per square foot and include generous standard

features with numerous upgrades available. Future homebuyers can visit any

one of its six locations in Burlington, Centralia, Fife, Sequim, Woodland

or Woodburn, Ore. or online at http://www.realityhomesinc.com.

CONTACTS:

Pat Eppright, (253) 926-6822 Kevin Bush, (206) 443-9357

Reality Homes Firmani + Associates, Inc.

pat.eppright@realityhomesinc.comKevin@firmani.com"

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