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Hood River County, Oregon FHA, VA, and USDA Loan Information

Table of Contents

-How to Purchase a Home in Hood River County
-What are the government loan limits in Hood River County, OR?
-What parts of Jefferson County are eligible for USDA loans?
-Do I need flood insurance?
-How do I learn about Property Taxes in Jefferson County
-What is the median home price in Jefferson County, OR?
-How many people live in Jefferson County?
-What are the major cities?
-How do I see FHA- and VA-Approved homes for sale?
-Is there a cost to have a real estate agent represent me?
-What closing costs do I need?
-How can I get assistance with closing costs?
-About Jefferson County
-How much of a loan can I qualify for, based on my income?
-Approved Condominium Projects in Jefferson County

Steps to Buy a Home in Hood River County

Are you interested in buying a home in Hood River County? This is a step by step guide to all the ins and outs of the homebuying process. For more detail about FHA loans, be sure to check out our complete guide. We also have an in-depth guide to VA loans and the USDA’s Rural Development home loan program.
For now, let’s look at the basic steps to buying a home – and what you’ll have to look out for in Hood County.

  1. Get in touch with a loan officer – give us a call at 877-432-5626 We can help you figure out what type of loan you might qualify for. Programs through the VA, USDA, and FHA allow you to buy a home with a small down payment – or no down payment at all. We will also check your credit and income to see how much of a loan you can qualify for. When we do this, we do a “soft pull” on your credit. This is different from an official credit inquiry and won’t hurt your credit score.
  2. Compare loan offers. Either call us or fill out the form on this page.
  3. Give your Loan Officer the information they need to find you a loan For a purchase loan or cash-out refinance:
    • Your ID
    • Previous two years of W2s
    • Most recent 30 days paystubs
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
      For a refinance loan, you will also need information on the loan you want to refinance.
  4. Compare Loan offers Compare the interest rates and APRS – but keep in mind that the fixed- and adjustable-rate mortgages are apples and oranges. Use the Loan Estimate to compare the true costs of each loan, both month-to-month and over the life of the mortgage.
  5. Find a home Get connected with a FedHome Loan Centers Real Estate Agent. Once you meet with them to talk about your wants and needs, you can sign up for the property search feed. This will give you alerts about homes for sale in Hood River County. Now you’re ready to preview properties and start touring homes.
  6. Make an offer and negotiate the terms of the sale
  7. Get the necessary and recommended inspections Required Inspections:
    • Termite Inspection
    • Well or septic inspections, if applicable
    • We can help you check if your home is in one of the Hood River County flood hazard areas.
      Recommended Inspections:
      Home Inspection, Roof Inspection, Sewer Inspection
  8. Get the home appraised Construction loans require a construction appraisal and permit approval
  9. Lock in your interest rate Pro Tip: Wait until the appraisal to lock in your loan rates. If it turns out you need to make repairs, it can push the closing back. Then you run the risk of losing that rate or having to pay an extension fee.
  10. Close the deal and get packing! You’re ready to go!

FAQ

What are the Loan Limits for Hood River County?

  • FHA Loan Limit $477,250 (Single family residence) / $610,950 (Duplex) / $738,500 (Triplex) / $917,800 (Fourplex)
  • USDA Loan Limit $381,800
  • VA Home Loan Limit $0 down up to $3,000,000 / 2 open VA loans at one time $510,400 *(Call 877-432-5626 for details).

What Parts of Hood River County are eligible for USDA Loans?

  • Most of Hood River County is eligible for a USDA Rural Development home loan.
  • Eligible Zip Codes: 97014, 97031, 97041.

Do I need Flood Insurance?

  • The FHA, USDA, and VA all require flood insurance in Special Flood Hazard Areas.
  • There is currently no digital data about Hood River County or its flood hazard areas in the FEMA Flood Map Service Center.

How do I learn about Property Taxes in Hood River County?

  • Brian D. Beebe is the Hood River county tax assessor. His office is located at 601 State Street 3rd floor Hood River, Oregon 97031, or can be reached by calling (541) 386-4522.
  • The state of Oregon offers businesses that invest and hire in enterprise zones the option to be exempt from property taxes for at least three years. In addition, the Oregon Investment Advantage program encourages new businesses that are starting as well as the ones who are relocating to the state with various incentives. For example, the program offers income tax subtraction and elimination of state income liability for new businesses for many years.

What is the Median Home Price in Hood River County?

As of August 31st, 2020, the median home value for Hood River County is $479,352. In addition, the median household income for residents of the county is $62,935 which is higher than the national average.

How many people live in Hood River County?

As of 2019, Hood River County’s population is 23,382 which includes about 1,166 veterans. Moreover, demographically speaking, 77% of the population is White, with 18% Hispanic, and 2% Mixed Race.

What are the major cities?

The county has two cities, Cascade Locks and Hood River, the latter of which serves as the county seat.

How do I see FHA- and VA-Approved homes for sale?

You can view all of the properties available for sale in Hood River County through the Multiple Listing Service. You can also see approved condos at the bottom of this page.

Is there a cost to have a real estate agent represent me?

The seller must pay the real estate professionals’ commission, not the buyer. This means that, as a homebuyer, there is no cost to have a real estate agent represent you. In fact, it’s a good idea to get your own agent in order to have someone in your corner during the negotiation process. For more information about real estate agents, click here.

What closing costs do I need?

For FHA loans, closing costs can end up being 3-4% of the loan amount. These costs include origination fees from the lender, any discount points purchased for a better interest rate, and pre-paid items like insurance and taxes.

Can I get assistance with closing costs?

There are several ways to reduce the amount you have to pay at closing. One way is to get down payment assistance. The FHA’s Within Reach program provides grants to help low- and middle-income families with their down payment.

About Hood River County

Established in 1908, the county came as a result of people in the Hood River region of Wasco county wanting to separate politically from their county. The county was named after the Hood River, which was named after Lord Hood, a member of the British Navy during the American Revolution, which borders it to the east.

Today, the county has the same border that it did when it was established, making it the 2nd smallest county in the state. In addition, the local economy of the county depends on its agriculture, tourism, and healthcare industries. Moreover, the biggest employment industries in the county are agriculture, healthcare, and retail. Hence, the most common occupations in the county are farming, management, and administration.

The county is part of the Mid-Columbia Economic Development District which provides resources for growing and expanding businesses, as well as businesses relocating to the county. The program helps businesses by providing business loans and other funds that are necessary for financing the growth of the business.

Educationally speaking, the county is serviced by the Hood River County School District which includes eight schools ranging from K -12, and houses around 4,082 students in the district annually. 

Finally, the county is also home to great recreational areas like Mount Hood Recreational Area, Mount Hood Meadows Ski Resort, and the Lost Lake. In addition, the Columbia River which borders the county to the north is famous for being a premier windsurfing area.  

How much of a loan can I qualify for, based on my income?

Monthly Income Purchase Price
$2,628.90 $195,175.91
$2,832.00 $210,254.55
$3,181.50 $236,202.27
$3,612.00 $268,163.64
$3,985.50 $295,893.18
$4,361.10 $323,778.64
$4,971.90 $369,125.91
$5,761.50 $427,747.73
$6,892.20 $520,625.00
$5,199.60 $368,791.82
$5,743.80 $408,815.91
$6,249.90 $450,287.73
$6,998.10 $501,960.45
$9,776.70 $725,845.91
$5,568.00 $413,381.82
$6,574.80 $488,129.09
$7,569.60 $561,985.45
$5,141.40 $381,710.00
$6,345.30 $471,090.45
$7,639.80 $567,197.27
$8,360.10 $620,674.09
$9,260.70 $687,536.82
$10,095.30 $749,499.55
$12,165.00 $903,159.09
$13,929.60 $1,034,167.27
$17,511.00 $1,300,059.09
$18,406.80 $1,366,506.06

Purchase Price subject to credit and income evaluation. 

Approved Condos in Hood River County

Currently, there are no FHA or VA approved condos in Hood River county. Contact us by calling (877) 432-5626, and by clicking here. We can help in getting you a mortgage or getting a condo through the approval process.

Finance Your Perfect home in Hood River County

Apply for a home loan today to receive the lowest interest rates and monthly payments.

Finance your new home with the help of FedHome Loan Centers.