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Lars Larson
Lars Larson
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Local News

Great news for Oregon veterans: the Oregon Department of Veteran's Affairs (ODVA) says their 15 and 20 year fixed rate for home loans has dropped to 2.75%.


ODVA spokesman John Coffey says the "ORVET" home loan is not for refinancing; but eligible vets can now get more house  for their money.  "Well, we are primarily what is called a purchase money lender. Federal rules have some very stringent restrictions on our ability to refinance existing mortgages. Therefore our loans are primarily for purchases. This lowering of interest rates allows people to borrow more money at a lower income than was previously available to them. We do not encourage people to go hog-wild. But you can buy a little more house for the money this way."


Coffey says the 30 year home loan is now 3.125% of origination fee.


He says they decided to lower the rates to stay competitive; as interest rates are lower throughout the nation.


Traffic & Weather




  • 27th Street Bear Creek Road and Forum Dr. down to a single lane 6a – 10p Signal light at 27th and Forum will be disabled and only right turns off 27th will be allowed.


  • Road closures along Roosevelt Ave >< Silver Lake Blvd -Chamberlain St. 7a-5p (9/6-11/20)


  • Lane closures and detours Mt. WA Dr at Shevlin Park Road North to Regency (7/11-11/30)
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