Harney County, Oregon
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Harney Real Estate Market Update
Harney County, Oregon, is experiencing a dynamic real estate market with a median listing home price of $385,000 as of October 2024, reflecting a significant increase of 35.6% year-over-year. The median price per square foot is $188, and the median sold home price is $205,000, indicating a buyer's market where homes typically sell for about 5.13% below the asking price.
The county's largest city, Burns, has a population of approximately 2,800 and serves as a central hub for the region. Hines, another notable city, is smaller with a population of around 1,500. Both cities are known for their small-town charm and serve as key locations for residents seeking a rural lifestyle.
Living in Harney County offers a predominantly rural experience, with vast landscapes suitable for agriculture and ranching. The county is the largest in Oregon, emphasizing its expansive rural character. Agriculture and government services are the top industries, attracting people interested in farming or seeking a quieter, more spacious living environment. The migration pattern often includes individuals moving from urban areas to enjoy the county's natural beauty and slower pace of life.
2025 Mortgage Loan Limits:
Harney County, Oregon
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Harney County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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