909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Free First Time Home Buyers Class To Be Held May 15th

For Immediate Release

Thursday, May 6, 2004

Contact: Fred Postlewait
              Oregon Coast Bank

Newport, OR – A team of Lincoln County industry professionals will offer a free First Time Home Buyers class on Saturday May 15th from 10am – 5pm. The program will be held in the board room at Oregon Coast Bank, which is located just across from the Embarcadero on Newport’s bayfront. Attendees should bring a brownbag lunch.

The class is designed to educate the novice home buyer about the advantages and pitfalls of purchasing real estate. Sessions will be taught by Larry Holloran, Principal Broker of Pete Anderson Realty; Chris Orchard, a Real Estate Loan Officer at Oregon Coast Bank; and Katrina Phinney, a Real Estate Loan Officer at Oregon Coast Bank.

Many consumers have discovered that current mortgage rates (which are close to 40-year lows) enable them to own a home for a monthly payment less than or equivalent to what they are presently paying for rent. However for many people, buying a first home can be an intimidating process, which is why First Time Home Buyers classes have become so popular.

“When long-time renters find out how inexpensive and easy home ownership can be, they’re usually surprised,” explained Orchard. “The fact is with current rates as low as 5%, your mortgage principal payment on a $100,000 loan can be less than $550 a month.”

If you are interested in attending the May 15th session or a future class, please contact Larry Holloran at 541-994-9133 or Chris Orchard at 541-265-4806.