Loan Rates
Effective 04.29.08
Rates remain unchanged since last week.
| Term | Rate | |
| MRB First Step | 30 yr | 6.375% |
| MRB First Step with a CHFA 2nd | 30 yr | 6.625% |
| Taxable Home Opener | 30 yr | 7.000% |
| Taxable Home Opener with a CHFA 2nd | 30 yr | 7.250% |
| CHFA HomeStretch | 40 yr | 7.375% |
| CHFA HomeStretch with a CHFA 2nd | 40 yr | 7.625% |
| FHASecure Refinance | 30 yr | 7.000% |
| FHASecure Refinance with a CHFA 2nd | 30 yr | 7.250% |
Attention all lenders:
Please inform your clients who are taking the online homebuyer education that it is meant to be an individual learning experience; therefore, all borrowers must be individually certified, which means each person receiving a loan must complete the appropriate certification course independently.
Homebuyer education can be obtained in either the classroom setting or by taking CHFA’s class on line. Some mortgage insurance companies provide a reduction in the mortgage insurance premium if the borrower participates in classroom homebuyer education. This online class will meet all of CHFA’s requirements; however, it may not meet the educational requirements of mortgage insurance companies or other down payment assistance programs. Please discuss this issue with borrowers to determine which educational setting, on line or classroom, will meet the requirements of the loan programs in which they are participating.
Please remind your coworkers to signup for the Home Finance eNews or Loan Rates Updates. Simply click the Forward Email link at the bottom of this email to pass this information along to others. Everyone in your company can subscribe if interested, and you can unsubscribe at any time.
