Colorado Springs CO real estate listings and homes for sale, home buying, home selling information – Melanie A. Henn, Licensed Mortgage Originator

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3.40% "Assisted" Bond Money Loans Available!!!

August 23rd, 2011 11:30 AM

We are pleased to announce that effective this Wednesday, August 24, the El Paso County 2009A bond program
mortgage rate for new loan reservations will be the following:

3.40% “Assisted” Loans with 3% DPA Grant! The new rate will be available for any new loan reservations as well as those loans that are currently registered but not yet closed. No “non-assisted” loans without DPA will be available.

Also, an additional $7.4MM of allocation will be available in the bond program effective August 24! Finally, the program has also been extended, and the new Final File Submission Date will be December 31, 2011. Please note that this is still a short time period to originate loans. However, we hope that with this fantastic rate with DPA, you will have many first-time homebuyer families eager to use the El Paso County bond program, and we expect these funds to originate very quickly.

As you will recall, all program funds are now first-come, first-served, and all participating lenders have access to these
funds. Should your company use more allocation than the original amount purchased, your company will be charged
0.50% of the additional allocation no later than at the end of the program. As a reminder:

• These are 30-year, fixed rate loans for first-time homebuyers (Qualified Veterans and those purchasing homes
in Targeted Areas need not be first-time buyers).
• The 3% down payment assistance grant is a true grant and is non-repayable.
• A 1.00% origination fee may be charged + Standard Lender Underwriting fees and 3rd party fees. Seller contributions up to 6% allowable.

Posted by Melanie A. Henn on August 23rd, 2011 11:30 AMPost a Comment (0)