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RATES
30 Year Fixed Rate of 6.125% (APR 6.245%)*
15 Year Fixed Rate of 5.875% (APR 6.125%)*
* 30 year or 15 year fixed rate loan with 5% down payment required on a $100,00.00 value. Rate is effective 03 March 2008. Offer may terminate at any time without notice. Rate and annual percetage rate (APR) calculated on a 365 day year with typical/normal closing costs. Rates/APRs subject to change with chnnges in closing costs. Properties and applicants must qualify. Other restrictions may apply.
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| FHA Fixed Rate Loan |
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FHA Fixed Rate Loan
1. 550 Credit Score and above (Currently below 550 is evaluated on a case by case basis).
2. 3% down or 100% Financing with seller of 3%.
3. Fixed Rate Loan
4. No adverse credit in the past year (Prior to 1 year adverse trade lines are okay but will be evaluated on a case by case basis) Judgements and Liens must be settled or paid off.
5. No Prepayment Penalty.
6. Mortgage Insurance Required.
7. 2 Year Employment History.
8. Out of Bankruptcy For 24 Months. Ch. 13 can use the filing date.
9. Out of prior Foreclosure for 3 Years.
Term: 30 years
Maximum Amount: $1,064,225
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| | This is a great program for those with less than perfect credit who have a good job, and debt to income below 43% |
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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