End of the month is real estate is always interesting plus throw in the tax credit rush and should be even more excitement. Have a great end of the month.

1. USDA Loans

Funding Information as of: April 26, 2010 USDA Guaranteed Rural Housing

Total of $1,149,457.147 funds available for Home Purchase on USDA loans

There are two Bills (HR 5017 and HR 5003) that are scheduled to be presented to the House and if voted and passed will allocate an additional 26B in funding for the program. Will Keep you up to date!

2. FHA Updates

Having success with our FHA 203ks loan program. The date on the 203ks class is May 7th @ 11am. Spots will be limited 3 spots left if you have not registered.

MORTGAGE RATES

Loan Programs

Interest Rates*

30 Year
Conv.

Low 5′s

30 Year
FHA/VA

Low 5′s

Rural
Development

Mid 5′s

5/1 Arm
Conv.

Low 4′s

7/1 Arm
Jumbo

Low 4′s

Please contact us for specific situations and specific rates.

*Risk Based Pricing will affect rate offered.

UNDERWRITING TIMES

Loan Programs

Underwting time

Conv

1 Days

FHA
& VA

4 Days

203K

4 Days

Rural
Housing

7 Days

DCA

4 Days


MORTGAGE RATE TRENDS


DAILY RATE LOCK ADVISORY

For an in depth explanation The Daily Rate Lock Advisory.