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Mortgage Blog

USDA Rural Development

September 12th, 2008 4:36 PM

We now have USDA Rural Development Loans completely set up In-House and we are rolling full steam. These loans are 100% No Money Down loans that have ZERO Mortgage Insurance. You can only make a certain amount of money to qualify for them, but in our area most people will qualify. Make sure you ask me about them when you come in. They are for Purchase transactions only, not for refinances. It's nice to have another 100% loan option once again.

Posted by Colby Zeka on September 12th, 2008 4:36 PMPost a Comment (0)

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New "Core" Products

September 12th, 2008 4:38 PM

We also have a new set of 30 year fixed mortgage options that are available for people with FICO/Credit Scores all the way down to 500. These are a much more conservative version of the old Alt-A "Sup-Prime" loans that are very safe for the mortgage industry and are also very helpful for people who cannot qualify for an FHA loan. No matter how bad you think your credit is, make sure you give it a shot at getting approved before you give up.

Colby

Posted by Colby Zeka on September 12th, 2008 4:38 PMPost a Comment (0)

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Big Rate Drop

September 12th, 2008 4:33 PM

The interest rates have taken quite a dive this week due to Fannie Mae and Freddie Mac being somewhat taken over by the Federal Government. We are back in the Mid-5's for the first time since March.

Colby

Posted by Colby Zeka on September 12th, 2008 4:33 PMPost a Comment (0)

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