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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

July 7, 2010
House Key Heat Wave Pilot Program

The Commission is pleased to announce the funding of a Heat Wave pilot program summer rate for first mortgages without Commission downpayment assistance.

680+ credit score required.

Issue Amount: $20,000,000.00

Effective July 7, 2010, for new reservations only:

Interest Rates

4.00% with 2 Points
4.25% with 1 Point
4.50% with 0 Points
(Inclusive of Origination point)

Loan Term: 30 Years

You cannot cancel and re-reserve a loan to receive a lower rate.

The new rates apply to new reservations on the Mitas system made after this announcement on July 7, 2010.

Date of Availability

Loan reservations will be accepted for this program beginning 07/07/10. This special rate is for borrowers with a 680 credit score or higher who will NOT be utilizing the Commission’s downpayment assistance programs.

For Borrowers using downpayment assistance including House Key Plus, Veterans, Schools, HomeChoice, Bremerton, Federal Way, ARCH, CLT, etc., please continue using the House Key rates listed on our Website at 5.0%, 5.25% and 5.5%.

New Home For You funds are still available for newly constructed never occupied homes. 680+ credit score required. House Key Plus downpayment assistance funds receive a reduced rate of 3% amortized over 10 years under New Home For You.

Manual Updates are available at http://www.wshfc.org/sf/downloads.html.

E-mail Addresses

The Commission currently provides Program Announcements via e-mail. Please provide your e-mail address to lisa.debrock@wshfc.org.

 

 
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