Lenders and Real
Estate Professionals
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Information for Single-Family
Lending and
Real Estate Professionals
Program Announcement
August 19, 2011
Rate Change
Effective August 19, 2011, for new reservations only:
House Key State Bond
4.25% with 2 points |
4.50% with 1 point |
4.75% with 0 points
(Inclusive of Origination point)
New Home For You
4.00% with 2 points |
4.25% with 1 point |
4.50% with 0 points
(Inclusive of Origination point)
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 August 19, 2011.
Manual updates are available for download. Form updates will be available for download on or before August 22, 2011. Please check our Website for updates at http://www.wshfc.org/sf/downloads.html.
IMPORTANT ANNOUNCEMENTS
HUD 184 loans are no longer eligible for purchase by Bank of America.
For Conventional loans, Borrowers are required to have a minimum downpayment of 3% from their own funds for LTVs greater than 80% regardless of AUS findings. Although the Commission is actively seeking an exception from Bank of America on this guideline when used with a Commission downpayment assistance program, we have not been granted an exception as of this date. We will keep you updated on this issue.
Thank you so much for your patience.