INTEREST RATES FOR MSHDA HOMEOWNERSHIP LOAN PROGRAMS |
- Effective for all loan reservations received on or after Wednesday, November 18, 2009.
- MSHDA interest rates can change frequently. Please check back here for the most current interest rates.
|
|
FIXED RATE LOAN (Interest Rate Remains the Same For the Life of the Loan) |
| Term |
Points |
Interest Rate |
APR* |
| 30 years WITHOUT DPA |
0 |
5.375% |
5.486% |
| 30 years WITH DPA* |
0 |
5.750% |
5.863% |
| *Includes both NSP Programs |
| Conventional funding temporarily limited to 80% LTV |
|
STEP RATE LOAN
(Interest Rate Increases After First 3 Years) |
Term |
Points |
Interest Rate |
APR* |
Years 1-3 |
0 |
4.875% |
4.983% |
| Years 4-30 |
0 |
5.875% |
5.989% |
| MSHDA/FHA and
MSHDA/Conventional Only (Conventional limited to 80% LTV) |
|
ACQUISITION/DEVELOPMENT/RESALE DOWN PAYMENT ASSISTANCE (ADR-DPA) |
Term |
Points |
Interest Rate |
APR* |
30 years |
0 |
5.375% |
5.486% |
MSHDA/FHA, MSHDA/Conventional
or MSHDA/RD Guaranteed Loans Only
(Conventional limited to 80% LTV) |
|
GRADUATE PURCHASE ASSISTANCE PROGRAM (GPA) |
Term |
Points |
Interest Rate |
APR* |
30 years Without DPA |
0 |
4.125% |
4.228% |
MSHDA/Conventional Loans (Limited to 80% LTV) |
|
| |
| *The annual percentage rate (APR) quoted above represents a typical $99,200 FHA-insured, fixed rate loan on a $100,000 home with a down payment of $2,250 and financed Upfront Mortgage Insurance Premium (UFMIP). This APR is based on a 1% origination fee, 15 days interest adjustment and $220 for loan closing fee. Please note that the actual APR may vary depending upon the Mortgage Loan Fees the participating lender charges the borrower. |
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