Industry Updates:
August, 2008
RATES:
Rates continue to climb as the market continues to react to fears of instability in our economy. Economic reports such as the most recent CPI report, jobless claims & an increasing spread between mortgage backed securities & the treasury continue to support this fear, influencing the continual uptick of the 30 year fixed rate. On a brighter note, Flagship has access to many city & state bond loan programs offering lower rates and down payment assistance. These bond loans have income limitations. Please call today to see if you qualify!
NEWS:
On October 1, 2008 FHA will be implementing a new set of changes. Most notable is the increased down payment requirement from 3% to 3.5%. Stay tuned for more details...
ATTENTION BUYERS:
Utilize the FHA loan with a 3% grant & you may be able to buy a home WITH NO MONEY OUT OF POCKET! Seller can contribute up to 6% of the sale price towards your closing costs. This will only be available through October 1, 2008. Please call me today for additional details...
"If Flagship can't fund the loan and Flagship can't broker the loan, there is no loan!"