Home Mortgage Center News IHDA Rates Released - July 28, 2008 - Includes Grant
IHDA Rates Released - July 28, 2008 - Includes Grant PDF Print E-mail
Written by Chris Richter   
Monday, 28 July 2008 15:00
Effective June 28, 2008, the Illinois Housing Development Authority will change its interest rates for the First-Time Homebuyer Program. The new rates for both “non-targeted” and “targeted” properties are as follows:

6.75% - 0 Points
6.60% - 1 Points
6.45% - 2 Points
6.30% - 3 Points

This change is for new reservations and does not effect loans already reserved. Also, once a loan is reserved the rate is locked for 90 days. If you need a longer rate lock, we suggest you select the extended rate lock option.

We will offer a grant equal to 1% of the loan amount. The rate for that option is 7.10%
Last Updated ( Monday, 28 July 2008 07:33 )