| Money available for first-time homebuyers
First-time homebuyers and qualifying veterans again have some help in achieving the American dream with the help of the Nevada Rural Housing Authority.
For the second time, the housing authority is offering down payment assistance and low-interest mortgages for qualifying first-time homebuyers and veterans.
"It truly is a grant," said Gary Longaker, executive director of NRHA. "You don't have to pay it back."
Borrowers are considered first-time homebuyers if they haven't owned a home in the past three years. Income requirements for Churchill County buyers are a maximum of $60,300 for a family of two or fewer or $69,345 for a family of three or more. The maximum value of a home in Churchill County eligible for the program is $237,031.
A press release from NRHA states President Bush signed legislation last year waiving the first-time home buying provision for veterans, allowing any veterans meeting income guidelines to become eligible.
Fitch Rates CSMC's $641MM Mtge PT Certificates, Series 2007-3
NEW YORK--(BUSINESS WIRE)--Fitch rates Credit Suisse Mortgage Securities Corp. mortgage pass-through certificates, series 2007-3 groups 2-4 as follows: --$626.28 million classes 2-A-1 to 2-A-19, 3-A-1 to 3-A-4, 4-A-1 to 4-A-15, A-P, A-X, AR, and AR-L (senior certificates) 'AAA'; --$9.307 million class C-B-1 certificates 'AA'; --$2.246 million class C-B-2 certificates 'A'; --$1.283 million class C-B-3 certificates 'BBB'; --$1.283 million class C-B-4 non-offered certificates 'BB'; --$0.642 million class C-B-5 non-offered certificates 'B'. The 'AAA' rating on the senior certificates reflect the 2.40% subordination provided by the 1.45% class C-B-1, 0.35% class C-B-2, 0.20% class C-B-3, 0.20% class C-B-4, 0.10% class C-B-5, and 0.10% class C-B-6 (not rated by Fitch).
Mortgage rates creep up this week
WASHINGTON - Mortgage rates around the country crept up this week, although rates on 30-year mortgages still hovered close to their low for the year. That was up slightly from 6.16 percent last week. Even with the uptick, it was near the low for this year of 6.14 percent, set during the first two weeks of March. "Mortgage rates have remained within a narrow band of 0.1 percentage points over every week in March," said Frank Nothaft, Freddie Mac‘s chief economist. "This relative stability is due to mixed economic data releases as to how strong the economy is and whether future inflation will recede," he explained. Five-year adjustable rate mortgages averaged 5.92 percent, compared with 5.88 percent last week. One-year adjustable mortgages edged up to 5.44 percent this week from, 5.43 percent last week.
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