I'm excited to announce another home buyer seminar this Saturday, July 14th from 10am-3pm, at the Transnation Title and Escrow offices in Tukwila, Washington. Geared towards qualifying buyers for the House Key State Bond Program, attendees receive a certificate allowing their lender to reserve below-market mortgage funds subsidized from the sale of municipal bonds.
Currently, the House Key rates are 5.75% for the 30yr mortgage. The rate is fixed, with no pre-payment penalty. With conventional mortgage rates at an average of 6.625%, using the House Key loan is a significant savings especially when you consider that 2nd mortgage rates are close to 10%. This makes the blended rate close to 7.5% using traditional financing, making the House Key program a huge overall savings depending on the loan amount. 5.75% vs. 7.5%?--it's a no-brainer. Funds are limited and the stated interest rate doesn't fluctuate during the availability period.
Classes are sponsored by the Washington State Housing Finance Commission and advertised locally in the Seattle Times. See you there.
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