If your borrower has a property in a Low/Moderate Income Census tract, they are eligible for 1 point off the Rate! This special would allow for a 95% LTV deal with no mortgage insurance @ 4.5%. APR 4.789@ This special applies to the following counties in the designated tracts.
Note, the special of 1 point off the rate ONLY applies to the qualified census tracts in the below counties and does not apply to the income limits.
· Los Angeles
· Orange
· San Francisco
· Alameda
· Marin
· Contra Costa
· San Mateo
· Santa Barbara
Link to determine census tract eligibility http://www.ffiec.gov/geocode/default.aspx.
Please contact me with any questions. Thank you!
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