MORTGAGE CENTRAL

Interest Rates for the Georgia Dream Program

Effective 5:00 PM

Thursday, October 29, 2009

Georgia Dream First Mortgage

FHA/VA/RD

5.625%

Conventional Uninsured Loans

5.625%

Georgia Dream First Mortgage with a Georgia Dream"Plus" Down Payment Assistance Loan

FHA/VA/RD

5.875%

The Department of Housing and Urban Development announced today that struggling borrowers with FHA loans may now be eligible for assistance via the Making Home Affordable program.

The new “FHA-Home Affordable Modification Program” aims to make monthly mortgage payments more affordable through the use of a partial claim, which defers the repayment of mortgage principal through an interest-only subordinated lien.

                 CLAYTON HOMEBUYER ASSISTANCE PROGRAM

OVERVIEW

First-Time Homebuyers may receive a deferred payment, zero interest loan (soft second mortgage) for down payment, closing costs and/or prepaid items...

   GEORGIA DREAM NSP ASSISTANCE

The GA Dream NSP Purchase Program must be used with a fixed rate FHA or VA  mortgage; cannot be conventional financing.  NSP Funds may be used for rehabilitation and down payment assistance.

The loan amount is $14,000 and will be a second mortgage lien closed with a DCA approved Lender's first mortgage.  The interest rate for the Georgia Dream NSP Loan is 0% per ann...