Great Loans Still Available Through Countrywide

(from an email received this morning)

97% loans up to $729,750 *

• FHA loans with as little down as 3% from buyers
• Government mortgage insurance required at a cost of 1.75% of the loan amount
• Seller can credit up to 6% of the sales price to cover buyers closing costs including points
• Rates currently at 6.625% 2 point cost to buyer

* must fund by December 10th 2008 because stimulus package is expiring December 30th

 90% loans up to $417,000 with NO Private Mortgage Insurance

• Conventional loans with 10% down from buyers
• This mortgage is lender insured. Mortgage insurance cost is absorbed by the bank
• Seller can credit up to 6% of the sales price to cover buyers closing costs including points
• Rates currently at 6.875% 1 point cost to buyer

 85% loans up to $729,750 *

• Conventional agency loans with 15% down from buyers
• Mortgage insurance required for loans over 80%
• Seller can credit up to 6% of the sales price to cover buyers closing costs including points
• Rates currently at 6.375% 1 point cost to the buyer.

*This is a stimulus package loan and must fund by December 10th 2008

80% loans up to $1,000,000

• Conventional Jumbo loans for purchase transactions
• Seller can credit up to 6% for closing costs including points
• Rates currently at 7.5% at 1 point cost to buyer
• Rates drop to 7.25% at 1 point with 25% down payment
• Rates drop to 7.0% at 1 point with 30% down payment

70% loans up to $1,500.000

• Conventional Jumbo loans for purchase transactions
• Seller can credit up to 6% for closing costs including points
• Rates currently at 7% at 1 point