Lower Mortgage Rate Available for Nevada's First-Time Homebuyers

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Updated: 12/02/2011 5:45 pm
CARSON CITY, Nev. (KRNV & MyNews4.com) - The Nevada Housing Division today announced a new low mortgage rate for Nevada’s first-time homebuyers. The Division is offering a dramatically low mortgage 3.50% interest rate for a 30-year fixed rate loan to qualified buyers. This new 3.50% mortgage rate became effective on December 1, 2011 with a guarantee by the Housing Division that this rate will be available through June 30, 2012. There will be a total of $69 million in lendable proceeds available for FHA or VA qualified first-time home buying borrowers. NHD’s Down Payment Assistance Program assistance will remain at the loan limit of $4,500.

“We are delighted to offer this exceptionally low rate to first-time homebuyers. Combining this
3.50% rate with the Division’s Down Payment Assistance Program will allow many of our state’s
middle-income families – who have been struggling to stretch every dollar – to now achieve the
dream of homeownership,” said Charles L. Horsey, Administrator of the Nevada Housing
e Homebuyer Program’. Or, call the Division directly
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ivorymiller - 12/2/2011 10:38 PM
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Despite low mortgage rates, refinancing activity has been slow and experts believe consumers seem to be ignoring rate reductions because they don’t feel like they’ll qualify for good deals, for them a place to check is 123 Refinance online

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