MHDC’s Cash Assistance Loan; St. Louis Mortgage Rate Update

Paramount Mortgage Company - St Louis

First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.

The Missouri Housing Development Commission (MHDC) provides a competitive interest rate on a safe 30-year fixed rate 1st mortgage. Your 3% advance loan is treated as a 2nd mortgage completely forgivable after five years of continuous occupancy. New, Constant Funding means MHDC will have the monies available for the borrowers regardless of bond issuance.

For more information about this program, go to http://www.box.net/shared/s2x9zriz1g or www.MHDC.com .St. Louis Mortgage Interest Rates – December 23,  2010

  • 30-year fixed-rate  4.750% no points
  • 15-year fixed-rate  4.250% no points
  • 5/1 adjustable rate 3.50% no points
  • FHA/VA 30-year fixed rate  4.625% no points
  • Jumbo 5/1 ARM 3.500% no points
  • Jumbo 15 year fixed-rate  4.625% no points
  • Jumbo 30 year fixed-rate  5.875% no points

For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.

 

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