Utah Housing HomeRun2 and Rates

From Utah Housing:

The following Utah Housing interest rate for 1st Mortgages is effective
immediately through the next rate announcement on Friday, September 25,
2009, for all Mortgage Purchase Agreement Requests received:  

FirstHome and Equity Now  - not to exceed 5.50%

Hint of the week:  Under revised guidelines just released on Home Run
Form 161, our Approved Lender partners may now use investors authorized
to do business in Utah even when they have not signed the documents
necessary to become an Approved Lender as long as adequate documentation
can be furnished.  The new paragraph on Home Run Form 161 reads:

“If the Lender shown on the HUD 1 Settlement Statement will not be
the same as the Lender shown on the Home Run 2 Grant Commitment, UHC
must receive a written underwriting approval from the Lender that will
appear on the HUD 1 Settlement Statement that confirms the relationship
between both Lenders.”

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Utah Housing
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West Valley Cit

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