SS Memo 09-05

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING

Date: April 14, 2009

Interest Rates

AHFC is pleased to announce that, for a limited time, reduced interest rates are available for purchase transactions under the Tax-Exempt First Time Homebuyer Program (TEP), Veteran Tax-Exempt Program (VTEP), and Veterans Mortgage Program (VMP). Interest rates will be reduced by .75% from the posted rates for the Tax-Exempt First Time Homebuyer Program (TEP), Veteran Tax-Exempt Program (VTEP), and .375% for the Veterans Mortgage Program (VMP) for both 30 and 15 year terms. The reduced rates are only applicable to purchase transactions.

AHFC will monitor loan activity closely and may adjust the rates to prolong the availability of funds for as long as possible. Regular program interest rates and applicable reductions will be posted daily on the AHFC website at https://www.ahfc.us/buy/resources/current-rates/.

This change is effective with lock-ins received on or after Wednesday, April 15, 2009. The lock-in will be issued at the posted daily rate and the reduced interest rate will be issued at loan commitment.