SS Memo 11-09
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
Date: July 14, 2011
Streamline Refinance Interest Rates
AHFC is pleased to announce effective July 15, 2011, the percentage added to the Tax-Exempt First Time Homebuyer Program (TEP), Veteran Tax-Exempt Program (VTEP), and Veterans Mortgage Program (VMP) interest rates for a streamline refinance has been reduced from .50% to .25%.
As previously announced in Memo 09-09, rates published on AHFC's internet website for TEP, VTEP, and VMP programs reflect rates for purchase transactions only. However, streamline refinance transactions under the TEP, VTEP, and VMP receive the published rate plus .25%.
Lenders are reminded the Taxable Program may be used to streamline refinance a TEP, VTEP, or VMP loan when the Taxable rate is lower than the published TEP, VTEP, and VMP rates plus the .25%.