Comments for California Teachers and Employees http://www.californiateachersandemployeeshomeloanprograms.com Home Loan Programs Wed, 07 Jan 2009 05:12:31 +0000 http://wordpress.org/?v=2.6.5 Comment on CalSTRS Interest Rates and Rate Lock Guidelines by PorchLightScott http://www.californiateachersandemployeeshomeloanprograms.com/2008/05/10/calstrs-interest-rates-and-rate-lock-guidelines/#comment-191 PorchLightScott Fri, 02 Jan 2009 18:38:16 +0000 http://californiateachersandemployeeshomeloanprograms.wordpress.com/?p=11#comment-191 Hi Christine, Unfortunately CalSTRS is very strict about the structure of the 80/17 and do not allow for larger down payments to reduce the loan amounts. The interest rates on the non-conforming are still extremely low, that's the good news. The conforming rates are very, very attractive though. Also, keep in mind that the $417,000 is only the first loan amount - which limits your purchase price to $521,250. As long as your purchase price does not exceed this amount, you are eligible for the conforming rate. Hope this helps! If you have further questions, give us a call at 866-667-6724 Hi Christine,

Unfortunately CalSTRS is very strict about the structure of the 80/17 and do not allow for larger down payments to reduce the loan amounts.

The interest rates on the non-conforming are still extremely low, that’s the good news. The conforming rates are very, very attractive though.

Also, keep in mind that the $417,000 is only the first loan amount - which limits your purchase price to $521,250. As long as your purchase price does not exceed this amount, you are eligible for the conforming rate.

Hope this helps! If you have further questions, give us a call at 866-667-6724

]]> Comment on CalSTRS Interest Rates and Rate Lock Guidelines by Christine http://www.californiateachersandemployeeshomeloanprograms.com/2008/05/10/calstrs-interest-rates-and-rate-lock-guidelines/#comment-190 Christine Mon, 29 Dec 2008 23:23:23 +0000 http://californiateachersandemployeeshomeloanprograms.wordpress.com/?p=11#comment-190 I have a question about the 80/17 program. In order to get the lower conforming loan interest rate, is it possible to pay more for a house upfront in order to get the loan amount below $417,000? Any help with this is appreciated! THanks. I have a question about the 80/17 program. In order to get the lower conforming loan interest rate, is it possible to pay more for a house upfront in order to get the loan amount below $417,000? Any help with this is appreciated! THanks.

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