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Just as banks begin to unveil their plans for implementing terms of the Economic Stimulus Package (with some banks anticipating changes as early as mid-March), we hear that this Spring could bring more good news for those seeking a subprime mortgage.

According to CNN.com, Congress is expected to pass a bill by mid-April that would expand the reach of the FHA. Highlights of the bill include making the temporary loan limit increases permanent, as well as reducing down payment requirements to as low as 0%.

Over in the multifamily sector, interest rates have remained fairly stable. I have had a lot of inquiries recently regarding long-term fixed loans. Currently we have access to 7- and 10-year fixed programs as low as 6.15%, with the option of up to 80% loan to value.

Author
~Sam Nelson, Venture West Funding: Website

This entry was posted on Tuesday, March 11th, 2008 at 10:25 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.