WHEDA Home News - July 2007

Home Plus Loan

Effective August 15, 2007, Home Plus loans must be underwritten using the fully amortized payment based on the note amount for the remaining 13 year term.

For example, if the Home Plus note is executed for $10,000, the monthly payment that should be included in the borrower's total debt-to-income ratio would be $103.31.

Rural Initiative Down Payment Assistance

Rural lenders, with your help, WHEDA® has met its commitment to provide down payment assistance to 25 families whose income was greater than 60% of the County Median Income (CMI).

We continue to need your support and commitment to help 11 families, whose income falls below 60% of CMI, fulfill their dream of Home ownership.

If you have any questions regarding any of this information, please contact Pat Multerer at 1-800-334-6873 or via e-mail at pat.multerer@wheda.com.