WHEDA Home News - September 2008

Rate Reduction Option

Effective immediately, we are reinstating the Rate Reduction Option. This option grants the ability to re-lock at a lower interest rate within 30 days of the original rate lock. This option may only be used once after the original rate lock and cannot be lower than the interest rate posted for that day. The following fees apply and will be collected at the time of loan funding:

Rate Reduction	Fee
0.25%	$500
0.40%	$800

Contact a Program Specialist at 800-334-6873 to use the Rate Reduction Option. The Home Origination Guide will be updated in the near future to reflect this option.

Daily Loan Pricing

Effective Thursday, September 18, WHEDA® will begin daily loan pricing. The WHEDA rate effective for a given day will be posted on this website before 8 AM. We will continue to send the rate e-mail only on days that the interest rate changes. Once posted, WHEDA's Home Program interest rate will remain effective for the remainder of that day.

If you have any questions regarding the information in this e-mail, please contact us at 1-800-334-6873 or via e-mail at info@wheda.com.