CALSTRS Loan Rates
CALSTRS HOME PURCHASE
Especially for Teachers, School Aides, Clerical Staff, Principal, Janitors, Current/Past Employees – No MI (Mortgage Insurance), No Pmts on 2nd—5yrs.
Home Ownership with 1% of Borrower's Own Funds; Up to 2% of down payment from "Gift Funds."
TODAY'S INTEREST RATE
|
| 5.50% 1st |
5.824% APR 5.50% 2nd |
(as of 05.07.10) |
Max 1st Loan:
|
$ 417,000 = 80%
|
Fully Amortized over 30 yes
|
Max 2nd Loan:
|
$ 88,612 = 17%
|
First 5 yrs – NO payments;
Years 6-25 fully amortized over 25
|
Max Pur Price:
|
$ 521,250
|
1% Own Funds = $5,212.50
2% Gift Funds = $10425.00
|
TODAY'S INTEREST RATE
|
| 6.50% 1st |
6816% APR 6.50% 2nd |
(as of 05.07.10) |
Max 1st Loan:
|
$ 536,082 = 80%
|
Fully Aamortized over 30 yes
|
Max 2nd Loan:
|
$ 113,918 = 17%
|
First 5 yrs – NO payments;
Years 6-25 fully amortized over 25 yrs
|
Max Pur Price:
|
$ 670,103
|
1% Own Funds = $6,701.03
2% Gift Funds = $13,402.06
|
“With your help and expert guidance we were able to obtain a mortgage and rate I initially thought was unattainable. I would never have been able to ask the type of questions I did with anyone else.”
Tiffany Mock-Goeman
Fresh Alliance
