30-year fixed rate under 3.25%?
Well, not exactly, but CalHFA’s Mortgage Credit Certificate income increased yesterday to $57,840 for a Sacramento family of one or two people, and to $72,300 for families of three or more effective yesterday! How is this under 3.25%? Well on a $200,000 loan at 4.5%, the government actually pays $150 of the mortgage payment via a tax credit! That’s the equivalent of lowering [...]