Yesterday was a historic day in the United States. The election of Barack Obama as the 44th President will be remembered as one of our nation’s most momentous days – or will it be his actual inauguration? Congratulations to Senator Obama and Senator McCain for their willingness to serve this country in such a noble way.
A mortgage lender sent new rate information in an email:
CONVENTIONAL
5.75% 1.5 PTS*
6.00% -0- PTS*
15 YR FIXED
5.375% 1.5 PTS*
5.875% -0- PTS*
* For loan amounts above $250,000 (That’s some significant small print, there!)
She also said there’s more great news.
RD INCOME LIMITS PROPOSED CHANGE!
It is anticipated that, effective January 2009, Rural Development will simplify their income limits to only two levels:
1-4 person household (currently $72,650 in Nashville MSA counties)
5-8 person household (currently $95,900 in Nashville MSA counties)
This means that a 1 to 3 person household will be able to earn that of a 4-person household, and 5 to 7 person household may earn that of an 8 person household. This is great news for smaller families who currently make too much to qualify for Rural Housing!
That’s my update for today. I’m blurry eyed from staying up half the night watching election returns.
