Jan 7th 2008 market update

30 year fixed rate 4.625%
( 4.938% APR )

30 year fixed FHA rate: 4.75%
( 5.063% APR )

Jumbo rate: 6%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(6.154% APR)

Today's News:

1. Fannie Mae will offer 3-year Benchmark Notes with the issue size to be determined, the mortgage giant said Wednesday. The issue will price on Thursday with settlement scheduled for Friday.

2. ADP shows 693,000 jobs lost in December
Private-sector payrolls drop adds to signficance of Friday employment report.


22 ways to come up with down payment on FHA loans:


1. Escrow deposit
2. Savings Account
3. Checking account
4. Gift Funds
5. Collateralized Loan
6. Sale Proceeds
7. Trade Equity
8. Sale of Personal Property
9. Employers Guarantee Plan
10. Employer assistance Program
11. Savings Bond
12. IRA
13. Thrift Savings Plan
14. 401k
15. Keogh Accounts
16. stocks
17. Bonds
18. Cash at Home
19. Rent Credit
20. Commission from Sale
21. Disaster Relief Grants and Loans
22. Cash Accumulated with a savings club