NOTICE OF MORTGAGE RATE CHANGE

The Nevada Housing Division hereby notifies all interested parties that effective 8:00 a.m. Pacific Standard Time, on September 29, 2008.  All loan reservations being made after that time will be at the following rate: 7.25% for 30 year all types of loans. This new restriction relates to mortgage funds available in the following bond issues:  2008C.  This rate will remain in effect until superseded by another later dated notice.

The LOAN LIMIT of $10,000 for any Housing Division Down-Payment and Closing Cost Assistance Loan remains in effect.  The revised mortgage rates for the NHD down-payment and closing cost loans will be 9.25% on a NHD 2nd associated with a 30-year 1st mortgage.

Additionally, any Teachers' First® Program approved applicant for a 30-year loan will be at a rate of 6.05%.  The Teachers' First® Program 'draw-down loans' will be at 8.05%.