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� <br /> Assist 2009 Homebuyer Assistance I� <br /> Affordable home ownership for families Page 2 <br /> Qualifvinct Homebuvers <br /> • First time home buyers (not owned residence in three years) <br /> • Will occupy the home as their residence <br /> • Meet income guidelines <br /> • Meet purchase price guidelines <br /> Advantaqes <br /> • Provides additional home ownership opportunities in each Community <br /> • Home ownership provides added stability in a community <br /> • Serves the 40% of potential home buyers who qualify for loans but lack funds <br /> • Strategic alliance with lenders throughout the state <br /> • Customized marketing in each municipality <br /> • No out-of-pocket expense to any community to participate <br /> Families Qualifying for Loans <br /> Have Down <br /> No Down Payment <br /> Payment <br /> Program Details <br /> Total Home Buyer Assistance: 4.25% <br /> Closing Costs and Down Payment: 3.00% <br /> Origination Fee: 1.25% <br /> Anticipated Mortgage Rate: 6.50% FHANA & conventional <br /> Lending Period: January 1, 2009 through <br /> December 31, 2009 <br /> Master Servicer: National City Mortgage Service Co. <br /> Bond Counsel: Chapman & Cutler <br /> Stern Brothers & Co. <br />