Nevada City Virtual Tour

Tuesday, March 15, 2011

Zero Down Loans USDA more fees coming

USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011

What Does This Mean To You?

USDA and its loan program was designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.

But a change is coming!

Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan.

If you're thinking of purchasing a home and you're wondering if you may qualify for a USDA loan, give me a call right away. Home loan rates are still very attractive. Let's see if this program is right for you...before the October 1 fee begins.

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