***USDA Funding - Possible Delays after 10/1/2011 - 09/30/11 10:36 AM
USDA UPDATES
 
USDA has advise in an unofficial memo, that effective 10/1/2011, USDA will not issue “subject to conditional commitments” as they normally do every year. They have funds that will last through the end of the month, so all loans with conditional commitments by 9/30/2011 will be ok, and can fund AFTER 9/30/2011.
On October 1st, however, they will stop issuing commitments until congress approves their budget (even though it’s a self-funded program congress needs to approve) and funds are loaded into their system. USDA anticipates this could delay loans 2 weeks from getting clear commitments.  So … (2 comments)

***Changes to the VA Funding Fees - 09/12/11 05:59 PM
Some good news...  VA will be reducing the funding fees for Veterans. 
 
Changes to VA Funding Fee  
 

 
 Subsequent Use of Entitlement for all:
 
·         Loans closed from 10/01/2011 – 09/30/2012 = 2.8%
·         Loans closed from 10/01/2012 – 09/30/2013 = 2.15%
·         Loans closed on and after 10/01/2013 = 1.25%
 
  
For more information about the VA home loan or mortgage financing in general, please contact DOUG CAPPS at (662) 429-5100 ext. 105.  NMLS ID #68160.
Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage … (1 comments)