Real estate blog entries tagged with zero down by Jerry Wright MLO 181458 (Absolute Mortgage)

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Home : Blogs : Jerry Wright MLO 181458 : Jerry Wright MLO 181458's Blog : Tag "zero down"

zero down: USDA is adding Monthly MI - 09/01/11 04:48 PM

In a surprising announcement, the USDA Guaranteed Rural Development Home Loan Program announced starting October 1st, 2011, they will begin collecting (charging) monthly mortgage insurance of .3%, but their up front mortgage insurance will be reduced from 3.5% to 2%.
If you are unfamiliar with the no down payment 100% financing USDA Guaranteed home Loan, please give me a call.
Why is the USDA now charging monthly mortgage insurance? Due to some upcoming nationwide changes to make mortgage lenders more accountable to the loans they approve, USDA implemented this in order to prevent the American tax payer from subsidizing the … (4 comments)

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Jerry Wright MLO 181458

Marysville, WA

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Absolute Mortgage

Address: 3503 188th ST SW, Lynnwood , WA, 98036

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