Real estate blog entries tagged with finance closing cost by Sue Botelho-USDA Rural Housing Mortgage Pro (Waterstone Mortgage Corporation)

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Home : Blogs : Sue Botelho-USDA Rural Housing Mortgage Pro : Sue's Blog : Tag "finance closing cost"

finance closing cost: USDA Does NOT Lend Money - So How Can They Be Out??? - 01/25/09 08:52 AM

It is amazing to me to see how many phone calls we are getting from around the country asking how we can still do USDA Rural Housing loans since they are "out of money"! It is a misconception that the USDA lends money - they don't! Their role in the USDA Rural Housing Loan is to guarantee (insure) the loan against default. That is why the have the 2% funding fee as opposed to monthly mortgage insurance.
Currently, they have used the entire appropriation that was given to them by Congress for FY2009; however, they are still issuing conditional guarantees that … (9 comments)

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Sue Botelho-USDA Rural Housing Mortgage Pro

Fort Walton Beach, FL

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Waterstone Mortgage Corporation

Address: 2 Park Circle, Suite A, Ft. Walton Beach, FL, 32548

Office Phone: (850) 362-6901 x 2

Cell Phone: (850) 797-7946

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