USDA Has Funds Available For Home Financing

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USDA Has Funds Available For Home Financing

USDA Has Funds Available For Home Financing

Effective 06/1/2010

Effective June 1, 2010, USDA Home Loan financing is available to homebuyers. However there are some major changes to the program.

First: The USDA Funding Fee is no longer 2.00% (two percent)

Second: The "NEW" USDA Funding Fee is 3.50% (three and a half percent)

Third: The GUS System (Guarantee Underwriting System) is currently turned off. This means that the homebuyer's qualification will be strictly adhered to the USDA Guidelines.

**With GUS; the homebuyer can potentially qualify for a higher sales price

If you have any questions, please call us at 480.344.3671

Academy Mortgage - Mesa, AZ

Ted Canto, Mortgage Consultant

www.academymortgage.com/tedcanto

www.tedcanto.com

www.tendayclose.com

www.arizonamortgageteam.com

Posted by TED CANTO- Arizona's #1 Mortgage Lender on 06/01/2010 08:54 PM

Comments (2)

USDA Now Has Funds; Effective 6/01/10 in the ActiveRain Channel

usda, usda home loans, usda loan, usda rural development, usda funds depleted, usda available funds, ten day close, academy mortgage, fha

Originally posted at: : USDA Has Funds Available For Home Financing

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2 Comments on USDA Has Funds Available For Home Financing

JUN

2010

Ted....That's a big jump in the funding fee! I guess they have money, so they can charge for it! I'll be interested to see how many people use this program.

cosmic cow

it is but with the tax credit gone and people still looking for ways to hold onto their cash, they will still take the program

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TED CANTO- Arizona's #1 Mortgage Lender

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