Effective immediately, USDA Rural Housing approved lenders all over the country are now resuming their USDA programs. 

The new guarantee fee for USDA Rural Housing purchase transactions has now been raised from 3% to 3.5%.  Furthermore, many lenders may now require that loan documents must have a first payment date of October 1, 2010 in order to fund.  Check with your approved USDA Rural Housing lender and/or MLO for more details. 

There is a chance that the actual guarantee fee will be lower than 3.5%. If that occurs, the borrower will receive a principal reduction in the amount of the difference.  Once again, check with your USDA Rural Housing approved lender and/or MLO for more details.

This is a good thing!  

 Shawn Olson Gateway Funding Diversified Mortgage

651-230-1313