Great News! This is a fabulous program and has helped 1000's of Buyers purchase their dream home!
Via
Shawn Olson (Gateway Funding Diversified Mortgage Services):
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
>
Looking forward to working with you!
-Karin :)
www.PropertyPromenade.com
Your Source for Slidell and New Orleans, La. Real Estate
PropertyPromenade.com is a courtesy of Karin Smith - Listing Agent / Selling Agent
Karin Smith - Broker
Licensed in Louisiana
Smith Realty Group
1290 Seventh Street, Suite 6
Slidell, La. 70458
USA
Cell: 985-707-7624
Office: 985-646-0025
Email:ksmith.realestate@gmail.com
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We agree Karin - this USDA loan is a vital program for rural areas in NW Indiana! We also are glad to see this type of loan funded again!
sincerely,
grace