USDA/Rural implemented their New 2015 USDA/Rural Loan Level Price Adjusters on June 25, 2015. Just like Fannie Mae has Loan Level Price Adjusters (LLPA), so does USDA/Rural. The difference is Fannie Mae bases their Loan Level Price Adjusters on credit scores and down payment (Loan-To-Value), USDA/Rural only bases their LLPA's on credit scores since USDA/Rural does not require a down payment. So unlike the Fannie Mae Loan Level Price Adjusters (LLPA) chart which is extensive, the USDA/Rural chart is very short.
Below is the USDA/Rural Loan Level Price Adjusters (LLPA) chart showing what the LLPA's were prior to the change on June 25, 2015 and the new LLPA's.
However, even closing costs can be finance through a Closing Costs Assistance Loan (DAP) when the USDA/Rural Mortgage Program is combined with a Connecticut Housing Finance Authority (CHFA) Mortgage Program or with another Stated Bonded Mortgage Program. USDA/Rural also allows Sellers to contribute up to 4% of the selling price to the Borrower's closing costs. With either of these options a Borrower can purchase a home with a USDA/Rural Mortgage program with little or no money out of pocket.
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