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Is Fannie Mae Helping the USDA Loan look cheaper?
Fannie Mae Is Making Our USDA Loan Program Much Cheaper I’ve been helping people for years to get the cheapest, easiest loan possible to buy a home in Arizona with the USDA Loan Program. Now, in a recent article in USA Today it is reported that Fannie Mae and Freddie Mac are raising their loan costs to home buyers. This will make the USDA Loan Program even cheaper than it is now. Fannie and Freddie fund home loans that are known as Conventional loans and have been the largest supply of home loans forever.
While the USDA Loan Program has limits on the fees that can be charged, Fannie and Freddie are introducing new fees to be charged to consumers based on your credit score and how much you are putting down.
If you plan to put more than 25% down and have a credit score higher than 720, you won’t notice a difference in the new Fannie and Freddie price hikes. Everyone else will see a substantial price increase, only if you apply for conventional financing.
The Fannie Mae & Freddie Mac price increases go into effect on April 1, 2011.
Just to give you an idea, for someone buying ... more
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