rural development: USDA Will Have Monthly Mortgage Insurance starting October 1, 2011 - 05/17/11 03:52 AM
USDA Will Have Monthly Mortgage Insurance
USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.But a change is coming!Beginning October 1, 2011,¬†for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan. If you're thinking of purchasing … (4 comments)

 
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