refinancing: USDA Rural Development Loan News
- 12/03/11 05:12 AM
On December 1st the U.S. Department of Agriculture’s (USDA) Rural Development (RD) program reported that they are funded for FY 2012 in the amount of $24 Billion for their Single Family Housing Guaranteed Loan Program (SFHGLP). Purchase loans are available now but it will take approximately two weeks for the funds to be posted to the program for loan refinances, and in the interim they will approve ‘conditional’ commitments for loan refinancing. The FY 12 loan structure is 2 percent upfront guarantee fee for purchase transactions; 1 percent upfront guarantee fee for refinance transaction; and 0.3 percent annual fee for both … (3 comments)
refinancing: To Refinance or Not?
- 08/20/11 11:03 AM
This is easily the most frequent recent topic of conversation when I bump in to past clients, fellow Chamber of Commerce members and almost anyone that knows I’m in Real Estate. The desire to take advantage of the great (record setting) lows in mortgage interest rates is overwhelming. Of course the sticking point is the ‘lack of equity’ caused by depreciation in our local housing market. Not everyone has that problem, of course, but many do. So here are a few thoughts on refinancing. Disclaimer: I am a Realtor®, not a mortgage broker. I don’t originate loans, and this will be … (1 comments)
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Robert Smith
SRES, Search for Homes Brighton-Howell-SE Michigan
On December 1st the U.S. Department of Agriculture’s (USDA) Rural Development (RD) program reported that they are funded for FY 2012 in the amount of $24 Billion for their Single Family Housing Guaranteed Loan Program (SFHGLP). Purchase loans are available now but it will take approximately two weeks for the funds to be posted to the program for loan refinances, and in the interim they will approve ‘conditional’ commitments for loan refinancing.
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