firsttime home buyers: USDA Loan Program Changes Effective October 1, 2016
- 09/30/16 01:53 AM
Good news for home buyers interested in the USDA home loan program! Effective tomorrow (October 1, 2016), the USDA program fees for USDA Rural Development’s Guaranteed Home Loan program are changing. The change has resulted in a significant reduction in both the “upfront guarantee fee” and the “annual fee”. These changes will make the USDA home loan option one of the most affordable home loan products on market. The Upfront Guarantee Fee is being reduced from 2.75% to 1.0% of the loan amount. This fee is typically added to the loan balance, unless the buyer opts to pay it at closing. The … (1 comments)
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