zero down mortgage: USDA Loan Program Fees Drop on Oct. 1, 2016
- 09/25/16 05:18 AM
Effective October 1, 2016, (the start of fiscal year 2017), program fees for the USDA's Rural Development guaranteed home loan program will be significantly reduced. The USDA loan will become more affordable. The up-front guarantee fee will change from 2.75 percent to 1 percent of the loan amount. The annual fee will change from .50 percent to .35 percent of the average scheduled unpaid principal balance for the life of the loan. This program helps approved lenders work with low- and moderate-income families living in rural areas to make homeownership a reality. It provides the opportunity for these families to own adequate, modest, decent, … (16 comments)
Effective October 1, 2016, (the start of fiscal year 2017), program fees for the USDA's Rural Development guaranteed home loan program will be significantly reduced.
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