USDA & FHA Mortgage Source

Follow me
By
Mortgage and Lending - USDA / FHA Mortgage Source
Serving all 50 states nationally - 100 percent USDA Rural Housing Home Loans. Rural Development mortgage. Serving First Time Buyers and existing homeowners throughout the US

ARCHIVED BLOG POSTS

2011 

So what is the story regarding the appraisal process and USDA loans?  USDA loans are not required to go through all the new HVCC appraisal policy as Conventional / FHA loans today. There is no requirement that the appraisal has to be done by a independent third party appraisal management company ...
02/28/2011
Many assume that swimming pools are not permitted under the USDA 502 guarantee program. Even more buyers/agents may not even be aware that pools can be an issue at all, here is some clarification -  First, pools are not a problem with USDA, the problem can be the appraised value of the home. What...
02/26/2011
Since 2008 most 100% financing mortgage programs here in Florida have all but been eliminated. USDA is the only remaining 100% home loan for civilians. USDA does have two different programs - the " USDA Direct" and "USDA Guaranteed" program. So what is the difference between the two, and what opt...
02/26/2011
We have been receiving many questions lately regarding the USDA / Rural Development closing times. We have some past blog posts that talk about the USDA closing times as well. In short, yes the USDA home loan closing process typically takes on average 5-10 days longer when compared to other loans...
02/26/2011
Now is the time to discover the benefits of a 100% USDA home mortgage!  100% mortgage financing is hard to find these days, especially in Florida. USDA is one of the only options left. Many people are unaware of the many benefits of the USDA Government backed mortgage.  USDA home loans are offere...
02/26/2011
It's almost impossible to change your score in the time between when most people decide to buy a home and when they apply for a mortgage. So the short answer is, you really can't "on the spot." But there are strategies you can live with to make sure when you apply for a loan your score is as high...
02/26/2011
Key differences listed below - FHA-  Property can be located anywhere, no income restrictions like with USDA / Rural Development. However, FHA requires a minimum of 3.5% down payment.  This does not include any closing costs that can range from 3-6 % of your purchase price.  FHA will only lend to...
02/26/2011
With USDA / Rural Development home loan eligibility there are a few main factors - household income and the property location.  Each county in Florida has different household income restrictions. The USDA income limits are based on many factors like -  number of dependants, disabilities, elderly,...
02/26/2011
Just a reminder, the USDA / Rural Development program is funding as normal in 2011 with no funding delays.  The current USDA one-time funding fee is 3.5% that is rolled into the loan. The new funding fee will allow USDA/RD funding to continue WITHOUT the interruptions experienced in the past.  If...
02/26/2011
The Federal Housing Administration announced that it will be increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed starting April 18th The insurance increase is in response to a congressional mandate that gave the FHA permission to i...
02/26/2011
Rainer
106,891

Jeff W

USDA /FHA Mortgage Source
Ask me a question
*
*
*
*

Additional Information