usda mortgage fees going up: USDA Rural Mortgage Fee's Going Up
- 06/25/15 05:59 AM
USDA RD came out today with the new upfront guarantee fee and annual fee structure that will be effective for Single Family Housing Guaranteed Loan Program (SFHGLP) loans in fiscal year of 2016. Their new fiscal year for 2016 begins October 1, 2015 and the new upfront guarantee fee will change from 2 percent of the loan amount to 2.75 percent of the loan amount. The annual fee (or monthly PMI) of .50% will remain unchanged. The upfront guarantee fee is a one-time fee that is charged by all the popular government mortgage programs like USDA, FHA and VA. The one time fee is commonly … (0 comments)
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