USDA Has Funds Available For Home Financing

By
Mortgage and Lending with Amerifirst Financial, Inc

USDA Has Funds Available For Home Financing 

Effective 06/1/2010

Effective June 1, 2010, USDA Home Loan financing is available to homebuyers.  However there are some major changes to the program.

First: The USDA Funding Fee is no longer 2.00% (two percent)

Second: The "NEW" USDA Funding Fee is 3.50% (three and a half percent)

Third: The GUS System (Guarantee Underwriting System) is currently turned off.  This means that the homebuyer's qualification will be strictly adhered to the USDA Guidelines.

**With GUS; the homebuyer can potentially qualify for a higher sales price

If you have any questions, please call us at 480.344.3671

Academy Mortgage - Mesa, AZ

Ted Canto, Mortgage Consultant

www.academymortgage.com/tedcanto

www.tedcanto.com

www.tendayclose.com

www.arizonamortgageteam.com

 

 

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Rainmaker
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Carra & Shae Riley
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Ted....That's a big jump in the funding fee!  I guess they have money, so they can charge for it!  I'll be interested to see how many people use this program.

cosmic cow

Jun 02, 2010 05:07 AM #1
Rainmaker
67,614
Ted Canto
Amerifirst Financial, Inc - Phoenix, AZ
Arizonan #1 Mortgage Lender

it is  but with  the tax credit gone and  people still looking for ways to hold onto their cash, they will still take the program

Jun 02, 2010 05:15 AM #2
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Rainmaker
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Ted Canto

Arizonan #1 Mortgage Lender
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