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Upcoming changes on USDA Loans!

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Mortgage and Lending with Aliso Niguel Mortgage - a division of Magellan Capital Group
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Bryan Wilson
President
Magellan Capital Group / Aliso Niguel Mortgage
Phone: (949) 533-9333
Fax: 949-215-1753
bwilson@magcapitalgroup.com
 

USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011
What Does This Mean To You?

USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.

But a change is coming!

Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan.

If you're thinking of purchasing a home and you're wondering if you may qualify for a USDA loan, give me a call right away. Home loan rates are still very attractive. Let's see if this program is right for you...before the October 1 fee begins.

Sincerely,

Bryan Wilson
Magellan Capital Group / Aliso Niguel Mortgage

bwilson@magcapitalgroup.com
Posted by

Bryan Parks Wilson

Aliso Niguel Mortgage

C 949-533-9333  F 949-215-1753

www. alisoniguelmortgage.com

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J Perrin Cornell
Coldwell Banker Cascade Real Estate - Wenatchee, WA
Broker, ABR, VAMRES

I understand they are also now paying more attention to credit score...

Mar 15, 2011 10:11 AM
Bryan Wilson
Aliso Niguel Mortgage - a division of Magellan Capital Group - Aliso Viejo, CA
Refinance & Home Purchase - Conforming and Jumbo Loans - FHA and VA.

I heard a minimum of 620 or something  like that.

Mar 15, 2011 10:38 AM
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Rainer
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Bryan Wilson

Refinance & Home Purchase - Conforming and Jumbo Loans - FHA and VA.
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