In September, October time frame the USDA program up front fee will decrease however there is a new fee that will be tacked on that they are saying will be similar to Mortgage Insurance, while we have enjoyed the RD program being a 100% loan without mortgage insurance for sometime, this is more than likely being done rather than having the program disappear altogether.
IF you are looking at getting a RD loan talk to your local bank about the upcoming changes, it may pay off making that decision today rather than waiting down the road.
We provide solutions to banks for those banks in Oklahoma that do not currently offer the USDA loan product we can assist in USDA, FHA, VA and conventional underwriting, processing, and funding and closing services to local community banks.
Account Executive ~ Oklahoma
Mortgage Investment Services Corporation
NMLSR Identifier #194708
25055 W Valley Pkwy, Ste 108
Olathe, KS 66061
913-390-1010 x 1035