USDA changes coming October 1st 2011.
USDA Rural Development home loans 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 no down payment required. This is the last of the no money down loans unless you are a veteran.
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 at 503-313-9072 or email me at Kevin.Kenagy@ImpacCompanies.com. Home loan rates are still very attractive. Let’s see if this program is right for you…before the October 1 fee begins.
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