I am re-blogging this information from John Cannata a loan officer in Frisco Texas because Rural Development Loans are also very popular in Lake Charles, LA.
The change John refers to that is coming October 1 will be an annual fee USDA charges based on the loan amount. 100% Rural Development finanacing is a great option for many Lake Charles buyers searching for homes in Southwest Louisiana. Craig Boudreaux of Louisiana Mortgage Associates in Lake Charles can give you information on eligible areas, in Lake Charles, Moss Bluff, Westlake, Carlyss and Iowa, LA.
There are alot of properties listed that qualify for Rural Development Financing, please visit my website www.marilynboudreaux.com for more information I look forward to assisting you!
USDA Will Have Monthly Mortgage Insurance
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, 2011, 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.
Are you looking to purchase a home in Texas? Perhaps you love your home in Texas but would be interested in refinancing your mortgage to a lower interest rate?
I'll help you get pre-approved for your a new home loan in Texas and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice. If you are available to talk, I am available to listen. Give me a call or visit my website for more details.
Do you want to know all of your mortgage options? Call me today and let's discuss them further.
Always available for your Texas Mortgage / Home Loan needs!
John R Cannata P#214.728.0449
NMLS # 322646
The views expressed on this site are mine alone and do not reflect the views of my employer.