USDA Loan Program Fees Drop on Oct. 1, 2016

By
Mortgage and Lending with Veterans United Home Loans of Puget Sound NMLS 120968

Effective October 1, 2016, (the start of fiscal year 2017), program fees for the USDA's Rural Development guaranteed home loan program will be significantly reduced.

The USDA loan will become more affordable. The up-front guarantee fee will change from 2.75 percent to 1 percent of the loan amount. The annual fee will change from .50 percent to .35 percent of the average scheduled unpaid principal balance for the life of the loan. 

This program helps approved lenders work with low- and moderate-income families living in rural areas to make homeownership a reality. It provides the opportunity for these families to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas.

Providing affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas.

Want to learn more about the USDA Loan? Have a question about your eligibility? Talk to an expert today. Contact Trish Cole, NMLS 120968, Loan Officer at Veterans United Home Loans of Puget Sound.  

 

10514 156th Ave E Suite 104 Puyalup WA  98374. (253) 617-6200. Veterans United Home Loans is a VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency. NMLS # 1907 (nmlsconsumeraccess.org). License # CL-1907. An Equal Opportunity Lender.

Comments (12)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I for one not thrilled with this program.  I went on several markets this month where the owners are struggling.  They are looking to get out.  They had -0- skin in the game and bought more house that they should have.

 

We have learned NOTHING

Sep 25, 2016 06:05 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

 Trish Cole The zero down USDA loan can benefit many home buyers.

Sep 25, 2016 06:52 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Best wishes to you and your family for a wonderful Thanksgiving.

Nov 28, 2019 05:41 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Trish, living and working in the City, I have never had a USDA loan yet.   But, know they are available when I have rural buyers.

Jul 07, 2020 09:12 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I was looking for your current posts.

I hope all is going well for you.

Take care and be safe.

Dec 13, 2020 01:02 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for your comment on my recent post.

Take care, be safe and have a productive spring.

May 21, 2021 10:28 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Thank you for stopping by my post and commenting Trish, hope all is well and you get back to posting!

Jun 02, 2021 08:15 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Hi Trish, thought I had seen some current posts from you, but looks like you have taken a break.  Thank you for stopping by my post today.

Aug 04, 2021 02:11 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for following my blog. Your comments are always welcome.

Aug 13, 2021 09:55 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I know very little about the USDA program but thank you for the education OK. I gave you follow. :) Feel free to follow back if you'd like

Aug 19, 2021 10:43 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Trish, was very nice to see your smiling face this morning, but looks like you haven't been writing in quite some time.  Hope you put another out soon.

Dec 01, 2021 10:01 AM