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 (6)

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