Great news for USDA home buyers!
Beginning October 1, 2016 (fiscal year 2017), the USDA upfront guarantee fee will be reduced from 2.75% to 1.0% of the loan amount. In addition, the annual fee will be reduced from .50% to .35% of the average scheduled unpaid balance for the life of the loan.
This could mean significant savings for your rural area buyers that take advantage of USDA and its financing options up to 100%.
Additional details can be found here:
We’re always working to find the best fit for your clients. Call us today if you have any questions or scenarios you’d like us to look at. 407.869.8830