USDA Rural Development home loans- effective on October 1st 2012 the USDA Rural Housing will increase the Up-Front (one time) Guarantee Fee and Annual Fee (monthly) structure as follows for all new USDA mortgages:
USDA Rural Up-Front Guarantee Fee (One-Time)
|
FY 2012 Through 9/30/2012 |
FY 2013 Effective 10/01/ 2012 |
|
| All Purchase Transactions (no change) |
2% |
2% |
| All Refinance Transactions |
1.5% |
2% |
USDA Rural Annual Fee (Monthly Fee)
|
FY 2012 Through 9/30/2012 |
FY 2013 Effective 10/01/2012 |
|
| All Purchase Transactions |
.30% |
.40% |
| All Refinance Transactions (Pilot program) |
.30% |
.40% |
The Government backed Rural Housing program still permits home buyers to purchase a home with NO down payment needed. Plus, the monthly mortgage insurance costs are still considerably LESS when compared to FHA mortgages. Questions? Please submit the short request form on the right side of this page, or call us at 904-302-6060. www.UsdaMortgageSource.com
Important Links for homebuyers-
USDA income eligibility limits for Florida
Frequently asked USDA loan questions
