: USDA Has Funds Available For Home Financing

USDA Has Funds Available For Home Financing

USDA Has Funds Available For Home Financing 

Effective 06/1/2010

Effective June 1, 2010, USDA Home Loan financing is available to homebuyers.  However there are some major changes to the program.

First: The USDA Funding Fee is no longer 2.00% (two percent)

Second: The "NEW" USDA Funding Fee is 3.50% (three and a half percent)

Third: The GUS System (Guarantee Underwriting System) is currently turned off.  This means that the homebuyer's qualification will be strictly adhered to the USDA Guidelines.

**With GUS; the homebuyer can potentially qualify for a higher sales price

If you have any questions, please call us at 480.344.3671

Academy Mortgage - Mesa, AZ

Ted Canto, Mortgage Consultant

www.academymortgage.com/tedcanto

www.tedcanto.com

www.tendayclose.com

www.arizonamortgageteam.com

 

 

Comment balloon 2 commentsTed Canto • June 01 2010 08:54PM

Comments

Ted....That's a big jump in the funding fee!  I guess they have money, so they can charge for it!  I'll be interested to see how many people use this program.

cosmic cow

Posted by Carra Riley (Brokers Guild Cherry Creek Ltd) over 7 years ago

it is  but with  the tax credit gone and  people still looking for ways to hold onto their cash, they will still take the program

Posted by Ted Canto, Arizonan #1 Mortgage Lender (Amerifirst Financial, Inc) over 7 years ago

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