3 Requirements of USDA Loans – Being a farmer not one of them This week on The Mortgage Minute, we are going to go over the 3 eligibility requirements of USDA loans. The Mortgage Minute is weekly informational series presented by Laura Borja, Your San Diego Home Loan Expert First, what is a USDA loan? […]
Today is the day that the USDA Upfront Guarantee fee will be increasing to 2.75% The Annual (monthly) fee will remain at .5% The information below is a re-post of a previous article on this website. It shows the breakdown of the changes and how USDA compares to VA, FHA and Conventional financing. USDA […]
USDA Loan Guarantee Fee Increase UPDATE ISSUED- TAKE A LOOK AT THIS POST. Effective October 1st, the USDA loan guarantee fee will be increasing from 2% to 2.75% for the upfront premium. The USDA loan guarantee monthly premium will remain at .5%. The upfront USDA loan guarantee fee is the equivalent of FHA’s upfront mortgage […]
Rural Housing announces that it is NOT going to make any changes to the eligibility map of USDA loans in San Diego County. Areas of Bonsall, Fallbrook, Julian and Ramona were expected to no longer be eligible effective October 1, 2014. However, the President signed the “Continuing Appropriations Resolution, 2015” on September 19th. which extended the current criteria used to […]
USDA home loans requires no money down and closing costs can be paid by the seller making USDA home loans a great alternative to FHA financing. The program is available for properties considered to be in a rural area in California. (click here for link to eligible areas). There are many benefits to USDA Home […]