Kentucky Rural Housing USDA – Upcoming Changes – October 2016 Submit your applications beginning Tuesday, September 13, 2016


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The USDA has announced exciting changes that will be implemented in October 2016. USDA is a great product that offers 100% financing, zero down payment for certain rural areas.

Effective in October 2016, there will be two big changes to the USDA product:

  • The Up Front Funding Fee will be reduced to 1%. It currently stands at 2.75%. This reduction can help to reduce the total loan amount. 
  • The Monthly PMI will be reduced to .35%. It currently stands at .50%. 

These two significant changes by the USDA program will certainly be welcomed and will help borrowers to obtain their dream home.

 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
text or call my phone: (502) 905-3708
email me at kentuckyloan@gmail.com
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people. NMLS ID# 57916, (www.nmlsconsumeraccess.org). Mortgage loans only offered in Kentucky.
All loans and lines are subject to credit approval, verification, and collateral evaluation and are originated by lender. Products and interest rates are subject to change without notice. Manufactured and mobile homes are not eligible as collateral.

 

 

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2 thoughts on “Kentucky Rural Housing USDA – Upcoming Changes – October 2016 Submit your applications beginning Tuesday, September 13, 2016

  1. : Conventional loan, Debt to Income Ratio, down payments, FHA, FHA Loans Kentucky Housing First time home buyer, Louisville Kentucky First Time Home Buyer, rhs loans kentucky, USDA, VA

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