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USDA Rural Purchase Refinance- New Fees


USDA Rural Housing
 has announced a small increase to all Purchase and Refinance USDA mortgages starting Oct 2012.  Florida homeowners that have applied, or thinking about applying should make note of this.

The current fee structure looks like this –

Annual Fee ( or monthly PMI)

USDA Purchase and Refinance – .30% for the monthly or annual fee ( PMI)

Guarantee ( or Funding Fee)

USDA Loan Purchase – 2%

USDA Loan Refinance – 1.5%


As of 10/1/2012- the new fee structure will look like this -

Annual Fee ( or monthly PMI)

USDA Purchase and Refinance – .40% for the monthly or annual fee ( PMI)

Guarantee ( or Funding Fee)

USDA Loan Purchase – 2%  ( stays the same)

USDA Loan Refinance – 2% ( increase of .5%)

All homebuyers want to insure they have their USDA loan application and home loan commitment back no later than 9/30  to insure they stay on the current ( lower) fee chart.

Visit us at http://www.fivestarsmortgage.com/usda-rural-loan to lean amount the 100% USDA Housing loan here in Florida. 

 
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