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USDA Loan Introduces Cheaper Fees

July 29, 2016

Good news for first time home-buyers! The United States Department of Agriculture (USDA) has announced lower upfront and monthly fees for its home loan program. The upfront fee will drop from 2.75% to 1% and the monthly fee will drop from 0.5% to 0.35%. This program is already popular, as it requires zero down payment and straight guidelines indicate that people with credit scores as low as 640 are eligible, but now it will become even more popular. Experts believe that this drop in fees will make the USDA loan one of the most affordable home loans available, and with this loan can make buying a home cheaper than renting. These new guidelines go into affect beginning October 1st. The USDA loan is available for four Grant & Co. neighborhoods: Maplebrook, Gwin Farms, Trinity Park, and Forest Hill. If you are thinking about buying home now is the time. 

Go to grantnewhomes.com for more information and let us get you into the home of your dreams.