HUGE Announcement!!!!
The USDA made some major improvements to the Single Family Housing Guaranteed Loan Program also know as a Rural Development loan. The upfront guarantee fee changed from 2.75% to 1% of the loan amount and the annual fee changed from .5% to .35% of the average scheduled unpaid principal balance for the life of the loan. What’s that mean????
Here is a 150,000 example:
Old Program | New Program | |
---|---|---|
Upfront Fee | $ 4,241.63 | $ 1,515 |
Monthly Fee | $63.75 | $43.84 |
Now the really cool thing is the RD loan program is once again in many cases much more attractive to home buyers than an FHA loan. Lets run a quick comparison.
FHA VS RD $150,000 price, assuming 4% interest rate, $200 for property taxes, & $80 for insurance
FHA | Rural Development | |
---|---|---|
Principle & Interest | $703.15 | $723.36 |
Insurance | $80 | $80 |
Taxes | $200 | $200 |
Mortgage Ins. (PMI) | $101.71 | $43.84 |
Total payment: | $1,084.86 | $1,047.20 |
Down Payment Required | $5,250 | $0 |
So RD saves $38 per month and is zero down! |
For more information feel free to reach out to me or download this flyer!
Feeling the squeeze of a saturated market? Ready to cultivate a loyal network of clients who become your biggest advocates? Then join us for an event diving into the powerful world of Sphere Based Marketing. This approach focuses on leveraging your existing network to generate leads and build lasting client connections. Think of it as nurturing the fertile ground closest to you before venturing further afield.