No Down Payment Loans

Great news has been announced about the USDA home loan program, it just got a lot more affordable.

The US Department of Agriculture (USDA) has announced that starting Oct 1, 2016, home buying could now be less expensive than renting. This loan will be one of the most affordable home loans available. Mortgage insurance fees will be less than FHA loans, and will prove to be a favorite among first time home buyers. For those of you unfamiliar with a USDA loan, take note, this could be your ticket to having an easy way to finance your dream home.

All loans have fee associated with them in one way or another, but the USDA is incredibly affordable with these changes. The upfront guarantee fee (the fee is typically added to the loan balance so that home buyers do not have to pay it in cash) has been reduced from 2.75% to just 1%. The upfront guarantee fee reduction will drastically reduce the amount financed in the loan. This means lower monthly payments! The USDA is also lowering the monthly fee from .50% to .35%.

This will help more people qualify for purchasing a home, as it will lower their monthly payments, and help with their debt-to-income requirements. If you have been advised before that you would not qualify for a home loan because of your income, or you have put off purchasing because of a down payment, this drop in charges from the USDA may just be the opportunity you’ve been waiting for to make your home purchase a reality.

Contact us today for more details about this fantastic program!

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018