USDA Financing Drop

Effective October 1, 2016, the US Department of Agriculture Rural Housing Service will lower upfront and annual fees charged to lenders through the Single Family Housing Guarantee Program.

Low delinquency and foreclosure rates were cited as just cause for the decrease. 

Local REALTOR Tom Gale commented, "The funding fee is going from 2.75% to 1% and the annual fee is going from .5% to .35%, saving buyers a good amount of money...  The USDA loan program will be reviewed every year for potential tweaks one way or another, but very good news for buyers getting 100% financing in the next 12 months."

If you are in the market for a home, please call Team Gale at 910-541-1212

If you are interested in pre-qualifying and pursuing a USDA loan, call John Cunius with Alpha Mortgage at 910.228.8824