The USDA Rural Mortgage Loan was one of the only remaining 100% loan-to-value opportunities for lower income buyers who do not have a lot of savings for downpayment. Bobby Wallace from Anchor Mortgage sent me a very timely reminder email that I thought would be good to share with the followers of this blog:
The changes being implemented as of October 1st are:
This table shows the difference in monthly payment for a $100,000 loan between the CURRENT and the FUTURE USDA programs.
As you can see, if you are thinking of using this program to buy a home, it is VERY DESIRABLE to act soon!
If you have any questions about loan programs, please contact Bobby Wallace at 843-200-5617.
If you are ready to start the home buying process, please contact us or call us on 843-864-3777.