Friday, April 29, 2016

Kentucky USDA Mortgage Loans get Drastically Lowering Costs for Buyers

Kentucky USDA Mortgage Loans get Drastically Lowering Costs for Buyers

Here's an example of the savings: The current funding fee on a $100,000  purchase would be about $2,50  financed on top of the loan but 1% would make it just a little over $1,000.  That is a great savings, then there will be an additional lower payment because of the lower annual fee. For example on the monthly payment savings you are now looking at about an $14 monthly difference in your monthly payment.

Not only buyers looking for a no money down purchase at a great fixed rate can take advantage of this but also borrowers with a  current USDA loan can use these features to refinance to a new USDA loan even with no appraisal
.  


Call us for questions/scenarios you have and approving buyers up-front or if you have an issue on a borrower. 







-- 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)



 phone: (502) 905-3708
 Fax:     (502) 327-9119







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