Posted on: 26th Aug, 2010 06:09 pm
Has any one heard anything on the usda funds. thankyou
Welcome wkxstone,
There has been a recent legislation where the Congress provided USDA with authority to resume the Single Family Housing Guaranteed Loan Program (SFHGLP) at no cost to taxpayers. Apart from this, they will be able to increase the upfront fee up to 3.5% of the principal obligation, charge a new annual fee of up to 0.5% of the outstanding principal balance and waive payment of any fees for low and very low income borrowers.
There has been a recent legislation where the Congress provided USDA with authority to resume the Single Family Housing Guaranteed Loan Program (SFHGLP) at no cost to taxpayers. Apart from this, they will be able to increase the upfront fee up to 3.5% of the principal obligation, charge a new annual fee of up to 0.5% of the outstanding principal balance and waive payment of any fees for low and very low income borrowers.
thanyou
You're welcome :-) If you have any further queries regarding mortgage or related financial issues, feel free to post it in the forums. The members/experts participating in the forums will try to help you in resolving your query.