USDA Funding Shortfall May Lead to Changes

For many looking to purchase a home, the government’s USDA program (100% financing) is the preferred option.  However the money for the program is falling short.

 Because of the funding shortfall, the USDA program is receiving additional scrutiny because of its  no downpayment provision and 2% guarantee fee.  For example, we hear that Congress is considering raising the guarantee fee from 2% to 3.5%.  We will keep you apprised of the progress of any legislation.

Post Contributed by Shane Siniard with WR Starkey Mortgage

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