Nephi is a beautiful town almost in exact center of the great State of Utah. We recently helped 2 clients purchase their homes in Nephi. Although their situations were different, each were able to take advantage of different home loan programs available for rural areas. For privacy reasons, we've chosen not to disclose our [...]
Buying your first home is a fun and exciting time. It's also a new experience and can be overwhelming, and frankly, a bit scary. Many people don't know that there are several different loan programs available for first time home buyers. Each loan program has different guidelines in regards to credit, income, debt ratio, [...]
Do you know whether you qualify for a USDA Single Family Housing Guaranteed Loan Program? It’s not uncommon for homebuyers to be unaware that they are looking at properties in an area designated as rural by the USDA, and that they may qualify for the 100% financing that comes with a USDA loan. This [...]
On September 26, 2016, USDA has announced that funding for the Single Family Housing Guaranteed Loan Program will not be available for a short period of time at the beginning of Fiscal Year 2017, which starts October 1, 2016. During the temporary lapse of funding, Rural Development will issue Conditional Commitments “subject to the availability [...]
In September 2016 USDA announced a change in both the Upfront Guarantee fee as well as the Annual Fee. Both fees are seeing significant reductions for loans issued after October 1, 2016. The upfront guarantee fee is changing from 2.75% to 1.00% and the annual fee is changing from .50% to .35%. What does that mean [...]