Category Archive : USDA Property Eligibility

100% Financing getting cheaper

       USDA Guidelines & Rules / USDA Income Eligibility / USDA Property Eligibility / USDA Zero Down Loans

The USDA home loan (also known as the Rural Development mortgage) in Riverside County California and other areas is getting cheaper! Per a recent announcement, Effective October 1, 2016, both the upfront guarantee fee and the annual fee (paid monthly) will be reduced with USDA mortgages. This new fee structure will remain in place until September 30, 2017, the end…… Read More »

USDA Eligible Area survive until end of 2013

       Latest News & Updates / USDA Guidelines & Rules / USDA Income Eligibility / USDA Property Eligibility / USDA Zero Down Loans

On March 20, the Senate passed by a vote of 73 to 26 its amended version of the House-passed FY 2013 continuing resolution (CR), H.R. 933. On March 21, the House also passed, by a vote of 318 to 109, the amended version of the CR. The bill now goes to the President for his signature. The FY 2013 Agriculture…… Read More »

USDA holding off Change of Eligibility Areas Until March 2013

       Latest News & Updates / USDA Guidelines & Rules / USDA Property Eligibility / USDA Zero Down Loans

Good news, the recent USDA change of Eligibility areas was deferred until March 27, 2013. This means the geographic areas which had been singled out to be eliminated from eligibility for RD502 financing, will remain eligible until at least April 2013. Here’s the entire Notice from the USDA from September, 2012.

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How do USDA Streamline Refinances work ?

       USDA Guidelines & Rules / USDA Income Eligibility / USDA Property Eligibility

Just like FHA Streamlines, Streamlines on USDA loans are fast and easy refinances designed to drop the interest rate and payment. The full guidelines are found here : document AN 4549 at http://www.rurdev.usda.gov/rd-an_list.html here are the essentials about USDA streamline refinances : 1) the mortgage being refinanced must already be an existing USDA guaranteed loan. 2) The only manner in…… Read More »