USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011

Richard Peck Senior Mortgage Advisor Walker Jackson Mortgage Corporation Phone: (843) 209-5937 Fax: (843) 881-7383 License: 248037 richard.peck@wjmortgage.com

USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011 What Does This Mean To You? USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required. But a change is coming! Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal balance for the life of the loan. If you're thinking of purchasing a home and you're wondering if you may qualify for a USDA loan, give me a call right away. Home loan rates are still very attractive. Let's see if this program is right for you...before the October 1 fee begins. Sincerely, Richard Peck Walker Jackson Mortgage Corporation richard.peck@wjmortgage.com