RMLO NMLS #156333 | Company NMLS #33131
Texas Home Loan
“Just call and listen in” to what my clients have to say. |
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What’s the latest news with USDA 4/19/2011 Another reason to buy now-PMI will be added to USDA mortgage loans starting June 1, 2011. If you are thinking about buying this year and need to use the USDA program it may best time to do it before the PMI is added. USDA has decided to join the rest of the herd and being charging PMI on the mortgage. They say it will be a minimal PMI charge but is necessary in order to meet up with the all recent demand for USDA loans. They have seen a 45% increase in USDA guaranteed home loans in the last 5 years. Its only of the only 100% loan programs left and perhaps the best mortgage on the market. The PMI rate is supposed to be .25% so on a $100k mortgage that would be around $25 per month still a lot cheaper than FHA which is 1.15%! |
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