USDA Mortgages and Student Loans, What You Need To Know STUDENT LOANS AND DEBT-TO-INCOME RATIOS: Income Based Repayments and Deferred loans Student loans are long term liabilities that must be included in the debt ratio calculation per USDA Mortgage Instruction 1980-D, section 1980.345(c). Because some student loans are not on fixed payment […]
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Browsing Posts in USDA Loan Updates
August 1, 2012 Advance Notice: Changes to the USDA Mortgage Upfront Guarantee Fee and the monthly mortgage insurance Annual fee Effective on October 1, 2012, the start of Fiscal Year (FY) 2013, Rural Development will revise the Up-Front Guarantee Fee and the monthly mortgage insurance fee structure as follows: Up-Front Guarantee […]
USDA Mortgage Funding Update – 10/13/2011! USDA Rural Housing Funding Update USDA Mortgage Online is pleased to announce that USDA Rural Development has authorized the issuance of Conditional Commitments for the Single Family Housing Guaranteed Loan Program so we can continue to close and fund USDA Mortgages even though most lenders have suspended the […]
USDA Mortgage Update: Monthly Mortgage Insurance Starting October 1,2011 According to a recent Administrative Notice (AN4551 which can be seen HERE) sent out by USDA, starting October 1, 2011 the upfront guarantee fee will be reduced from 3.5% of the loan amount to 2% with the addition of minimal monthly mortgage insurance on all purchase […]
June 10, 2010 USDA Funding Update! USDA Rural Housing Funding Update USDA Mortgage Online is pleased to announce that USDA Rural Development has authorized the issuance of Conditional Commitments for the Single Family Housing Guaranteed Loan Program so we can continue to close and fund USDA Mortgages even though funds for Fiscal Year 2010 are […]
