Monthly Archives: August 2012

Flood zones and USDA properties

Typically when a home is in a flood zone, lenders will require flood insurance in addition to the normal homeowners / fire insurance policy that all homeowners obtain.  In most cases, the cost of the flood insurance will pretty much … Continue reading

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USDA out of refinance funds until 10/1/12

USDA announced on August 17th that they have run out of funding authority for refinances until the new fiscal year starting October 1st, 2012.  At that time the refinances will be subject to the 2% up front guarantee fee (up from 1.5%), … Continue reading

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New USDA fees effective October 1, 2012

The up front Guarantee Fee for USDA refinance loans and the Annual Fee for both purchase and refinance loans will increase for the new fiscal year beginning October 1, 2012, through September 30, 2013. Effective October 1st, 2012, the new … Continue reading

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