See How the USDA Guarantee Fee Stays Low for 2018 to Help Home Buyers

Homebuyers received great news about the USDA Rural Development guaranteed loan program!  In 2017, USDA drastically reduced the  guarantee or funding fee they charge upfront on USDA loans, plus lowered the annual fee also.  So the great news is that the USDA guarantee fee 2018 (also often referred to as a USDA funding fee) will remain at the low 1% financed amount!  Additionally the annual fee will remain at .35% which is much lower than FHA’s standard 30 year rate of .85%.  The USDA fiscal year stretches from October 1, 2017 – September 30, 2018, so these fees will be effective until 9/30/2018.

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USDA Guarantee Fee 2018

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Gift Letter for Mortgage: Requirements for Who, What, and How Much

Buying a home is the American dream for many and there are a lot of programs available to accomplish this dream.  But what happens when the buyer needs a little extra funds in order to purchase?  That is where a gift can be very beneficial.  Although it is important to understand gift requirements such as the gift letter, who may be the donor, and verification of the funds.  Overall, there are several ways a gift may help a buyer and we will explain how the gift process letter

Reasons for a gift on a purchase:

  • Down payment
  • Cover closing costs
  • Pay off debts to qualify
  • Avoiding PMI

So as you can tell, gift funds may help a buyer get into a house in a big…

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Everything You Need to Know About Purchasing Rental Property

Whether it is a vacation rental or long term rental, buying rental property could be a big step towards financial freedom.  According to the National Association of Realtors, buying a rental or investment property actually accounts for approximately 20% of purchase transactions lately.  A benefit for investors that are able to buy rentals is that there is a huge need for quality rental properties.

The amount of renters is continuing to grow.

A major reason for the large number of renters is because the prices or values of properties are rental propertyincreasing above a comfort level for first time buyers.  The millennial generation has proven to be a little slower on moving from tenants to…

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Equifax Hack and How to Protect Your Credit Plus Identity

The recent Equifax hack has made 143 million people’s confidential information vulnerable.  So you may as well assume you have been hacked.  This is basically identity theft on steroids!  Credit is a double edged sword.  These days, everyone is a number and you need to have a good one.  Having credit increases hacking risks, but with knowledge there are precautions that can be used for protection.

How to Protect Your Credit & Confidential Information

Again, we are assuming that if you have credit, then your social security number and identity are at risk.  So it is important to be vigilant in the fight for your credit as well as your assets!  Follow these tips and most…

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