Tia Stanley Team | Home Under Contract | Robertsdale AL
The Tia Stanley Team with RE/MAX BY THE BAY has another home under contract. This is a great property located in Robertsdale, AL that has just over an acre and terrific layout, that includes a complete upstairs suite. Check it out here: 20459Hwy90.com
Effective October 1, 2011, USDA will decrease the upfront Guaranty Fee from 3.5% to 2.0% for new purchase transactions. However, at this time USDA will be adding an annual fee that will be paid monthly by the borrower, which is similar to FHA. The new annual premium will be based on .30 basis points on the unpaid principle balance, to be paid in monthly increments.
USDA loans are a great loan if you and the property qualify. In our area of Baldwin County, basic guidelines are that the home you are purchasing must be outside of the city limits of Fairhope, Daphne and Spanish Fort, Alabama. Of course, there are other requirements including income, so talk to a lending specialist for details.
Special thanks and credit to Sherry Peoples with Mortgage America, Inc. for keeping us informed of these important changes.