Re: Evaluating Convention
al vs. FHA (VA & USDA)
03-05-2011 09:07 PM
Thanks Mortgage man. But what about USDA. The County I live in is approved for USDA loans. Why are they different from FHA and Conventional?
Not sure if you saw, but there was a part that talked about USDA as well. The direct link is USDA & VA differences.
To add to the USDA section, effective in October 2011 there will start being a monthly fee amount on the Guaranteed version (Direct will remain no monthly fee). The amount is .3% per year, or on a $100k loan it translates to roughly $25/mo.
"Knowledge is knowing a tomato is a fruit. Wisdom is not putting it in a fruit salad."