Profile picture for BlackBettie

USDA Guaranteed Loan in Oregon??

Can all fee's be included in a USDA Guaranteed Loan? Is there programs to help with closing costs and such?
  • July 17 2013 - Lebanon
  • 0Yes

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Answers (2)

Best Answer

Profile picture for Oregon Mortgage Pro
The USDA program is just like any other residential mortgage program when it comes to closing costs and prepaids.  You can elect to have the seller pay some or all closing costs, or you can elect to have the lender cover through lender rebates which results in a slightly higher interest rate.  It's good to review the rate sheet with your loan officer, as at times there are significant rebates with not a significant rate/payment change if necessary to decrease down payment or out-of-pocket settlement costs at closing.

It's easy to run the recapture on closing costs, etc.  Typically the additional USDA fee also is financed on top of the loan amount which is also not required directly out of pocket.
  • July 17 2013
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Profile picture for BlackBettie
Thank you Mr. Harris =)
  • July 17 2013
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