Monday, October 17, 2016

USDA Loan Fees Have Been Reduced!

As of October 1, 2016, both the upfront “USDA Guarantee Fee” and monthly fee for purchase and refinance loans decreased.   The upfront Guarantee Fee was reduced from 2.75% to 1% and the monthly fee decreased from .50% to .35%. 

Image result for usda loan

The comparative savings for your USDA buyers in the chart below are based on a sales price of $150,000 and today’s 30-year fixed USDA interest rate of 3.250%.


OLD
NEW
Loan Amount
$154,241

* $150,000 purchase price +
2.75% Upfront Guarantee Fee
$151,515

* $150,000 purchase price +
1% Upfront Guarantee Fee
Total Estimated Mo. Payment
$984.95

* includes estimated real estate taxes & homeowners insurance
$953.19

* includes estimated real estate taxes & homeowners insurance


BENEFITS OF USDA FINANCING:
·         No money down / 100% financing
·         No purchase price limit or maximum loan amount
·         St. Louis County & St. Charles County Income limits for households of 1-4 occupants = $80,920;  5+ occupants = $106,850

Did you know....?

Flat Branch Home Loans is the second largest provider of USDA financing in Missouri.  Our expertise with this loan product and eligibility has made Flat Branch Home Loans a top choice for buyers who want a smooth loan transaction with no surprises or issues.

The seller can pay up to 6% of the sales price to cover closing costs and escrow fees at closing for a USDA buyer.  This allows a USDA buyer to purchase a home with little to no money out of pocket on the day of closing.

Buyers must purchase in a USDA-eligible area. Some areas of St. Charles County are eligible for USDA financing.  To determine if a property is eligible you can visit USDA’s eligibility site by clicking here.


https://lh4.googleusercontent.com/-jcobKLKyFrQ/AAAAAAAAAAI/AAAAAAAAABA/yRMqzMOXoFk/photo.jpg
Amy Hess
Senior Mortgage Banker
Flat Branch Home Loans
16150 Main Circle Dr. Suite 220
Chesterfield, MO. 63017
Work: 314-872-0998 ext. 2586 | Mobile: 573-291-2704 | Fax: 314-219-8575
NMLS ID: 58000 | Company NMLS: 224149
ahess@flat-branch.com | flatbranchhomeloans.com
http://www.fbtreehouse.com/wp-content/uploads/2014/09/06_android.pnghttp://www.fbtreehouse.com/wp-content/uploads/2014/09/05_apple.png

USDA Loan Fees Have Been Reduced!

As of October 1, 2016, both the upfront “USDA Guarantee Fee” and monthly fee for purchase and refinance loans decreased.   The upfront Guarantee Fee was reduced from 2.75% to 1% and the monthly fee decreased from .50% to .35%. 

Image result for usda loan

The comparative savings for your USDA buyers in the chart below are based on a sales price of $150,000 and today’s 30-year fixed USDA interest rate of 3.250%.


OLD
NEW
Loan Amount
$154,241

* $150,000 purchase price +
2.75% Upfront Guarantee Fee
$151,515

* $150,000 purchase price +
1% Upfront Guarantee Fee
Total Estimated Mo. Payment
$984.95

* includes estimated real estate taxes & homeowners insurance
$953.19

* includes estimated real estate taxes & homeowners insurance


BENEFITS OF USDA FINANCING:
·         No money down / 100% financing
·         No purchase price limit or maximum loan amount
·         St. Louis County & St. Charles County Income limits for households of 1-4 occupants = $80,920;  5+ occupants = $106,850

Did you know....?

Flat Branch Home Loans is the second largest provider of USDA financing in Missouri.  Our expertise with this loan product and eligibility has made Flat Branch Home Loans a top choice for buyers who want a smooth loan transaction with no surprises or issues.

The seller can pay up to 6% of the sales price to cover closing costs and escrow fees at closing for a USDA buyer.  This allows a USDA buyer to purchase a home with little to no money out of pocket on the day of closing.

Buyers must purchase in a USDA-eligible area. Some areas of St. Charles County are eligible for USDA financing.  To determine if a property is eligible you can visit USDA’s eligibility site by clicking here.


https://lh4.googleusercontent.com/-jcobKLKyFrQ/AAAAAAAAAAI/AAAAAAAAABA/yRMqzMOXoFk/photo.jpg
Amy Hess
Senior Mortgage Banker
Flat Branch Home Loans
16150 Main Circle Dr. Suite 220
Chesterfield, MO. 63017
Work: 314-872-0998 ext. 2586 | Mobile: 573-291-2704 | Fax: 314-219-8575
NMLS ID: 58000 | Company NMLS: 224149
ahess@flat-branch.com | flatbranchhomeloans.com
http://www.fbtreehouse.com/wp-content/uploads/2014/09/06_android.pnghttp://www.fbtreehouse.com/wp-content/uploads/2014/09/05_apple.png

Friday, October 07, 2016

Welcome home to this 5 bedroom 3 Full bath with over 2000 sq ft of living space.

Welcome home to this 5 bedroom 3 Full bath with over 2000 sq ft of living space. This home was professionally refinished complete with 42" cabinets, granite counter tops, stainless appliances. Updated baths with ceramic tile and vanities. All new 6 panel doors, carpet, Laminate flooring, fresh paint. HVAC, Plumbing and electric with 200amp panel all new. Entertain on your brand new deck off the kitchen or straight from the walkout lower level. Basement is also been finished with new tile floors and new carpet. Relax and move right in. New vinyl siding, garage door, and roof. Great location within minutes of Creve Coeur lake, Maryland Heights rec. center and lots of shopping and restaurant's. Make your appointment today. This completely updated house will not last long.

2234 Arborview Dr, Maryland Heights 63043









314-503-1186

Ask about our
$195 Flat Fee MLS Listings
Lauralei Properties, LLC

Monday, October 03, 2016

MHDC’s newest grant program called “Next Step


MHDC’s newest grant program called “Next Step” now allows non-first time homebuyers to qualify for down payment assistance with a higher income restriction!  Check out the attached information sheet to compare the two MHDC grant program options currently available for your buyers.

Now ANY HOMEBUYER looking to purchase their primary residence can potentially qualify for MHDC’s newest grant program called MHDC Next Step!

MHDC “Next Step” Program Features:
1.      Grant is equal to 4% of the borrower’s base loan amount
2.      Higher Household Income Limits:  $84,360 for 1 – 2 persons; $98,420 for 3+ persons
3.      Higher Purchase Price Limits:  $312,368 for a one-unit property
4.      Two year forgivable down payment assistance grant
5.      Available to use with Conventional, FHA, USDA, and VA financing options
6.      Rates will adjust daily.  Contact me directly to find out current rates!

Let me know if I can help your buyers currently shopping for homes get pre-qualified for this program.

https://lh4.googleusercontent.com/-jcobKLKyFrQ/AAAAAAAAAAI/AAAAAAAAABA/yRMqzMOXoFk/photo.jpg
Amy Hess
Senior Mortgage Banker
Flat Branch Home Loans
16150 Main Circle Dr. Suite 220
Chesterfield, MO. 63017
Work:
314-872-0998 ext. 2586 | Mobile: 573-291-2704 | Fax: 314-219-8575
NMLS ID: 58000 | Company NMLS: 224149
ahess@flat-branch.com | flatbranchhomeloans.com
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