USDA Annual Fee Increase
USDA Rural Development home loan annual fee increased to 0.50% effective October 1, 2014. This USDA fee is paid monthly as part of your USDA mortgage payment.
USDA Rural Development fee increase example:
Your new USDA loan originated after October 1, 2014, is for $120,000. The annual fee of 0.50% equates to $600 owed to USDA your first year. The $600 is divided by 12 and paid monthly as part of your USDA payment = $50.00 monthly.
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