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USDA Upfront Guarantee Fee Increase

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Yesterday, USDA Rural Development announced an increase to the upfront guarantee fee on guaranteed rural housing loans from 2.000% to 2.750% effective with conditional commitments issued on/after October 1, 2015. The Annual Fee remains unchanged at 0.500%

Based on USDA’s requirements, any loan that does not receive the conditional commitment (form RD 3555-18) on or prior to September 30, 2015 will be subject to the increased 2.750% fee.

Home Values in Wisconsin

Below, please find a chart depicting housing price gains during Q4 2014. Below that, I’ve listed annualized gains for 2014 as well as commentary on what all this means. Enjoy the good news for the home values in Wisconsin…and nationally!

Home Values By State

The appreciation figures shown are derived from the Federal Housing Finance Agency (FHFA) All Transactions Data and compiled by Estate of Mind, Inc. Appreciation will vary from year to year, can decline and, for any individual property, can be more or less than the averages illustrated here. Information is deemed accurate but not warranted.

 

Did you notice that all states experienced price growth last year? All indicators show that national home values are continuing to climb in 2015. Why is that good for you if you already own a home? Rising home equity may make it easier to:

  • Refinance or sell;
  • Access cash for home improvements, college tuition or many other important expenses; or
  • Eliminate mortgage insurance.

If you, or someone you care about, would like to explore the opportunities rising home values bring, please let me know by contacting my team. I hope you’ve enjoyed this report.