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Breaking News!

Breaking News. The U.S. Department of Agriculture’s Rural Housing Service is raising the cost of its home-loan guarantees that enable borrowers to purchase homes in certain areas without down payments. On Oct. 1, the upfront fee paid by buyers under the USDA program will rise to 2.75 percent, from 2 percent, according to an e-mail from David Sandretti, a spokesman for the agency. Borrowers can add the increase in upfront fees, he said, to the monthly payments for their 30-year loans, which would total about $4.83 for a typical home loan of $135,000. Source: National Mortgage News