​ HOME LOAN BASICS

• NO DOWN PAYMENT REQUIRED
• Closing costs can be financed into the loan
• Minimal credit score requirements – NO minimum score
• Low monthly mortgage insurance
• Home must be located in an eligible area
• Home must meet property eligibility requirements
• Fill out worksheet to get additional information about qualifying
• Must be a regular stick-built home
• Single Close Construction Program available
• USDA to USDA Streamline Refinances available

SFH Direct Loan and Grant Programs

February 7, 2022

Fee Increases for Origination Appraisals and Conditional Commitments

An Unnumbered Letter (UL) dated February 4, 2022, has been issued which increases the appraisal fee to $750 and the conditional commitment fee to $825 under the direct programs. The fee increases are effective March 6, 2022. The increased fees reflect market price increases for origination appraisals in rural areas and the average cost of appraisals under the programs’ nationwide contract with the Appraisal Management Companies.