Effective October 1, 2015, USDA Rural Development has increased their funding fee (MIP or Mortgage Insurance ) from 2.00% to 2.75%. This is a fee that gets added to your loan amount and amortized over the 30 year term of the loan. This is higher than the FHA funding fee of 1.75% but USDA still maintains the lowest monthly mortgage insurance of .50% vs. FHA MI of .85% so the monthly payment can still be the lowest, with 100% financing. Oregon is a great place to utilize this program with many affordable homes out there. Call 503-316-8000 or go on-line to www.USDALoanOregon.com to apply now.