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USDA vs FHA Mortgage Insurance Rates

By Rock River Financial, LLC

Company NMLS #239278

Do you know the difference between USDA and FHA?  With FHA or USDA you will have mortgage insurance or PMI (private mortgage insurance).  98% of home loans with less than 20% down-payment will have some sort of PMI (there are many types – call me for an explanation). At the time of this writing FHA PMI is at 1.35% per Month vs. USDA at 0.40% per month ~ a huge difference!  While FHA allows you to purchase in a larger city – USDA is only for Rural areas.  So even though both of these programs have Mortgage insurance USDA premiums are about 70% less than FHA.

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Rock River Financial
388 State Street #445
Salem, OR 97301

Office: (503) 316-8000
Fax: (503) 316-8004

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