I just got this notification from a loan officer. It concerns a very popular home loan in the Garland County and Hot Springs area home market. Offered by the US Department of Agriculture, the Rural Development Single Family Housing Guaranteed Loan Program (that's a mouthful) is reducing it's fees, making this popular home loan even more affordable.

There are of course stipulations one must meet to qualify for the loan (income limits, etc.) and the property itself must meet qualifications (it is a RURAL loan, so inside city and certain population densities will not qualify), but it is a 100% loan and closing costs can be rolled into it...ergo the popularity.

In the coming fiscal year...  "which begins October 1, 2016 and ends at the close of business onSeptember 30, 2017.  The upfront guarantee fee will change from 2.75% to 1.0% of the loan amount.  The annual fee will change from 0.50% to 0.35% of the average scheduled unpaid principal balance for the life of the loan. "

That's a pretty good savings! If you are interested, I can give you the names of some good loan officers, well versed and experienced in USDA-RD loans. Then we can go see those rural homes that qualify :)