Beginning October 1, 2011, if you are buying a home in Virginia and using the 100% financing USDA rural housing loan program, the upfront guarantee fee that is financed into your new loan will be reduced from 3.5% to 2% of the loan amount. That's the good news.

Your mortgage will likely be your largest and most important debt while your home often represents your most significant and largest asset.

Most people understand that failing to make a payment will make your score go down, but there are a number of complexities that are not so obvious. If you pay your debts on time, don't carry too much debt on any one card, don't close older accounts unless absolutely necessary and only apply for new credit when you have to, you will generally be in good shape.

Virginia Mortgage offers competitive interest rates that always beat the banks! Andy Sikora Certified Mortgage Planning Specialist and Certified Liability Advisor to take your call 24 hours a day! Apply online anytime! Purchase, Refinance, Construction, Second Mortgage, FHA home loans, VA, USDA, VHDA.