Frequently Asked Questions

  Our Service Fee:

There is a $150 origination and administrative fee. The final packaging fee is included in the mortgage loan closing. 

Standard Loan Costs:

These are separate fees charged by others involved in the mortgage process, such as credit report bureaus, insurance companies, and closing services. These costs can vary by state, but may potentially be covered by the seller during negotiation.

  Yes, at any time. Loans are subject to subsidy recapture, and you can read more from USDA’s fact sheet on subsidy recapture: Here 

  Your approval demonstrates you are eligible for 120 days to find a home and go under contract. You are not required to close within 120 days. 

The loan takes longer than a conventional loan to close after going under contract, but offers the opportunity to continue learning about personal finance, budgeting, debt elimination and insurance protection. Applicants are truly prepared and empowered as new homeowners. 

  No. We currently only package homes for purchasing new construction and existing homes.

  No, Pivot Point Housing itself does not offer or originate loans, however we partner with the USDA Rural Development to qualify very low to low-income families for this home loan program.

  Pivot Point Housing is certified to package loan files for the USDA-RD Direct Loan Program. We collaborate with other non-profits and community agencies performing outreach throughout communities in Mississippi and other states across the country.