This will increase on July 1, 2014 to a minimum exempt salary of $37,440 per year. By 2016, employees will need to earn at least $41,600 per year to meet the minimum salary test for exempt status. State minimum wage law will also impact the pay of commissioned inside sales employees.
USDA announces increase in the USDA guarantee or funding fee effective 10/1/2015 to 2.75%. For buyers, USDA mortgage loans are so popular (especially in NC, SC, and Virginia) because they allow first time or subsequent homebuyers to purchase a primary residence with no money down and with low monthly payments.
The VA Loan Funding Fee is one of the costs of doing business for borrowers who want a VA mortgage. The VA avoids the need to put a tax burden on the American economy by requiring borrowers to pay a percentage of the VA loan total.