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.
VA Funding Fee. Generally, all Veterans using the VA Home Loan Guaranty benefit must pay a funding fee. This reduces the loan's cost to taxpayers considering that a VA loan requires no down payment and has no monthly mortgage insurance. The funding fee is a percentage of the loan amount which varies based on the type of loan and your military category, if you are a first-time or subsequent loan user, and whether you make a down payment.