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usda guaranteed rural housing: ***USDA Funding - Possible Delays after 10/1/2011 - 09/30/11 10:36 AM
USDA UPDATES
USDA has advise in an unofficial memo, that effective 10/1/2011, USDA will not issue “subject to conditional commitments” as they normally do every year. They have funds that will last through the end of the month, so all loans with conditional commitments by 9/30/2011 will be ok, and can fund AFTER 9/30/2011.
On October 1st, however, they will stop issuing commitments until congress approves their budget (even though it’s a self-funded program congress needs to approve) and funds are loaded into their system. USDA anticipates this could delay loans 2 weeks from getting clear commitments. So … (2 comments)
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usda guaranteed rural housing: For MISSISSIPPI - Fairway Mortgage Ranked #6 in Mississippi for USDA GRH Loans - 01/14/11 09:53 AM
Fairway Mortgage in Hernando was recently notified by the State Director of USDA Rural Development, Mississippi State Office that our branch was currently ranked #6 in the State of Mississippi as a TOP TEN LENDER for originating and closing USDA Guaranteed Rural Housing Loans for the 2010 Fiscal Year!!!
Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage Company." NMLS ID #2289. An Equal Housing Lender. All loans are subject to credit approval and compliance with investor guidelines.
Know your mortgage options!
For more information about the USDA Guaranteed Rural … (0 comments)
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usda guaranteed rural housing: For MISSISSIPPI - USDA Rural Housing Receives $94million for Certain Counties - 04/21/10 08:57 PM
The State of Mississippi has received an additional $94 million in Guaranteed Rural Housing funding for Hurricane Katrina affected disaster counties.
These funds can be used to purchase new or existing properties or construct new dwellings in the following counties:
Adams, Amite, Attala, Choctaw, Claiborne, Clarke, Copiah, Covington, Forrest, Franklin, George, Greene, Hancock, Harrison, Hinds, Holmes, Humphreys, Jackson, Jasper, Jefferson, Jefferson Davis, Jones , Kemper, Lamar, Lauderdale, Lawrence, Leake, Lincoln, Lowndes, Madison, Marion, Neshoba, ,Newton, Noxubee, Oktibbeha, Pearl River, Perry, Pike, Rankin, Scott, Simpson, Smith, Stone, Walthall, Warren, Wayne, Wilkinson, Winston and Yazoo.
The USDA program has also received an … (0 comments)
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usda guaranteed rural housing: Think USDA Rural Housing First!! - 01/18/10 03:05 PM
If the USDA Rural Housing loan applys to your area, make sure you are working with a local lender who will offer this product to your client as a possible mortgage option.
Additional benefits with USDA Rural Housing:
Can be used in conjunction with MSHC Homebuyer Advantage Grant Flexible credit guidelines Not subject to HVCC guidelines (FHA is adopting February 2010) No sales price limitation as with FHA No minimum down payment required Allows for repair escrow (must escrow 150% of cost - up to 110% of appraised value) Closing costs can be financed (with room between the purchase price … (3 comments)
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usda guaranteed rural housing: For MISSISSIPPI - 13 Things You Should Know About USDA Rural Housing Loans - 05/14/09 06:03 PM
13 Things You Should Know About the USDA Rural Development Loan
USDA Rural Development has TWO different loans. Rural Development loans are broken down into two different loan types: USDA Guaranteed Rural Housing (GRH) Loans and USDA Direct Loans. USDA Guaranteed loans are originated through local Lenders, Banks and Brokers. The USDA Direct Loan is originated directly through the USDA office. There are distinct benefits of each program. NEW Income Limits - Based upon the number of people in the household: 1 to 4 = $73,600.00 and 5 to 8 = $97,150.00. 100% Financing - NO down payment. Can … (1 comments)
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Doug Capps, MMS, CLO, CRMS
Hernando,
MS
More about me…
Fairway Independent Mortgage Corp.
Address: 224 West Commerce St, Hernando, MS, 38632
Office Phone: (662) 429-5100 x 105
Cell Phone: (901) 412-9590
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