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usda home loans johnston county: 21 Communities in NC Could Be Ineligible For USDA Home Loans 10/1/12 - 05/07/12 12:32 PM
Twenty-one communities in North Carolina who are currently eligible to receive USDA Home Loans could LOOSE that aid starting October 1, 2012. My daddy always says that we “Get Rural Fast” in North Carolina… one minute you can be neighborhood after neighborhood, and 20 minutes later you are in the country, hearing roosters when you wake up! But with the Newest Census Numbers in hand, areas I've always thought of as "NON-Metropolitan" could lose that status, and with it - eligibility for the USDA Home Loan Program.
The program is based upon the needs of America for mortgage financing areas in … (2 comments)
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usda home loans johnston county: New Charges For USDA Home Loans 5/2010 - 05/11/10 02:07 PM
The USDA Single Family Housing Mortgage guys just sent out notification that they will likely be out of the "2010" money on May 12, 2010. Assuming the Senate passes the House Bill (H.R. 5017) then USDA says in the memo it will continue to issue Commitments with the following language:
"subject to the availability of funds and Congressional Authority to charge a 3.5 percent guarantee fee for purchase loans and 2.25 percent guarantee fee for refinance loans."
What does all of this mean??? Well, it means that sometime tomorrow - even if your loan is approved and sitting in a stack … (2 comments)
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usda home loans johnston county: The USDA Home Loan Shuffle - Are they running out of Money??? - 04/06/10 03:11 PM
A little birdie told us last month that USDA Rural Economic was going to run out of money... and Wells Fargo, and probably some other banks too, stopped taking any USDA Home Loan Applications. (click here for more details)
At the time... we were using about 100 million dollars in USDA Home Loans a Day from the line, and at that rate, it looked like we would run out by April 17th, 2010.
Once they ran out, we were told... the program might change, or maybe there would be a next Tax Credit Extension... or maybe Congress would just give them … (5 comments)
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usda home loans johnston county: USDA Home Loans in NC Are Affordable! - 03/01/10 04:21 PM
In North Carolina, we get RURAL in a hurry! I mean you can be in an area where you hear Roosters when you wake up, and only have to drive about 25 minutes to your job at the Research Triangle Park! One of the programs that folks in this area are interested in, because it IS available - is the USDA Home Loan that's been specifically designed for those who want to live in a more Rural Area... like Holly Springs, or Wake Forest!
To qualify for the mortgage loan, the home must be inside the "Foot Print" that the USDA Home … (6 comments)
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usda home loans johnston county: USDA Home Loans in TROUBLE for November 2009! - 10/23/09 06:53 AM
DARN... DARN... DOUBLE DARN!
We have a TON of customers closing in the next 10 days who think they are going to:
a) move in next week
b) use USDA Home Loan Financing for their 100% (no money down) financing
c) GET THE $8000 Tax Credit
Well, guess what BOMB just hit MY Email this morning?!?!?
FROM: Single Family Housing Guaranteed Loan Program, Washington DC
The President has signed the Agriculture Appropriations Act for fiscal year (FY) 2010. Since October 1, 2009 we have operated under a Continuing Resolution (CR) with carryover funds from FY 2009 and funds allocated under the … (12 comments)
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usda home loans johnston county: 121 Roscommon Lane in Clayton, NC Qualifies for USDA Financing! - 08/25/09 05:51 PM
This house can definately use USDA Home Loan financing! If you are looking for a home in an area that "has some land" - then this might be the one for you!
If you are a first time homebuyer, and you are wondering what the payments on this home would be... about $1200. Considering the extra tax benefits of owning a home (you know, buy a house, get a raise!) it compares to less than $1000 in rent. SWEET!
AND... remember, the tax credit for First Time Homebuyers will run out soon, and USDA offices are backed up, so make … (3 comments)
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usda home loans johnston county: FHA Downpayment Guidelines for NC - You might be Surprised! - 07/20/09 05:13 PM
Are you a First Time Homebuyer, dreaming of the day when you can sit among your boxes, in your new home?
HUNDREDS of first time homebuyers in Cary, Apex, Holly Springs are doing just that, and taking advantage of the now "famous" $8000 Downpayment Assistance program available through NC Housing Financing!
These same people are purchasing wonderful $300,000 plus priced homes using FHA Financing!
The North Carolina Housing Finance Agency, is advancing up to $8000 as a credit to buyers for their 3.5% downpayment. (of course there are some income qualifications, etc)
Here are some other ways you CAN obtain the 3.5% … (2 comments)
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usda home loans johnston county: USDA - The OTHER 100% Loan - 03/31/08 05:02 PM
USDA loans are great for people in Wake County! This 100% loan has some exciting differences to FHA and VA loans.
USDA loans can be used for Manufactured Housing! Since more than 35% of all housing in North Carolina is manufactured housing, this is a BIG PLUS!
USDA loans have Minimum Credit Requirements and will allow borrowers to use non-traditional credit!
The only "tricky" things to consider about USDA loans is that they have some "quirky" requirements. In order to qualify for a USDA the property must be in a qualified area, the borrowers must meet the maximum income limits for … (13 comments)
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans
Cary,
NC
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Steve Thorne NC Mortgage Experts
Address: 111 Corning Road, Suite 230, Cary, NC, 27518
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