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florida: USDA Rural Development loans expecting to run out of funds by late next month - 03/11/10 09:57 AM
 
Updated information- Check it out below
I normally hate titles that are meant to scare people into reading but unfortunately this time there is no exaggeration to the severity of the issue. USDA Guaranteed Rural Development loans, one of the best low/no down payment financing programs left, has recently announced they expect to be out of the funds they use to guarantee loans by late April. If no action is taken by Congress to re-appropriate more funds then it will be the next budget year, after October, before we have this financing option again.
But the Tax Credit deadline is looming
… (46 comments)

florida: Well is the First Time Buyer Tax Credit getting extended? - 10/02/09 10:24 AM
Where are we going with this Tax Credit?

There is a lot of talk about whether THE Tax Credit will be extended or even expanded these days. I wrote a post that explained the state of affairs a few days ago but since then I've heard everything imaginable on the topic, so it's time for an update.
Again, let's start with the facts. We still have a bunch bills although a new one was introduced in the Senate (see text here) and is beginning its quest to become law. Essentially little else has happened on the forefront of the Tax … (2 comments)

florida: More GREAT news if you want to purchase a home in Lake County, FL! - 11/07/08 12:39 PM

Upcoming changes in the Rural Development loan program should allow more families to qualify with ZERO down and ZERO closing costs! The income restrictions are expected to ease, allowing households from 1 to 4 family members to make over $70,000/yr and still qualify. Households having 5 to 8 family members would actually be able to qualify even if they make over $92,000/yr! These are substantial increases so if you were told you made too much to qualify for an RD loan, please look again!
This coupled with the fact that every home in Lake County is in the eligible area … (10 comments)

florida: More GREAT news if you want to purchase a home in Eustis, FL! - 11/07/08 12:33 PM
 

Upcoming changes in the Rural Development loan program should allow more families to qualify with ZERO down and ZERO closing costs! The income restrictions are expected to ease, allowing households from 1to 4 family members to make over $70,000/yr and still qualify. Households having 5 to 8 family members would actually be able to qualify even if they make over $92,000/yr! These are substantial increases so if you were told you made too much to qualify for an RD loan, please look again!
This coupled with the fact that every home in Eustis is in the eligible area will … (2 comments)

florida: More GREAT news if you want to purchase a home in Mount Dora, FL! - 11/07/08 12:26 PM
 

Upcoming changes in the Rural Development loan program should allow more families to qualify with ZERO down and ZERO closing costs! The income restrictions are expected to ease, allowing households from 1to 4 family members to make over $70,000/yr and still qualify. Households having 5 to 8 family members would actually be able to qualify even if they make over $92,000/yr! These are substantial increases so if you were told you made too much to qualify for an RD loan, please look again!
This coupled with the fact that every home in Mount Dora is in the eligible area … (2 comments)

 
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Gerry Suarez Jr- Your FHA Loan Pro!

Mount Dora, FL

More about me…

Mortgage Financial Group, Inc.

Address: 725 E. Alfred St, Tavares, FL, 32778

Office Phone: (352) 742-7900

Cell Phone: (352) 516-9884

Email Me

Local information regarding Mortgage lending in Central Florida including Orange, Seminole, Osceola, Lake, Volusia and Marion Counties. Also providing up to date information on HUD and government loan programs, and first time buyer programs. I'm required to tell you I'm not acting on behalf of HUD/FHA or the US Government!


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