rural development loans: USDA Rural Development loans are NOT out of money, and other important facts… - 09/29/09 05:37 PM
Last Friday the USDA formally announced it was entering its annual "roll over" of funding as of its new fiscal year October 1st. This mainly administrative action results in USDA's funding being delayed until it's made available through the General Accounting Office (GAO). This by no means indicates the USDA … (35 comments)
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rural development loans: Pace of Home sales spikes up for June in Lake County, FL - 07/16/09 08:35 AM
The typically busy spring home buying season has sprung in Lake County which surpassed the 300 unit per month threshold topping out at 317 for the month of June, '09 as reported by the National Association of Realtors. Prior to this April had seen the best sales so far … (2 comments)
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rural development loans: USDA appraisal requirements changing July 01, 2009 - 06/26/09 03:37 PM
The last holdout- USDA- will be requiring the 1004MC addendum to the appraisal on all Rural Development loans effective July 1, 2009. Up to now they were the only loan program to not require it so the news certainly doesn't come as a surprise.
The memo from USDA states files … (3 comments)
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rural development loans: USDA Rural Development funds for refi’s and pools is in! - 04/24/09 06:37 PM
Today the USDA announced it regular allocation of funding had been credited is now available for use. These are the funds that can be used to guarantee refinance loans (you can only refinance a current Rural Development loan) and homes with pools.
Remember pools still require a special exception … (2 comments)
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rural development loans: USDA income limits change April 20, 2009 for Lake County - 04/10/09 07:19 AM
It's been confirmed! The income limits in Lake County (and the entire Orlando area) for USDA Guaranteed Rural Development loans will go up to $70,750 for households from 1-4 persons and $92,400 for households from 5-8 persons. No false start anymore folks. We can start taking and processing applications … (0 comments)
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rural development loans: Rural Development loans not jumping on the appraisal change bandwagon - 04/07/09 03:10 PM
I just confirmed that the USDA will not be requiring the new 1004MC form for their appraisals. This in spite of the fact that Fannie and Freddie, FHA/HUD and the VA are requiring them. That effectively makes RD loans the only ones NOT requiring this additional info.
Coupled with the fact you … (0 comments)
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rural development loans: USDA Rural Development loans no longer accepting ANY pools?-updated 04/08/09 - 04/06/09 06:35 PM
Those who know me know I don't usually repeat hearsay. I like to confirm things beyond a shadow of a doubt before writing about it but this is just too important not to share.
I heard from a reliable source today that because of some wording in the new funding … (8 comments)
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rural development loans: Latest update on availability of funds for Rural Development loans - 02/26/09 10:12 AM
Pursuant to my sources at the USDA it will be taking about another two weeks for the funding allocated by the recent economic stimulus bill to trickle down to retail levels. For those who are seeking a Guaranteed Rural Development loan from a lender such as myself, this should not … (7 comments)
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rural development loans: The $8000 First Time Buyer’s Tax Credit- what are you going to do about it? - 02/18/09 08:49 AM
OK, Obama signed it yesterday making it law. All of us in the industry wanted more and feel the economic stimulus package passed us by, for the most part. Yea, we got more money for RD loans and don't think the higher FHA loan limits is insignificant; but we needed more. … (5 comments)
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rural development loans: Part 2- Economic Stimulus Package can be law by as early as next week. What does it mean for us? - 02/13/09 12:13 PM
It's Friday the 13th and Jason is walking the hallowed halls of Congress making laws I personally hope we don't come to regret. We have all heard many conflicting reports on this legislation but sketchy details have been confirmed. What does it all mean to us and our industry?
As of … (9 comments)
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rural development loans: Economic Stimulus Package can be law by as early as next week. What does it mean for us? - 02/11/09 08:16 PM
IF YOU ARE FOLLOWING THIS POST PLEASE LINK OVER TO PART 2 HERE FOR AN UPDATE
NEW UPDATE-as of 10a EST, 02/13/09- It is Friday the 13th and some very scary things may be happening today. The summary is available and basically confirms what we have been hearing in the … (39 comments)
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rural development loans: Breaking news- Rural Development income limits are NOT changing on January 20th! - 01/14/09 08:22 AM
We have all been anticipating changes in the income guidelines for RD loans to be increased, however today the USDA announced it will not be making those changes until at least March 20, 2009. The changes would allow families from 1 to 4 members to qualify at the 4 person … (0 comments)
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rural development loans: RD loans no longer underutilized...latest info on program funding - 01/06/09 07:55 AM
The USDA sent out a notice regarding availability of funds yesterday and estimating funding for the current period would be exhausted by January 9, 2009 "if not sooner". They site demand at historic highs as the reason for the shortfall, and this comes as no surprise to those of us that … (7 comments)
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rural development loans: One of our own is quoted in the Wall Street Journal! - 12/16/08 09:28 AM
USDA Rural Development loan expert Sue Botelho was quoted in an excellent article regarding the increased popularity of RD loans in the Wall Street Journal today. Sue has done a great job getting word out regarding the strengths of the program and its zero down features. Congratulations Sue!
The … (6 comments)
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rural development loans: It’s a good time to buy a home in Lake County, Florida! - 12/08/08 08:17 PM
The most recent sales statistics for Lake County, Florida confirm what we all know, that buying a home is getting much more affordable. With home prices declining better deals are being had by those willing to go after them. October sales increased 5.5% over September and of the single … (0 comments)
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rural development loans: The beauty of buying a new home in central Florida! - 12/01/08 07:35 PM
I was reminded how good it is to be a mortgage lender yesterday when I had the fortune of helping a young couple, married only two and half years, achieve their dream.
They came to me looking to buy and not knowing if they could. "Our credit is good" they … (0 comments)
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rural development loans: Why we are all still in this business. - 11/21/08 12:41 PM
I was reminded how good it is to be a mortgage lender yesterday when I had the fortune of helping a young couple, married only two and half years, achieve their dream.
They came into one of my Realtor's offices looking to buy and not knowing if they could. "Our … (14 comments)
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rural development loans: 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 … (10 comments)
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rural development loans: 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 … (2 comments)
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