The Single Family Housing Guaranteed Loan Program (USDA Loans) will likely be exhausted by the end of April, 2010. This is a message that was delivered from the National Office in Washington D.C. as of today.
It was then stated that once funding is exhausted, the Agency will not issue Conditional Commitments “subject to receipt of appropriated funds.” This is because the agency is not certain when additional funding will be available. And this might not be known until October, when the new budget comes out. This is important to … (14 comments)
rural development loans: USDA Loans - The Rural Housing Loan - The Basics
- 04/18/09 11:33 AM
USDA loans in many areas are becoming more popular, yet many loan officers still don't know much about them, hence why they still aren't talked about much. Just as FHA loansweren't used as much as they should have from 2000 - 2006, because subprime and some conventional loans were easier for the loan officer to give to the consumer, even though it might not have been the best loan for them. I am sure in some cases, FHA loans are given before the USDA loan because of the lack of education on the loan officers part.... just my .02.
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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