usda funding: Fiscal Year 2011 Funding for the USDA Guaranteed Rural Housing Program - 10/05/10 03:43 PM
Fiscal Year 2011 Funding for the USDA Guaranteed Rural Housing Program
October 1st, 2010 marked the beginning of Fiscal Year 2011 for USDA Rural Development.  Traditionally, when a new fiscal year begins there is a brief delay in available funding.  Such is the case this year, as USDA Rural Development awaits confirmation of funding.  During this time, USDA will continue to accept and review new loan applications for purchase transactions and issue modified loan approvals referencing that the approval are "subject to the availability of congressionally appropriated funds". 
HomeStar Financial Corporation is the largest producer of USDA Guaranteed Rural Development loans in … (6 comments)

usda funding: Funding Restored for the USDA Guaranteed Rural Development Program - 09/08/10 10:51 AM
Funding Restored for the USDA Guaranteed Rural Development Program
Effective September 8, 2010, USDA Rural Development has announced that the Agency has completed all system enhancements to support the newly legislated guarantee fee of 3.5% and that funding for the USDA Guaranteed Rural Housing (GRH) Program has been fully restored.    

If you would like further information about the USDA Rural Development Program, then your first step should be to call a HomeStar Financial Corporation Mortgage Professional at 404-597-5662.  HomeStar Financial Corporation, a Nationally Approved USDA lender is the #1 USDA Lender in Georgia!
     
Jeff Wilmoth | HomeStar Financial … (2 comments)

usda funding: Funding Update for the USDA Guaranteed Rural Housing Program "When will we have more USDA funding." - 05/10/10 12:38 PM
Many industry professionals have asked "When will we have more USDA funding."  
Nationwide available funding was at about 600 million as of May 4th, 2010.  As of May 7th, there were approximately $328 million in remaining funds available for purchase transactions.  Currently funds are being exhausted at a rate of approximately 90 million per day.  This means we may have funds for 4 to 5 more days as of May 7th, 2010.
At the state level, Georgia only had 2 million remaining at the end of May 4th, 2010.  Georgia will possibly receive additional funding if there are available funds from … (4 comments)

usda funding: Funding Update for the USDA Guaranteed Rural Housing Program - 04/28/10 10:37 AM
Rural Housing Preservation and Stabilization Act of 2010

Yesterday April 27th, 2010, the U.S. House of Representatives passed the Rural Housing Preservation and Stabilization Act of 2010 (H.R. 5017) by a vote of 352-62 to ensure that families in rural communities continue to have access to much-needed affordable mortgages at no cost to the taxpayers.  Through this legislation, the guarantee fee in the USDA Guaranteed Rural Housing (GRH) Program may be raised to offset any need for Congressional appropriations.  H.R. 5017 would raise the cap on the amount of the annual premium that is charged to borrowers under the single-family … (5 comments)

usda funding: April 22, 2010 USDA Funding Update - 04/22/10 06:22 PM
YIPPEE!!! H.R. 5017 PASSES IN COMMITTEE!!!
Folks, it appears the political wheels are finally turning in favor for the USDA Rural Housing Program! 
Today, the House Financial Services Committee unanimously passed H.R. 5017, better known as the Rural Housing Preservation and Stabilization Act of 2010. 
What this bill proposes is a complete resolution to the current funding shortage surrounding the USDA Rural Housing Program by allowing the program to pay for itself, rather than rely on federal funding to allow the continued access of the program for potential homebuyers.  In order to pay for the program, lenders could pay up to a … (0 comments)

usda funding: USDA Funding (continued)... - 03/17/10 09:20 PM
Recently USDA announced concerns regarding the availability of funds for fiscal year 2010 and that funding will likely be exhausted by the end of April 2010. According to Chase Rural Housing Services, the remaining funds for purchase transactions for the USDA Guaranteed Rural Housing Program, effective March 15, 2010 are 3.9 Billion dollars.
Rest assured, once a loan has been approved by USDA, the loan will not be affected by the lack of funds.  When USDA approves a loan they issue what is termed a Conditional Commitment (RD Form 1980-18). The Conditional Commitments are issued for a period of 90 days, so … (6 comments)

 
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Jeff Wilmoth

Newnan, GA

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Address: 848 Jesse Jewell Pkwy , Gainesville, GA, 30501

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