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usda: USDA Rural Development - 12/01/09 03:51 PM
USDA Rural Development is a fantastic avenue for to obtaining a mortgage in the United States.  Guaranteed Rural Housing Loans allow a home buyer to finance up to 102% of the appraised value, pay NO Private Mortgage Insurance (PMI), and have the lowest possible payment for a 30 year fixed rate mortgage!
USDA Rural Development Benefits:      
Loan-to-Value:  Can finance up to 102% of appraised value. Guarantee Fee:  One time fee of 2% of the loan amount.  It is usually financed. Cash to Close:  Very little or zero cash needed to close in most cases, no minimum contributions. Mortgage Insurance:  NONE … (0 comments)

usda: USDA Rural Housing History - 10/28/09 12:11 PM
USDA Rural Housing History shows this government insured home loan program has had great success over the last 60 years and is gaining in popularity. 
In 1949, USDA's telecommunications loan program was established to provide telephone service to rural America. At the time, only one in three farms had access to telephone service. As it did with the rural electrification program, the Telephone Loan Program revolutionized the lives of millions of rural families and businesses by providing connectivity, access to emergency services and business activities that fueled economic growth. Today, Rural Utilities Service (formerly REA), provides loans and grants for … (0 comments)

usda: USDA Rural Housing Loans are running out of money! Now what? - 10/22/09 04:25 PM
USDA Rural Housing Loans are running out of money!  Now what?
  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 CR.  Once the bill is signed into law a lapse of three to four weeks occurs before program levels receive funds under the bill from the Office of Management and Budget (OMB).   Due to a high demand for purchase funds, it is anticipated CR and FY 2009 carryover funds for PURCHASE transactions … (1 comments)

 


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