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usda loans: 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)

usda loans: USDA "Officially" increases income limits for purchase and refinance loans! - 04/19/09 10:44 PM
Tomorrow, April 20th, is the day that the U.S Department of Agriculture increases its maximum income requirements to qualify for Rural Development Guaranteed home loan program.  This increase is long over due.  Technically, USDA is at least a month late in the increase. 
The new income limit will allow so many for buyers of primary residences the ability to qualify for a USDA insured home loan.  Currently, the income requirements are structured on a "per member" household.  Tomorrow, Monday, April 20th, the income limits will be transformed into a two-tier system.
For borrowers that are looking to purchase a primary residence, … (1 comments)

usda loans: Here is a great way to fix the real estate industry!!! - 12/16/08 07:42 PM
Exactly a week ago, I read an article USA Today posted by the concerned citizen Dennis F. Paulaha.  He makes one of the greatest points and offered an incredible solution to halt our downward spiraling economy. 
His idea states that the US government offer every US citizen a 30-year fixed rate mortgage of 1.5%.  All financially qualified (new standards) citizens could have the ability to finance a current or new mortgage at this low interest rate.  Currently, the government is lending billions of dollars to firm across the country at low interest rates.  Why not lend it to the people.
Paulaha believes … (0 comments)

usda loans: Mortgage Rates hit the best levels of the year! - 12/10/08 03:01 PM
Today, the mortgage market has done nothing but improve.  Currently, our rates are hovering around 4.875%. 
FHA - 5%
USDA - 5.375%
Conventional - 4.875%
 
… (3 comments)

usda loans: Eligible areas for USDA loans - 11/18/08 11:15 AM
Follow this link to see the Georgia areas of eligibility.  The majority of the state is eligible except for the largers cities and most of metro Atlanta.  The lighter areas are eligible for 100% financing.
http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do?pageAction=countyMap&state=GA&st=13&cnty=023&mapname=GA_S&propertytype=#form.PropertyType
You can also visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do to select your state.  If you or your client would like or needs affordable financing, then consider USDA loans and contact the southeast's USDA loan expert.
Justin Messer
… (0 comments)

usda loans: Eligible areas for USDA loans - 11/18/08 11:08 AM
Follow this link to see the Georgia areas of eligibility.  The majority of the state is eligible except for the largers cities and most of metro Atlanta.  The lighter areas are eligible for 100% financing.
http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do?pageAction=countyMap&state=GA&st=13&cnty=023&mapname=GA_S&propertytype=#form.PropertyType
You can also visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do to select your state.  If you or your client would like or needs affordable financing, then consider USDA loans and contact the southeast's USDA loan expert.
Justin Messer
… (0 comments)

 


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