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IMPORTANT NEWS for 1st Time Homebuyers Using USDA Rural Loans!

Reblogger Chris Minion
Real Estate Agent with O'Brien Realty

Sam Miller's post is an extremely important news alert for First Time Homebuyers using USDA Rural Development Financing.  It is very likely that the USDA will have exhausted all funds for home loans by the end of April, 2010.  Homebuyers need to act quickly before funding runs out!  Read Sam's post to find out more.....

Original content by Sam Miller

According to the United States Department of Agricultural (USDA) it is very likely that the USDA will have exhausted all funds available for single family home loans by the end of April, 2010.  This should create tremendous urgency for homebuyers to select their dream home and get a home under contract and closed before these funds for these loans run out next month.  The following quote is from a letter that was sent to all participating lenders who utilize the USDA Rural Development Loan Program:  

Once funding is exhausted, the Agency will not issue Condition Commitments subject to receipt of approproate funds.  This is because it is not certain when additional funding will be available."  For more details about what this could mean to you as a homebuyer, visit my USDA Rural Development announcement summary.  

 

Sam Miller

 

 


 

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Elva Branson-Lee
Solid Source Realty GA - Atlanta, GA
CDPE - Atlanta Real Estate & Short Sale Agent

I didn;t know this. This is important news for buyers in the largely rural areas I serve just south of Atlanta. I'm going to do some research and then use my localism blog to spread this news. Thanks, Chris, for the heads up.

Mar 10, 2010 02:42 PM
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Chris.. This is *very* important information, and I'm glad you wrote a post on it.  This needs to get out to all first time home buyers/buyers in general.

valerie osterhoudt

Mar 10, 2010 11:54 PM
Chris Minion
O'Brien Realty - Lexington Park, MD

Hello Elva,

It will certainly affect the majority of our area that we serve.  If you are working with buyers that are obtaining Rural Development loans, they need to act quickly or they could lose out.  Thanks for visiting!  Have a great weekend!

Chris

 

Mar 12, 2010 01:07 PM
Chris Minion
O'Brien Realty - Lexington Park, MD

Hello Valerie,

We had received word from several local lenders recently via email and when I read Sam Miller's  post, it was an excellent article to re-blog.  Thank you for stopping by & taking the time to comment. Hoping you have a wonderful weekend!

Chris

 

Mar 12, 2010 01:10 PM
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