As you know the USDA Rural Housing loan is a fantastic loan product for rural areas like Gettysburg, PA. It's come out this week that the USDA has run out of funding already and typically isn't refunded until October (beginning of the USDA fiscal year).
My lender said that she spoke to someone who works for HUD and it's sounded like there is a good chance the USDA will be refunded prior to October.
Keep your fingers crossed. This loan provides a lot of people the opportunity to buy with no money down and with no PMI. If you're debt to income ratios are low enough and your credit is good you can't beat this loan. The fact that they've run out of funding this early in the year shows how valuable this product is to our economic recovery.
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