This comes shortly after Congress recessed for spring break without resolving this critical issue. Earlier today, it was announced that yesterday, Rep. Shelley Moore Capito, R-W.VA, introduced new legislation regarding the continued funding for USDA loans.
Washington-Rep. Shelley Moore Capito, R-W.Va., the Ranking Republican Member of the House Financial Services Subcommittee on Housing and Community Opportunity, yesterday introduced legislation in the House Financial Services Committee to shore up funds for the U.S. Department of Agriculture 502 Rural Housing loan guarantee program. Capito's bill, H.R. 5003, The Rural Housing Improvement Act, would ensure that responsible families in rural communities continue to have access to the credit market to finance their homes.
"I have received hundreds of letters, emails and calls from my constituents, including home buyers and sellers, who are concerned that the 502 loan guarantee program will soon run out of funds," said Capito. "My legislation would continue to assist thousands of responsible, low to moderate income West Virginians who otherwise wouldn't have access to home ownership."
It is still very important that everyone contact their representatives regarding USDA funds.
It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace. I am committed, qualified and equipped to help you evaluate your options!
Also check out:
Conventional Financing Mortgage Program Overview/Updates
FHA Financing Mortgage Program Overview/Updates
Georgia Dream Down Payment Assistance Program Overview/Updates
HomePath Financing Mortgage Program Overview/Updates
USDA Financing Mortgage Program Updates
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