USDA announced yesterday that they have enough money to fund their Single Family Housing Guaranteed Loan Program through the rest of this fiscal year. USDA fiscal year 2011 ends on September 30, 2011. Unlike other years when USDA ran out of money and had to shut this popular program down, this year will have no interruption in funding.
Quoting USDA August 4th news release: “While program demand and volume have heated up with the summer temperatures, ample funding remains available! Homebuyers have no obstacles to funding for fiscal year 2011!”
USDA had allocated $24 billion dollars for this fiscal year and to date they have obligated $12.8 billion. This represents 100,075 loans
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Call Shay Campbell a licensed Loan Officer, NMLS# 46083 and LO5 designation, located in the Triangle area of NC, which includes Raleigh, Cary, Durham, Chapel Hill, Apex, Holly Springs, RTP and the counties of Wake, Durham, Johnston, Chatham and Orange. Shay has over 12 years of experience and can assist you with FHA, VA, USDA, NCHFA and conventional loans. Shay can be contacted at 919-624-8614 shay@shaycampbellmortgage.com or visit his website shaycampbellmortgage.com.
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