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USDA Has $11.2 Billion to Guarantee No-Down Mortgages

By
Real Estate Agent with Chris Ellise Realty

The U.S. Department of Agriculture has only two months to spend $11.2 billion on its no-down payment rural development loan program, a record amount at this juncture in the federal fiscal year for the program that provides no-down payment mortgagesto borrowers in rural and suburban markets.

Usually by August, the program—which has become extraordinarily popular since the demise of private no-down financing—runs out of money and applications are put on hold until more money becomes available with the beginning of a new federal fiscal year on October 1.

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Reggie Woodgett and The Woodgett Group specialize in loan modifications and short sales in Nashville Tennessee. Nashville Loan Modification Help. Nashville Short Sales. Nashville Short Sale Realtor. Nashville TN Short Sales. Nashville Realtor.

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Reggie Woodgett CDPE, CIAS, RDCPRo, FORCE, HRC, LMC

REO Marketing Director

REMAX Elite

109 Westpark Dr

Suite 100

Brentwood Tennessee 37027

www.EliteNashvilleTNHomes.com

Reggie With Keys

 

 

James Loftis
RealEstate911.com - West Palm Beach, FL
RealEstate911.com

Interesting article, thanks for sharing.

Aug 18, 2011 03:18 AM