usda loans 100 financing: USDA Rural Housing Loans--will they live or DIE? - 04/25/10 06:12 AM
Without Congressional Action, USDA 502 Rural Housing Program Will Run Out of Funding Within Days
H.R 5017 introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, has passed the House and awaits the Senate vote. Senator Barney Frank has personally advised members of the USDA lobby (unpaid industry people like you and me) that he will see this bill makes it to the Senate Floor before the end of the Month. Immediate approval is necessary or the Banks funding USDA loans will literally run out of funds … (6 comments)

usda loans 100 financing: USDA Rural Housing Loans ON THE BUDGET BLOCK!!! - 04/22/10 04:52 AM
Every year, the USDA Rural Housing Loan program is re-funded through a budgetary approval process. And every year we get notices it's about to expire or a particular lender's reserved funds have run out, but like clockwork these funds have been restored.
Given the BUDGET CUTTING PARTY on the hill --Congressional budget cuts may kill it again!
UPDATE 2/10/2011:I first reported this in August 2010. The program comes up for budget review every year. Right now our key USDA lender advises they 'have unlimited funds'. Not all lenders who do a few USDA loans reserve sufficient funds for their own needs so you need … (27 comments)

usda loans 100 financing: Take me back, COUNTRY HOME! - 04/11/09 10:57 AM
HOT RURAL NEWS: New Country Home Loans for Hobby Farms: To date, the upside down value of land to homes in our area (due to high land values) have made funding a small hobby farm or home on acreage prohibitive. The rural, laid back beauty of our region has drawn many folks here for their 'patch of green' to grow a few apples or lavenders or just elbow room and a few horses. We've been hard pressed to find lenders for properties over 5 acres. At last we have some new options for home owners who intend to use their land for appropriate uses in rural zoned areas. … (2 comments)

usda loans 100 financing: Rural Condos MISUNDERESTIMATED!!!! - 02/14/09 09:38 AM
RURAL CONDOS?  It recently dawned on me that the very folks seeking affordable housing in our tri county area would be best served by our USRDA Rural program. This 102% (yes 102%) government subsidized loan program is designed for buyers who have not owned in the last 3 years, who can document sufficient income (41% DTI) and fall under a median average income cap (1-4 persons up to $70,750 annual income in non high cost counties). Credit standards somewhat flexible.
The great boon of this program is that the seller can contribute to the buyer's needs as long as the transaction makes sense and the … (1 comments)

 
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Susan Templeton

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