washington state rural housing: USDA- Rural Housing "Out of Funds" - 07/13/10 07:54 AM
Garanteed Rural Housing is unable to issue Loan Note Guarantees until Congress restores the funding authority (I have not heard when this will be) Once funding is restored on these loans, there are two possible scenarios:
•1.        The funding fee will remain at the present Congressionally authorized rate of 2%; in which case the lender will have to apply the difference to the principal; or
•2.       The funding fee will be increased to 3.5% as proposed in present legislation.
 
Thank you,
 
Heather Burns
Home Mortgage Consultant
Guild Mortgage Company
425-945-8035 Office
206-714-3522 Cell
206-577-2901 Efax
hburns@guildmortgage.net
 
Apply Online: http://www.guildmortgage.net/heatherburns
(3 comments)

washington state rural housing: USDA- Running out of funds? - 03/12/10 07:51 AM
USDA has indicated they will be "out of funds" by April 30th, 2010. At this time we are unsure of the status of the program.
If this program is important to you and your borrowers it has been advised that you make contact with the following offices to express your concern over the lack of funding for this program.
Secretary of Agriculture: Tim Vilsack  202-720-3631
Undersecretary of Agriculture: Dallas Tonsager  202-720-4581

 Thank you!
Heather Burns
Home Mortgage Consultant
Guild Mortgage Company
425-945-8035 Office
206-714-3522 Cell
hburns@guildmortgage.net
 
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Heather Burns

Kirkland, WA

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Guild Mortgage Company

Address: 150 120th Ave NE STE #200, Bellevue, WA, 98005

Office: (425) 945-8035

Mobile: (206) 714-3522



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