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USDA Rural Development Loan Program Update

By
Real Estate Agent with Long & Foster Real Estate, Inc

Country HomeUSDA Rural Development Loan Program funding is close to being exhausted.

This is a quick update from our Lenders that I wanted to pass on.  (The USDA Rural Development Loan Program is not available in Delaware County but it does become applicable as you move further into Chester and Montgomery counties.)

On March 9, the United States Department of Agriculture Rural Development (RD) announced that program funding for the Single Family Housing Guaranteed Loan Program (SFHGLP) will likely be exhausted by the end of April.  With this in mind, some lenders are already no longer accepting USDA Rural Development Loan Applications effective immediately.

As always, if you have any questions or need any additional information, please do not hesitate to let me know.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

Comments(3)

Sukhdev Farmah
Triangle Lending Group - Morrisville, NC

same in north carolina many lenders are not acepting USDA applications.

Mar 18, 2010 02:35 PM
Liz Flint
Century 21 Hardee-Team Realty - Houston, TX
Houston\Tomball Realtor (832)816-8066

Hey David, we have USDA loans down here in the more rural areas.  Almost had a client use it, but she backed out of the deal.

Mar 18, 2010 02:44 PM
David Henke
Long & Foster Real Estate, Inc - Newtown Square, PA
Realtor, Homes Just West of Philadelphia PA

Due to limited property eligibilty, it is not as popular in this area, but it is a great match for some properties.

Mar 19, 2010 04:04 PM