USDA Funds Likely to last through the second half of May

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Mortgage and Lending with Ruoff Home Mortgage 234777

The run of securing funds for USDA Section 502 loans has been a little slower than initially anticipated. Below is a snapshot of a bulletin that I received this week from one of our Investors. They have been tracking this as closely as anyone and their best guesstimate at this toime is that USDA funds will last into the 3rd or 4th week of May. Hopefully Congress will not let this program stall in the middle of this long housing recovery.

 USDA Funds allotted

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Greg Miller   
Mortgage Loan Originator 
NMLS # 234777
www.Ruoff.com
gregm@ruoff.com

941-552-9989


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Rainer
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Mike Wilbur
Guild Mortgage Company and Oregon Homes For Heroes - Salem, OR

We've been tracking this also and noticed the slow down but are still gun shy about suggesting a customer try for the commitment at this point.

Apr 09, 2010 03:01 PM #1
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Rainmaker
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Greg Miller

Florida Home Loans - Conventional,FHA,USDA,VA
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