USDA Rural Development Loans in Maryland are now being funded (by some lenders.) I have 
been telling a lot of agents in my area (Southern Maryland) that Envoy Mortgage is funding USDA Rural Development Loans in Maryland and I have run into a lot of skepticism. Without providing the HUD-1 Let me tell you that you that its true!
I closed a USDA Rural Development Loan on June 24th and have two settlements scheduled for tomorrow. I realize that USDA Rural Development has not officially been funded. If you want to keep track of the funding, keep an eye on The Library Of Congress H.R. 5017 Rural Housing Preservation and Stabilization Act of 2010.
If you are not familiar with USDA Rural Development Loans in Maryland you need to be! Why? Its 100% financing home loan with 0% down and the qualifications are straight forward.
- You household incomes must be 115% of the median income for the area (92k for 1-4 people 122k for 5-8 people for Southern Maryland)
- Minimum 620 credit score
- The home must be located within the location guidelines (The majority of Maryland is covered!)
- Only 30 year fixed rates
So if you or someone you know is interested in learning more about USDA Rural Development Loans in Maryland please contact me at 443-624-9398 or brianmayer7@gmail.com I can tell you if the home you are considering is in an eligible area and if this program is right for you.
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