This is a repost from The Raleigh Mortgage Guy. Please see another related blog from him at the bottom of this post.
USDA RURAL DEVELOPMENT GUARANTEED RURAL HOUSING NEWS
From the National Office in Washington DC
June 15, 2011
GUARANTEED LOAN FUNDING UPDATE: SUMMER SIZZLES!
GUARANTEED LOAN VOLUME UP! PLENTY OF FUNDING AVAILABLE!
The Single Family Housing Guaranteed Loan Program (SFHGLP) has $24 billion dollars of funding available for lenders, but it will expire on September 30, 2011!
SUMMER TIME IS HOME-BUYING TIME! When temperatures rise, homebuyers arrive! Summer is a perfect time to buy a new home! Guaranteed loans offer eligible rural homebuyers tremendous benefits including, no down-payment required, flexible credit and qualifying ratios, and fixed thirty year interest rates.
SHOP WITH CONFIDENCE! Congress has ensured ample guaranteed loan funding will be available throughout FY 2011!
As of June 15, 2011:
TOTAL $ OBLIGATED: $9.96 BILLION
TOTAL # LOANS: 78,075
OVER $14 BILLION REMAINS TO
SERVE RURAL HOMEBUYERS!
- $24 Billion Dollars Allocated for Guaranteed Loans! (theraleighmortgageguy.com)
Thanks for reading. Interested? More information? Contact me today!