$14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers
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 HOMEBUYING 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 downpayment 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!
Related articles
- $24 Billion Dollars Allocated for Guaranteed Loans! (theraleighmortgageguy.com)
- USDA Lending Tip; Eligible Homes Locator Map (theraleighmortgageguy.com)
Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183
Ricardo thank you for helping to make Triangle area home buyers aware of this option. This is such a fantastic option for many people and you’d be surprised at how many homes some of the loans apply to. There are many homes in areas and neighborhoods such as Heritage Wake Forest that may qualify for these programs. I recently helped a family purchase their first home using a USDA 100% financing loan!
Marc Iafrate, MBA
Capital City Real Estate Group – Keller Williams Realty
(919) 886-7355
I have several clients who are trying to pursue this great product! Thanks for posting. Do you mind if I reblog?
Please do! The more people to know the better because as you know this program changes significantly October 1st when they begin to charge monthly PMI