$14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers

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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!

$14 Billion remains for fiscal year 2011

As of June 15, 2011:

TOTAL $ OBLIGATED:      $9.96 BILLION

TOTAL # LOANS:                 78,075  

OVER $14 BILLION REMAINS TO

SERVE RURAL HOMEBUYERS! 

Comments

  1. […] $14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers (theraleighmortgageguy.com) […]

  2. 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

  3. I have several clients who are trying to pursue this great product! Thanks for posting. Do you mind if I reblog?

    1. 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