All articles in USDA Rural Development Loans

Under Contract & House Has Been Damaged; Now What?

There’s an old adage He Who Has the Gold Makes the Rules aka ‘ The Other Golden Rule’. Nothing could be further from the truth in this scenario so the best answer here is ‘It depends’.

USDA has updated its Income Limits for Raleigh-Cary 2014!

The 2014 Income Limits for the very popular no money down USDA Single Family Guaranteed Loan Program were published on February 12, 2014.  The Guaranteed Underwriting System and the Income Eligibility calculator in the Eligibility website have been updated to use the new income limits. Continue reading USDA has updated its Income Limits for Raleigh-Cary 2014!

Discussing USDA Rural Development Loans With Edwin Argueta The Force Realty

In this Google Hangout we discuss the recent changes to the USDA Rural Development Loan Program

Raleigh Area First Time Home Buyers find help in the 2014 Farm Bill

Some of the biggest talking points coming  out of the $956 Billion 2014 Farm Bill is that Food Stamps were cut by $900M per year, it ends a two decades old  Direct Payments to farmers at a savings of $5B per year and even includes funding for Hemp (marijuana) research.

But what most people are unaware of is that in a rare act of bi-partisan behavior, both sides of the aisle agreed that it was in the best interest of the overall economy to retain the pre-2010 USDA Guaranteed Rural Development Housing Maps until 2020. Continue reading Raleigh Area First Time Home Buyers find help in the 2014 Farm Bill

Congress Approves Funding for USDA Rural Development Loans in Raleigh for FY2014!

With all the hoopla and political grand standing coming out of Washington DC, it is nice to see that on … More Congress Approves Funding for USDA Rural Development Loans in Raleigh for FY2014!

FAQ – The Government has reopened, for now; how is my mortgage affected?

After a 15 day government shutdown that seems to have accomplished little else  except forcing the federal government to admit they have to create a budget and soon, the Fed has opened for business. So now what? 

Internal Revenue Service

The IRS has already resumed processing the IRS Request for Transcript of Tax Return (4506t), a requirement of all loans today. The IRS has also resumed processing audits (joy).

Conventional, FHA Loans & VA Loans
As stated in a previous post, most Conventional, FHA Loans & VA Loans loans were not impacted by the government shutdown except for as stated above. Continue reading FAQ – The Government has reopened, for now; how is my mortgage affected?

FAQ – How Will a Government Shut-down Delay My Mortgage Loan Application?

faqThere’s been a lot of rhetoric coming from both sides of the congressional aisles these days; from Democratic and Republican parties and even a few in between. But  recently the media has begun reporting government shutdown fallacies as facts. I’ve stayed out of this very heated political discussion for obvious reasons, but when a client recently sent me this article Shutdown impact: Tourists, homebuyers hit quickly from of all places the Associated Press, I just had to respond.

Answer(s)

Continue reading FAQ – How Will a Government Shut-down Delay My Mortgage Loan Application?

How to get a No Money Down USDA mortgage loan in Raleigh

 

Logo of the USDA Rural Development office, par...
Logo of the USDA Rural Development office, part of the Department of Agriculture. (Photo credit: Wikipedia)

 


What is a USDA Rural Development Loan?

Section 502 loans are primarily used to help low to moderate income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

In Wake County North Carolina most areas outside city limits are eligible for financing and the 2013 income limits for a household of 4 is $91,850! Continue reading How to get a No Money Down USDA mortgage loan in Raleigh