June 10, 2010

USDA Funding Update!

USDA Rural Housing Funding Update

USDA Mortgage Online is pleased to announce that USDA Rural Development has authorized the issuance of Conditional Commitments for the Single Family Housing Guaranteed Loan Program so we can continue to close and fund USDA Mortgages even though funds for Fiscal Year 2010 are exhausted.

We are closing and funding new USDA Mortgages while everyone else waits for more money to be appropriated to the Rural Development program! If you thought you missed out on buying a home with a USDA Mortgage, think again!

Don’t allow yourself to be forced in to an FHA Mortgage or Conventional Loan, we are still accepting, closing and funding USDA Mortgages!

Conditional Commitments will be issued subject to the availability of funds and Congressional authority to charge a 3.5 percent guarantee fee for purchase loans and a 2.25 percent guarantee fee for refinance loans. The increase to the guarantee fee will work to make the program self sustaining and help to alleviate any future funding issues.

We are excited to continue to offer our customers access to this excellent program.

Feel free to contact us using the form below for more information.

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