This is to inform everyone that USDA funding could be exhausted by the end of April 2010.
We have been informed by the Washington Office, at the present time, there have been no new allocations for funding. We have discussed with our investor and they are working closely with Congress to obtain new allocations.
Presently, USDA is continuing to issue conditional commitments; however, if new funds are not allocated they may stop accepting the credit files sent to them for approval.
usdamortgageonline is committed to continuing the program as long as funds are available.
However, if we receive word that funds are no longer available, we will not be able to fund the loan even if it has been approved.
We feel this program is a very good program and is a great way to promote homeownership in rural areas. We suggest you contact your representatives in your areas and stress the importance of funding this program.
We will continue to monitor the funding status and will let you know by updating our site.
Thank you for your continued partnership.
