USDA Rural Development recently announced that funding for its Rural Development Guaranteed Housing program will likely be exhausted by the end of April, 2010. Currently the USDA has about 4 billion remaining to fund loans for the remainder of 2010. That may sound like a lot but consider that they have already funded or guaranteed 9 Billion so far this year and you can see the negative affect this may have on the housing recovery. In metropolitan areas this will have very little to no effect on the housing market but in areas like Arkansas where the majority of the state is considered eligible for the program there may be a much larger impact.
The long and short of it is that you need to get your loan in process immediately so you don’t miss the boat. Like it or not it’s setting sail and there is no launch date or return date on the horizon. Better to be early and get on board!
Call one of our experienced professionals today and we’ll do everything we can to get you a boarding pass.
Dio Vannucci has written 95 articles on Mortgage Brains
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