Sam Miller's post is an extremely important news alert for First Time Homebuyers using USDA Rural Development Financing. It is very likely that the USDA will have exhausted all funds for home loans by the end of April, 2010. Homebuyers need to act quickly before funding runs out! Read Sam's post to find out more.....
According to the United States Department of Agricultural (USDA) it is very likely that the USDA will have exhausted all funds available for single family home loans by the end of April, 2010. This should create tremendous urgency for homebuyers to select their dream home and get a home under contract and closed before these funds for these loans run out next month. The following quote is from a letter that was sent to all participating lenders who utilize the USDA Rural Development Loan Program:
Once funding is exhausted, the Agency will not issue Condition Commitments subject to receipt of approproate funds. This is because it is not certain when additional funding will be available." For more details about what this could mean to you as a homebuyer, visit my USDA Rural Development announcement summary.