Possible extension for rural housing program

May 3rd, 2010

Written by Greg Frost Jr.

Categories: Homebuying, Mortgage Banker News, Mortgage News, Mortgage Programs, Real Estate News, Rural Housing Service, U.S. Department of Agriculture loans, USDA

The Rural Housing Service’s single-family program (subscription required) is almost out of loan guarantee authority, but a bill passed by the House and potentially being taken up by the Senate this week would extend it to Sept. 30, giving it time to become self-funding by raising its fee to 4 percent (it is currently 2 percent). The Agriculture Department-managed program has been extremely popular.

U.S.Department of Agriculture (USDA) loans are one of our specialties, and we’ll be watching these developments closely. Please click today to find a friendly, helpful loan officer in your area.

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This entry was posted on Monday, May 3rd, 2010 at 6:10 pm and is filed under Homebuying, Mortgage Banker News, Mortgage News, Mortgage Programs, Real Estate News, Rural Housing Service, U.S. Department of Agriculture loans, USDA. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.