USDA Rural Development Funds – STILL AVAILABLE!March 16, 2010
Last week, several Realtors raised the question to me about USDA running out of funds.
As of last Friday, March 12th, many lenders stopped accepting new applications for USDA loans.
So, if you’re a Realtor, what do you tell your buyer? If you’re a buyer, what do you tell yourself?
First things first – you may be asking yourself, “What the heck is USDA Rural Development?” Isn’t USDA the people that say meat is good? As a matter of fact, yes they are. But USDA is so much more!
The USDA Rural Development Guaranteed Loan Program is a program that offers up to 100% financing for home purchases in geographically eligible areas of the United States.
If you saw the movie “Witness” back in the 1980s, you’d understand why this program plays a key role in the Lancaster County Real Estate Market. To watch “Witness,” you’d think that Lancaster County was nothing but farmland. Although there is a great deal of farmland throughout the county – it doesn’t completely define all inhabited areas. Back to my point – the USDA program isn’t just for purchasing farms, in fact, virtually every community in the county outside of Lancaster City is USDA eligible. Lititz, Ephrata, Manheim, Elizabethtown, Leola….just to name a few. If you are a homebuyer and want more information on the USDA Loan Program, call me!
Now, back to the issue at hand. This whole USDA funding thing happens every year around this time and sends a panic to the industry. Now I’m not saying to ignore the information, I’m just saying that there is still plenty of time to get an application submitted and get a loan closed and funded.
Guaranteed Home Mortgage is STILL accepting applications for the USDA Guaranteed Loan Program and I can get your deal CLOSED & FUNDED.
Although there has been an official announcement that program funding is running low; there are still plenty of funds available and we will continue to accept applications and have conditional commitments issued for several more weeks to come.
Don’t lose hope or walk away from an opportunity because other lenders have stopped taking applications.
Call me right away and I’ll get it done.
For over 6 years, I have saved many deals from falling through and am committed to my clients to provide the highest level of service and satisfaction.
We are a direct lender with direct lender decisions and I am right in here in Lancaster County to serve you and your clients – quickly & efficiently!
I am available 7am – 10pm, 7 day a week – 717-431-8848.
I look forward to the opportunity to work with you!
Thanks, Dan Ranck