What Does It Mean When USDA Runs Out Of Money?

Every year Congress puts funds into the USDA Rural Development "Account" for them to lend out to home buyers. It's a great program that requires no money down (for program details click here)... On March 11, 2010 Rural Housing folks announced that they will probably run out of money before the end of April.  What does that mean? Unlike FHA, VA … [Read more...]

Benefits of USDA Home Loans in Johnston County and Wake County, NC

USDA Home Loans are not just for buying farms! In fact, we don't really offer that kind of Rural Development loan!  We DO offer USDA Home Loans... 100%, No Money Down Home Loans that are insured by the USDA program! (Although if you want to use the USDA Home Loan to buy a horse farm in NC... you can!) These loans have less insurance than FHA … [Read more...]

USDA Appraisal Requirement Change July 1, 2009

Beginning July 1, 2009 USDA is requiring the updated Freddie Mac/ Fannie Mae appraisal in their packages.  As with any change, there are some potential drawbacks. USDA home loans are made in genearlly rural areas.  The new Freddie/Fannie appraisal is designed specifically to identify for the underwriter any recent changes (read DECLINING changes) … [Read more...]

Johnston County Qualifies for USDA Home Loans

In many NC Counties, you have to check the USDA website to make certain that the property you want to purchase is located within the USDA "footprint."  But if you are buying in Johnston County - you're safe!  The WHOLE COUNTY qualifies for USDA 100% No Money Down Home Loans. Now all you have to check is your income - to be certain you are not OVER … [Read more...]

Maximum Income Requirements USDA in Wake County NC

The Raleigh / Cary markets are considered an MSA (Major Suburban Area??) by the Government.  So, in Wake County that's how you will find the maximum income limits specified for Wake County. These numbers changed at the beginning of the year, and the new income limits (which are based upon the number of people in your household) are as follows: 1 … [Read more...]

USDA More Than a Brand on Meat

Are you looking for a mobile home? It can be difficult to get a mortgage loan for a mobile home - but we CAN help you find a nice stick built home, with a special program!  USDA Home Loans in NC are an excellent choice - and they are 100% - No Money Down Home Loans! USDA Home Loans were once called Rural Economic Development - and prior to THAT it … [Read more...]