New Definition of Rural in NC By USDA

The House of Representatives are considering a bill that will “renew” the Farm Bill. Unlike the Senate bill to fund the USDA – the House version does NOT tackle the question of USDA Home Loans and the new “definition” of Rural. That’s unfortunate. The Real Estate “Housing” recovery is not in high gear – and this program change could cause further … [Read more...]

USDA Home Loan PMI Will Change 10/1/11

If you are looking for a USDA Home Loan in North Carolina - you might want to do it before the end of September!  More Rule Changes! Okay, so you don't HAVE to buy before October 1st.  It's not like the 100% no money down program is going away - it's just changing the way the PMI (which they call Guarantee Fee) is being charged.  Starting at the … [Read more...]

USDA Rural Development Switching Underwriters

USDA Rural Development Single Family Housing announced some consolidation and changes regarding WHERE files are going to be processed. No matter who originates a USDA home loan, it is re-underwritten (or processed) through a local USDA office. In the past, loans for Wake County went to Wake, Johnston County went to Sanford and Franklin County went … [Read more...]

USDA Rural Development Home Loans

Thinking about buying a home so you can get that Tax Credit? Don't have a ton of CASH laying around??  Well, the first thing you should do is call Steve Thorne to see where properties are in your area that qualify for USDA Rural Development Home Loans!  Steve is a USDA Rural Housing Mortgage Expert, and he can research your property and determine … [Read more...]

USDA Rural Development Home Loans – No Money?

As of 4/15/2010 USDA has less than 2.0 Billion dollars left to fund in home loans.  This is a HUGE issue for folks who waited until the last minute to purchase a home, thinking they could a) get a better deal and b) use USDA Home Loan financing (no money down).  At the current rate - we will be out of funds before May 1, 2010. There are TWO major … [Read more...]