This just in. I had written earlier about the USDA Rural Access Program and then, just last week, I received this email from Huck Ferrill, our contributing mortgage lender.
Apparently the 100% program has enjoyed so much success that USDA has suspended it until they've appropriated more money. Best guess is March, 2009. We will keep you informed!
However, if you are a first time homebuyer, there might still be a program out there for you. So give me a call and I will help you get into the home you want and pointed in the direction of a good mortgage that fits you!
2 comments:
Good news, Purva. The USDA program is alive and well again. Going rate is around 5.5% (5.75% APR) as of today 1/22/09
Huck Ferrill
Hello all, it is not necessary to be a first timer! This really is a great loan. No money down, no money saved in reserves, and there is no limit to how much the seller can contribute to the buyers closing costs. You can even have 1 mortgage late. Any questions email me if you like. Love the blog Purva. Great job.
Fredbermudez@KMGLoan.com
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