USDA Funding likely to run out by April

In a letter to participating lenders, the Housing and Community Facilities Programs of USDA, stated that “program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010.  Once funding is exhausted, the Agency will not issue Conditional Commitments “subject to receipt of appropriated funds.”  This is because it is not certain when additional funding will be available.”

For those of you looking to purchase a home using this program, the time to act is now, before the funds are depleted.

Post contributed by Shane Siniard with WR Starkey Mortgage.

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