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March 15th, 2010 9:31 AM

USDA loans are almost the only source, other than VA loans, of 100% financing

Indications are funds for the USDA program providing funding for single family housing will likely be exhausted early April. This is not an unusual happening. Usually USDA issues Conditional Committments "subject to receipt of appropriated funds" when funds are exhausted.  

However, this year the agency will not issue Conditional Committments. This is because it is not certain when additional funds will be available.

Some lenders stopped taking USDA Rural Development loan committments TODAY. Others will soon follow.

Posted by The Bobby Dean Team on March 15th, 2010 9:31 AMPost a Comment (0)
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