$15 Billion available for USDA residential lending!

 

SFH Origination News

From the National Office in Washington DC

 

 May 26, 2011

 GUARANTEED LOAN FUNDING UPDATE:  HELP WANTED! 

$24 BILLION DOLLARS ALLOCATED FOR SINGLE FAMILY HOUSING LOANS! 

$24 billion dollars is available in Fiscal Year 2011 (through September 30, 2011) in the Single Family Housing Guaranteed Loan Program (SFHGLP).  To utilize these available funds, WE NEED YOUR HELP!   

SERVE RURAL HOMEBUYERS!  In the past, funding shortages due to overwhelming volume and program demand may have prohibited some homebuyers from utilizing the SFHGLP.  Fiscal year 2011 will be different!  Congress responded to lender requests for more funding and delivered $24 billion for the current fiscal year!     

LEND WITH CONFIDENCE!  Future Guaranteed Loan Funding Updates will continue to be released in order to keep our lending partners informed of available funding levels.

As of May 26, 2011:

TOTAL $ OBLIGATED:      $9.2 BILLION

TOTAL # LOANS:                 70,759  

OVER $15 BILLION REMAINS TO SERVE RURAL HOMEBUYERS!   

Thank you for your support of the Single Family Housing Guaranteed Loan Program!

If you would like more information on the USDA home loan program, or you have questions about qualifying about a USDA loan in the state of California, please feel free to contact me at the e-mail address or numbers below.

Baxter Scruggs is a mortgage banker specializing in USDA loans in California, NMLS #156370. He can be reached at bscruggs@guildmortgage.net, or at 760-497-7705, or toll-free at 877-347-0004, ext. 226. Licensed by the California Department of Business Oversight under the California Residential Mortgage Lending Act.  The blog postings on this site represent the positions, strategies or opinions of the author and do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Terms and conditions apply, all loans subject to underwriter approval. Subject to change without notice. Guild Mortgage Company NMLS #3274

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2 Responses to $15 Billion available for USDA residential lending!

  1. Mikkol Soter says:

    Mr Scruggs,
    i am interested in researching some available real estate in my county. I live in Ventura county. And actually have multiple interested parties. I stumbled on to you by happenstance, while writing a grant proposal. I consider myself lucky!
    i look forward to hearing from you! Where is it that youre located?

    Mikkol Soter
    missmikkol@gmail.com

    • usdahomeloan says:

      Mr. Soter,

      Thanks for the note. The best way to determine eligible areas in Ventura is to look under the “eligible areas” section of the navigation bar on this site. if you put in a zip code, the map will show you eligilbe areas. For Ventua County, Oakview, Miro Monte, Ojai and Filmore are eligible, as well as some other pockets within the county. Let me know if you have difficulty with the map finder.

      Baxter

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