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 firstname.lastname@example.org, 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