If you are considering purchasing a home and using the 100% USDA Rural Development loan for that purchase, here is a heads up. The agency, on Mar. 10 of this year issued a statement in which it stated that funding for these loans will most likely be exhausted by the end of April, 2010 and it will not be issuing “conditional commitments” as it has in the passed.
Further, the agency announced that it could not foresee when additional funding would become available. However, it did state that some limited funding might become available for certain disaster areas.
So, if you were considering the use of a 100% USDA Rural Development loan in order to purchase a home and also receive one of the available tax credits, you need to move quickly. Talk to your lender, or, you can contact me via email for the names of several lenders that handle these loans.
For more information, or, if you would like to sell or purchase a home or other property in and around Athens, Ga, please call me at 706-207-5290, or you can email your question to me by clicking here. To search for homes and other real estate in and around Athens and N.E. Georgia, please visit my website, The Athens Real Estate Page.
