Suburban Philadelphia Real Estate News

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USDA Rural Development Loan Program Update

Country HomeUSDA Rural Development Loan Program funding is close to being exhausted.

This is a quick update from our Lenders that I wanted to pass on.  (The USDA Rural Development Loan Program is not available in Delaware County but it does become applicable as you move further into Chester and Montgomery counties.)

On March 9, the United States Department of Agriculture Rural Development (RD) announced that program funding for the Single Family Housing Guaranteed Loan Program (SFHGLP) will likely be exhausted by the end of April.  With this in mind, some lenders are already no longer accepting USDA Rural Development Loan Applications effective immediately.

As always, if you have any questions or need any additional information, please do not hesitate to let me know.

David Henke
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808
www.DelawareCountyPennsylvaniaHomes.com

Comment balloon 3 commentsDavid Henke • March 18 2010 09:16PM

Comments

same in north carolina many lenders are not acepting USDA applications.

Posted by Sukhdev Farmah (Triangle Lending Group) almost 10 years ago

Hey David, we have USDA loans down here in the more rural areas.  Almost had a client use it, but she backed out of the deal.

Posted by Liz Flint, Houston\Tomball Realtor (832)816-8066 (Century 21 Hardee-Team Realty) almost 10 years ago

Due to limited property eligibilty, it is not as popular in this area, but it is a great match for some properties.

Posted by David Henke, Realtor, Homes Just West of Philadelphia PA (Long & Foster Real Estate, Inc) almost 10 years ago

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