Mar 10
19
USDA Out Of Funds?
Is the USDA out of Funds?
Last week the Rural Development’s national office in Washington DC issued a statement that the anticipate the funds to issue guarantees for USDA Rural Home Loans will be exhausted by the end of April.
Every year we see the same thing happen. Last year the funds ran out in March and while many lenders pulled out of the market, we did continue to fund USDA Rural Home Loans.
This year looks similar in many ways and many lenders have already pulled the plug on USDA loan applications. Wells Fargo is no longer accepting USDA applications from it’s mortgage brokers.
For us it is business as usual and we don’t expect to stop funding unless the Committee on Appropriations gives an absolute no on a special allocation of $12 billion to get us through to the end of the fiscal year in September. We are confident Congress will provide the money considering what is at stake for housing and our national economy.
Apply for a USDA Loan Online Now: Loan Application
What can you do to help?
You need to contact your US Congressman, US Senator, professional lobby and employer to get them working on a solution because if this happens many homeowners will be left out on their loan closing because it simply won’t happen.
Please take 5 minutes and follow the links below to provide your support.
