(example of a home available for special rural financing in Saratoga Springs, UT)
Finally the day we have been waiting for has arrived. As of December 5th I received official word that USDA has once again refunded the rural development single family housing guaranteed loan program for the coming 2012 fiscal year.
24 Billion was the amount I am hearing that was allocated for this years SFHGLP and the funds should be hitting the USDA coffers in about 2 weeks putting us at December 19th.
The wait is over, no more wondering if home buyers will have the funds in time to close on their purchase loans, so lets get the loan applications signed and the offers turned in, as once again we have the amazing USDA rural development loan to take a part in.
I'll be doing my part to make sure borrowers in the following cities are using it: Saratoga Springs, Eagle Mountain, Payson, Santaquin, Heber and more! Lets make sure we use Utah's fair share of the funds!
Here is a link to the USDA website that has a map which shows eligible areas for the Rural Development loan.
Also here is another helpful link with information regarding theUSDA income limits in Utah.
Apply here for a USDA Rural Development loan now!
USDA Mortgage Insurance Update: Effective wednesday December 7, 2011 the USDA rural development home loans have the following upfront guarantee fees and monthly mortgage insurance premiums.
Purchase Transactions: 2% upfront guarantee fee and .30% monthly mortgage insurance.
Refinance Transactions: 1.5% upfront guarantee fee and .30% monthly mortgage insurance.
Happy Home Buying!
Contact me at stetsonlowe@gmail.com or 801-318-4996 with any questions on this or other loan programs.
Stetson
