On September 26, 2016, USDA has announced that funding for the Single Family Housing Guaranteed Loan Program will not be available for a short period of time at the beginning of Fiscal Year 2017, which starts October 1, 2016. During the temporary lapse of funding, Rural Development will issue Conditional Commitments “subject to the availability of commitment authority” for purchase and refinance transactions.
Here’s The Good News
Our mortgage company will allow Rural Housing Loans to close and fund with the conditional commitment from USDA as noted above. This means there will be no hold up with USDA in closing and funding Rural Housing Loans.
You can still take advantage of 100% financing for all Rural Areas of Utah.
Check out the Eligibility tab above, or give us a call at the office, to determine if this loan program is a good fit for you.
