Tucson AZ Home Loan Info

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USDA Geographical Boundaries to Remain As Is Until 2020

Yesterday, the US Senate passed the Farm Bill.  The hoopla in the media had to do with Food Stamps, but REALTORS and homebuyers are excited that (1) the Rural Home Loan financing program will remain in place, and (2) the current geographical boundaries will remain in place.

If you are an Arizona REALTOR, and want to attend, please RSVP to (520) 349-9090.

usda coffee with underwriter

Comment balloon 4 commentsMike Jones • February 05 2014 02:45AM

Comments

Hi Mike, This is good news indeed. If I were an AZ Realtor, I'd be there. Thanks for posting.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 3 years ago

Howdy Mike, this here event which y'all are holding, is one Real Estate Agents would want to make time to attend.

Posted by Dale Baker, New Hampshire Relocation Real Estate Information (Baker Energy Audits and Commercial Properties Inspections) over 3 years ago

Hi Mike,  this is great news about the USDA.  The seminar sounds great, agents should certainly take advantage of it

 

Posted by Susan Jackson (America's Network Realty Group, Inc) over 3 years ago

Thanks for your comments; the interesting thing is that of 55 REALTORS invited, ZERO took advantage of this.  The comment most often heard: "I don't do USDA."  Let's see:  (1) Buyer doesn't have to have a down payment.  Zero down. (2) Income limits are very generous (3) If the house over-appraises, the difference between the purchase price and the appraisal CAN BE ADDED to the loan to help pay closing costs without asking for Seller Concessions.  (4) Credit Score requirements same as for FHA. (5) Monthly MI is only 1/3rd the amount of FHA monthly MI.

So let's see...  Too hard a program for a Buyer's Agent, I guess.  I mean, who would ever qualify for this?

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 3 years ago

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