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Arizona Valley Market Blog
Arizona Valley Market Conditions

 

At valley market blog, we strive to bring you the most current information on the valley's market conditions. We also post special events such as model home furnature sales and their locations so check back often!

 

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102% USDA loans done for the time being!
Thursday, March 18, 2010

Very prominent in Maricopa, Queen Creek, Southern Chandler and areas of Pinal County

USDA Halts New Loan Applications

USDA just announced that effectively immediately, they are no longer accepting any new applications for USDA/Rural loans. USDA/Rural loans allow 100% financing for certain areas (Queen Creek, Buckeye, city of Maricopa to name a few). USDA guarantees these loans but once their budgeted funds are gone, they need to wait for the next round of funds before they will start issuing guarantees on new loans. USDA did not provide a date for when new funds would become available. Borrowers with USDA loans already in process will want to work with their lender to insure they are able to close under this loan program.
Posted by Brian on 08:38 PM • (1) Comments • (0) Trackbacks • Permalink • Email This Post
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