USDA Funds Running Out TODAY
March 18, 2010
In a nut shell, the program has been so popular that they are running out of commitment authority. With only 4 billion left across the nation, the balance of commitment authority will be more than used up by the end of the day. That’s why this will become a game of who gets their loan processed, approved, and then approved by USDA for your commitment while money is available. Locking in a loan does not guarantee anything.
What may also happen is that USDA could petition Congress to divert funds from another agency to keep the program going. As you can see, this will literally require an “act of Congress” to keep the program going. If not, funding will not be available until the new fiscal year begins October 1st.
About Max Leaman Austin Mortgage
Max Leaman, Branch Manager
PrimeLending Austin Mortgage
Since 2001, I have served the greater Austin, TX area, focused on providing the absolute best rates and lowest fees. More than that, I treat clients like family and consider you a client for life.
My priority is to provide the best rates and lowest fees. Period.
Step by step, I walk you through the entire mortgage process.
Your loan will close on time, as promised, with no surprises.
I make sure you understand exactly what we are doing and why.
I help you obtain homeowners insurance if you need it.
I attend your closing (not many lenders do), to answer any last-minute questions and ensure a 100% stress-free closing from start to finish.
What's more, I am available after your closing to be your go-to consultant for any mortgage question or concern. I am also available to recommend high-quality contractors and professional services for your new home, as well as referrals for financial services, law, medical and everything in-between.
Please let me know if we can assist you in any way. You can reach me quickly by office phone (512) 617-5636 or by mobile (512) 293-1239. You can also email MaxL@PrimeLending.com.
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