USDA Mortgage Funding Update!

USDA Mortgage Online is pleased to announce that USDA Rural Development has authorized the issuance of Conditional Commitments for the Single Family Housing Guaranteed Loan Program so we can continue to close and fund USDA Mortgages once funds for Fiscal Year 2010 are exhausted.

This means we will continue to close and fund new USDA Mortgages while we wait for more money to be appropriated to the Rural Development program! If you though you missed out on buying a home with a USDA Mortgage, think again! We are still accepting, closing and funding USDA Mortgages!

Conditional Commitments will be issued subject to the availability of funds and Congressional authority to charge a 3.5 percent guarantee fee for purchase loans and a 2.25 percent guarantee fee for refinance loans. The increase to the guarantee fee will work to make the program self sustaining and help to alleviate any future funding issues.

We are excited to continue to offer our customers access to this excellent program.

Feel free to contact us for more information.