If you are considering buying a property in an outlying county around metro Atlanta, then be sure to check out a USDA mortgage loan, otherwise known as a Rural Housing Loan.
USDA Funds Released – $10 Billion (yes, that’s billion with a B) has been allocated. According the USDA, about 25% have already been used to fund “purchase transactions only” that have been on HOLD since January 9, 2009. When the “dust” settles, money will be released for refi’s.. Not every community qualifies—but if it does, it’s the best thing since sliced bread!.
I agree, it is the best thing since sliced bread, since a USDA loan is 100% financing, at market rates, and has NO monthly Mortgage Insurance (MI). I just closed one for a young couple who purchased a home in Winder, GA. They came to closing, and got a check back for nearly all their earnest money. Nice.
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