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Articles tagged with: Rural Development

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[21 Jun 2012 | 2 Comments | 7,105 views]
New Rural Development guidelines could impact Saline County

The USDA Rural Development Administration mortgage program is due an update this year and the proposed changes may impact areas of Saline County.
According to a memo from Doug Lawrence, the USDA Rural Development area director in Hope, the following Saline County cities may no longer be considered rural after Oct. 1 — Alexander, Bryant, Hot Springs Village (in Saline and Garland counties), Salem and Shannon Hills.
What does that all mean? The United States Department of Agriculture program is one of the few left that require no down payment for mortgage. …

Business, News, Real Estate »

[9 Sep 2010 | 2 Comments | 3,505 views]
Rural Development funds released

For the past four months, home buyers, mortgage bankers and Realtors in Arkansas have waited for the restoration of guaranteed loans through the United States Department of Agriculture’s Rural Development program.
Justin Moore, president of the Mortgage Bankers Association of Arkansas, said the money guaranteeing those loans was released on Wednesday. The Rural Development program, he said, has been a boon to Arkansas homebuyers as it’s one of the very few mortgage products left that requires borrowers to pay no money down when taking out a loan.
“It opens up new financing …

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[8 Aug 2010 | One Comment | 2,591 views]
The wait is (almost) over — Rural Development program receives more funding

Mortgage bankers, homeowners and real estate agents have wondered since mid-April when – and if – the United States Department of Agriculture’s Rural Development program would receive the authority to guarantee more loans.
At the end of July, President Barack Obama signed a bill that will allow Rural Development to guarantee those loans. That’s good news for Arkansans as those mortgages are available in most areas of the state and they exist as one of the few “zero down” loans still available. By the first of August, the Mortgage Bankers Association …

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[4 Aug 2010 | 2 Comments | 1,644 views]
Lincoln says $700 million coming to Rural Development in Arkansas

U.S. Senator Blanche Lincoln (D-Ark.) issued a press release Tuesday stating that the United States Department of Agriculture’s Rural Development Program will receive the authority to guarantee $700 million in home loans in rural parts of Arkansas.
While the aforementioned news release is full of the expected election year back-patting and bragging, perhaps Lincoln deserves an accolade or two on this issue. She, after all, has pushed for increasing more loan guarantees for Rural Development since April when it became obvious the program would run out of money far before the …

Business, News, Real Estate »

[30 Jul 2010 | One Comment | 4,822 views]
Obama signs off on bill providing more funding for Rural Development

People throughout Arkansas and the nation have been waiting for guarantees from the United States Department of Agriculture’s Rural Development program to purchase homes for a few months now.
On Thursday, President Barack Obama signed a bill that will provide the USDA the authority to guarantee additional loans under the program. That’s good news for Arkansas — Realtors throughout the state have said that Rural Development mortgages have helped people purchase homes in most areas of the Natural State.
Rural Development loans come in two flavors — direct …

Features and such »

[11 Jul 2010 | No Comment | 1,225 views]
Home buyer tax credit extension approved, but what about Rural Development?

Home buyers got some good news at the first of July – the deadline to close on transactions for those wanting a tax credit was extended by Congress to Sept. 30.
Of course, we’ve been operating under one tax credit for home buyers or another since 2008. The most recent credit gave eligible new buyers up to $8,000 and repeat buyers up to $6,500.
People wanting to take advantage of that credit were instructed to get homes under contract before May 1 and close on them before July 1. According to the …

Features and such »

[27 Jun 2010 | 3 Comments | 2,216 views]
It’s oddly quiet when it comes to Rural Development

For the past couple of months, both mortgage bankers and Realtors throughout Arkansas – and the nation – have been waiting to hear news about more federal money heading for the United States Department of Agriculture’s Rural Development.
We’ve not heard a whole lot about that program from politicians in Washington lately and that’s odd.
The Rural Development program has been a boon to real estate sales in Arkansas. Simply put, people buying homes backed by that program have been able to secure now uncommon “zero down” mortgages.
Here in Arkansas, people purchasing …