On October 10th, Congress appropriated a unprecedented $7 billion in funds to insure new Guaranteed Rural Housing loans originated between October 2008 and September 2009. Geographic eligibility standards will not be redrawn until after the 2010 US Census, so at present these 100% loans are still available locally in all... read more
There is a lot of confusion right now regarding these government loans, so here is a rundown on recent and imminent developments:
Regarding FHA, the most important recent change is the prohibition of seller-financed down payment assistance programs such as Nehemiah, Preferred Program, etc. Effective October 1st, 2008, these... read more