Under the American Recovery and Reinvestment Act of 2009, approximately $10 billion in purchase funds are now available for the Rural Development Single Family Housing Guaranteed Loan Program (SFHGLP). Beginning Friday, March 27, 2009, the Rural Development program will be re-activated! Here’s a glimpse of what USDA can offer:

• 102% loan-to-value – this means $0 down + roll in closing costs
• Up to $417K purchase price
• No PMI
• Condos and manufactured homes allowed
• No reserves required
• Up to 6% seller contribution towards closing costs

Too good to be true?  Here’s the catch:

• Income limitations
• Geographic limitations
• Minimum 580 credit score required

Find out if your property or income qualifies.  Check out  http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do;jsessionid=3A9FDD1B237583EA9EE02934281E8C7A OR … call me for more information! Marie Funston Senior Mortgage Advisor Cell:  (512) 750-7270 Office:  (512) 691-6757 Fax:  (512) 343-1224