There’s a Land Rush on USDA Housing Loans

The Federal government’s best deal for home buyers is no longer a best kept secret. Founded in 1949 to spur home sales and development in rural areas, the US Department of Agriculture’s direct and guaranteed rural housing loans today are just about the only place in America you can get a mortgage with no money down at competitive rates.

As more and more suburban and exurban buyers figured out how to qualify and an infusion of stimulus funds made more direct and guaranteed loans available, the program doubled its volume last year, making 27,871 loans for the year. Stimulus money paid for 84,021 loans. More

Central Valley and Bay Area Real Estate Information and Services at PMZ.com