West End Blog: Changes to USDA Loans

Upcoming impacts?on the Housing Market for Cumberland and York Counties. The USDA Loan (besides VA Loans) is pretty much the only loan program left that offers 100% Financing. If you are familiar with the program, it offers the ability to finance 100% of the purchase price when a buyer is purchasing in a USDA eligible location. Most of Cumberland County was eligible, with the exception of Portland, South Portland and parts of Westbrook.

USDA has sent out a ?Preliminary List? of changes to their eligible locations (contact us for a complete list), and a good portion of the areas previously approved for USDA Loans ? including Biddeford, Brunswick, Falmouth, Gorham, Kennebunk, Saco, Sanford, Scarborough, Westbrook, Windham and York are on this list to be removed from eligibility. Many of the changes are due to increased populations in the areas previously eligible. This change becomes effective October 1st, 2012. FHA Loans will become the defaulted choice for?buyers who may have previously used USDA Financing. If you have questions about USDA loans, please contact one of our buyer specialists of The Hatcher Group: Paul McKee pmckee@kw.com or Jeff Lunt jclunt@kw.com or call the office at 207-775-2121
? John Hatcher Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Source: http://westendportland.blogspot.com/2012/08/changes-to-usda-loans.html

the heart attack grill joe kennedy iii joseph kennedy iii ghost hunters lightsquared david lee honduras prison fire