One government housing program that had run out of funds months ago was revived by Congress. The Senate yesterday passed HR 4899 to reestablish the popular U.S. Department of Agriculture Single-Family Housing Guaranteed Loan Program (Section 502 Housing) as a self-sustaining program.The Rural Housing program had run through its $13.1 billion funding by early this year and many buyers hoping to finance home purchases using Homebuyer Tax Credits were unable to complete their purchase.

This is GREAT news for lower income buyers in rural areas. Check with me as there are places that would surprise you that qualify for a 30 year low fixed rate. For example in Germantown MD you can use USDA in small sections of Milestone. If you know that area, you know it isn't rural any more. Please let me know if I can be of assistance.