Inlanta Mortgage is a USDA Platinum Million Dollar Lender

Rural housing lender platinum award

USDA Platinum Million Dollar Lender

Inlanta Mortgage has been recognized for its contribution to the success of the USDA Rural Development Guaranteed Rural Housing Program for fiscal year 2012. Inlanta is a certified USDA Platinum Million Dollar Lender utilizing over $5 million in rural housing funds during 2012.

USDA Rural Development Program

The USDA Rural Development Loan Program, or just USDA loans for short, are designed to make rural housing more affordable. A USDA Guaranteed Loan is a government insured 100% purchase loan. USDA loan program eligibility depends upon applicant income and the purchase property location. The USDA Rural Housing program is for residential purchases and rate-and-term refinances only – no cash out refinancing. All USDA loans are 30-year fixed rate mortgages.

In 2012, guaranteed rural housing funding was delivered to Wisconsin homeowners resulting in over 3,388 home purchases. Inlanta is headquartered in Brookfield, Wisconsin, just outside of Milwaukee.

USDA Loan Eligibility

In order to utilize the USDA Rural Housing Program, your home must be located in a rural area. Although the term “rural” might not seem to apply to you – several suburbs and outlying communities of most major U.S. cities meet the USDA property location requirements. Check your property eligibility here: Rural Housing Property Eligibility.

Since the program is designed to help low-income individuals or households purchase homes – the USDA Rural Development Program also has income limits. Check the income limits for your area here: USDA Rural Housing Income Limits.

Apply for USDA Loan

Inlanta Mortgage is an approved USDA Rural Housing Program Lender and a USDA Platinum Million Dollar Lender. Use our branch locator to find a licensed mortgage loan officer near you, or apply online now. If you apply online now, we will match you with a loan officer licensed to originate loans in your state.

The information provided in this post is not meant to be comprehensive. For more information on USDA mortgage loans, contact a licensed mortgage loan officer directly.

Celebrating its 20th Anniversary, Inlanta Mortgage is a growing mortgage banking firm committed to quality mortgage lending, ethical operations and strong customer service.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is an agency approved lender for Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS #1016. Inlanta Mortgage is proud to be named to the Scotsman Guide Top Mortgage Lenders 2012 list and to be among the Top 100 Mortgage Banking Companies in America in 2012 and Fastest Growing Milwaukee-Area Firms.

USDA Rural Development Program Update

USDA Rural Development Program Update

What is USDA Rural Development?

The USDA Rural Development Loan Program is a program designed to make rural housing more affordable. USDA loan program eligibility depends upon applicant income and the purchase property location. With USDA Rural Development loans, you can finance a home with no down payment

USDA Program Eligibilty Extended

The U.S. Department of Agriculture announced last week that USDA Rural Development program has been extended until September 30, 2013.  Areas that were eligible for USDA financing (Single Family and Multi-Family Housing Programs) on September 30, 2012 will remain eligible until September 30, 2013.

Defining Rural

On October 1, 2012, the USDA was expected to revise its definition of “rural.” This revision would have made USDA rural development funding more restrictive. Eligibility would have been limited to communities with a population less than 20,000 not located within a MSA (metropolitan statistical area). Half the rural population in America lives within a MSA and would be ineligible for the USDA rural development loan program if this change had been implemented.

Communities in Wisconsin that could be affected if the change is implemented later this year include: Burlington, Hartford, Muskego, Port Washington, Portage, River Falls, Stoughton, Sussex, Vernon, and Waunakee. A very large number of Florida communities could be affected as well.

Need more information on the USDA rural development loan program? Consult a licensed mortgage loan professional near you.

One Inlanta Mortgage loan officer has been recognized among the nation’s Top Originators 2012 for her efforts to help borrowers with the USDA Rural Development Program. Laura Leonhard, branch manager in Marshfield, Wisconsin was recognized in a recent release by Scotsman Guide. Laura has been recognized as the #1 USDA Lender by volume in the country.

Inlanta Mortgage is proudly celebrating twenty years in business. Learn more about Inlanta’s twenty year history here.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage is proud to be a recent recipient of a 2012 Top Workplace Award.

 

Rural Development Loans – USDA

USDA Rural Development Loans

What’s So Great About USDA Loans?

Answer: 100% financing.

The USDA rural development loan program is a program designed to make rural housing more affordable. USDA loan program eligibility depends upon applicant income and the purchase property location. With USDA rural development loans, you can finance 100% of the home value with no down payment.

USDA Program Changing Next March

On October 1, 2012, the USDA was expected to revise its definition of “rural”. This revision would have made USDA rural development funding more restrictive. Eligibility would have been limited to communities with a population less than 20,000 not located within a MSA (metropolitan statistical area). Half the rural population in America lives within a MSA and would be ineligible for the USDA rural development loan program if this change had been implemented.  These changes are now delayed until March 27, 2013.

Communities in Wisconsin that could be affected if the change is implemented next March include: Burlington, Hartford, Muskego, Port Washington, Portage, River Falls, Stoughton, Sussex, Vernon, and Waunakee. A very large number of Florida communities could be affected as well. For a complete list of communities that may potentially be affected by tighter rural development eligibility restrictions click here.

How do I check if my home is USDA / Rural Housing-eligible?

With the USDA Rural Housing Program, your home must be located in a rural area. However, the USDA’s definition of “rural” is quite liberal. Many small towns meet the USDA requirements, as do suburbs and exurbs of most major U.S. cities. Click here to check your home’s USDA loan eligibility.

What is the USDA program’s minimum downpayment?

The USDA has no down payment requirement. You can finance 100% with a USDA loan.

Is the USDA loan program limited to first-time buyers?

No, the USDA Rural Housing Program can be used by first-time buyers and repeat buyers.

What mortgage products are available with a USDA mortgage?

The USDA / Rural Housing Program offers 30-year fixed rate mortgages only. There is no 15-year fixed rate mortgage and no adjustable-rate mortgages.

Need more information on the USDA rural development loan program? Consult a licensed mortgage loan professional near you.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016. Inlanta Mortgage was named a 2012 Top Workplace in Southeastern Wisconsin.

USDA Rural Development Program Facing Changes

USDA Rural Development Program Facing Changes

What is a USDA Rural Development loan? The USDA rural development loan program is overseen by the U.S. Department of Agriculture and is designed to make rural housing more affordable. With USDA rural development loans, you can finance 100% of the home value with no down payment. Income restrictions apply and loans are 30-year fixed rate mortgages.

Eligibility for the USDA rural development loan program is also dependent upon property location. Currently, communities outside of a metropolitan statistical area (MSA) qualify as long as their populations are below 20,000, and inside a metropolitan statistical area as long as their populations are below 10,000.

Communities with more than 10,000 people in metropolitan statistical areas would not qualify but for the grandfather clause, which said that communities that were eligible before the 1990 census would remain eligible until Oct. 1 as long as their population remained under 25,000.

On October 1, 2012, the USDA must revise its definition of “rural” as that grandfather clause first enacted in 1990 and extended in 2000 – will expire.

This revision will make USDA rural development funding more restrictive. Eligibilty will be limited to communities with a population less than 20,000 that are not located within a MSA. Half the rural population in America lives within a MSA and will therefore be ineligible for the USDA rural development loan program.

Communities in Wisconsin that could be potentially be affected include: Burlington, Muskego, Port Washington, Portage, River Falls, Stoughton, Sussex Veron, and Waunakee.

A large number of Florida communities could be affected as well. For a complete list of communities that may potentially be affected by tighter rural development eligibility restrictions click here.

Congressional action would be needed to extend current elibility requirements – but you can still take advantage of less restrictive USDA rural development eligibilty criteria.

Click here to determine if your property is eligible.

Need more information on the USDA rural development loan program? Consult a licensed mortgage loan professional near you.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016Inlanta Mortgage has recently earned the distinction of being named a 2012 Top Workplace in Southeastern Wisconsin.

Inlanta Mortgage Receives USDA Homeownership Awards

USDA Awarded to Inlanta Mortgage Antigo Office

Inlanta Mortgage received two awards from the United States Department of Agriculture (USDA) Rural Development Wisconsin State Director, Stan Gruszynski. Inlanta Mortgage’s corporate office is a recipient of the Million Dollar Lender Silver Award and its Antigo, Wis branch office (doing business as First Choice Mortgage) is awarded the Million Dollar Lender Gold Award.

The awards recognize lenders who have made a significant contribution in assisting Wisconsin rural residents achieve the dream of homeownership, in partnership with USDA Rural Development and the Guaranteed Rural Housing (GRH) program. Awardees have utilized in excess of $2 Million (for the Gold) and $1 Million (for the Silver) of GRH program funds in fiscal year 2009 in earning this recognition.

Representatives from Rural Development presented the award to Mike Fittante and Jim Fittante, Managers of the Antigo, Wisconsin branch office and Joe Ramis, Branch Recruitment Director, Nicholas DelTorto, Executive VP, and Jean Badciong, COO from the Inlanta Mortgage corporate office at a small ceremony on September 1, 2010.

“We’re thrilled to receive this award,” said Badciong. “Our Antigo branch has worked hard to help many local residents achieve their dream of homeownership and is receiving this award for the third consecutive year. This [GRH] program allows our customers in Antigo and throughout Wisconsin to obtain affordable housing, pride of ownership and most importantly helps the communities in which they purchase. Serving rural Wisconsin is a great honor for all Inlanta and First Choice Originators.”

“By working in partnership with lending institutions across Wisconsin, thousands of rural families have become homeowners,” said Gruszynski. “Our partnership with Inlanta Mortgage and our other approved lenders are highly valuable,’ he added, “and we look forward to sharing continued success with them as we provide affordable homeownership opportunities created through our Home Loan programs.”