Jeff Wilmoth's Blog

Mortgage and Lending - HomeStar Financial Corporation
Many industry professionals have asked "When will we have more USDA funding."   Nationwide available funding was at about 600 million as of May 4th, 2010.  As of May 7th, there were approximately $328 million in remaining funds available for purchase transactions.  Currently funds are being exhau...
Rural Housing Preservation and Stabilization Act of 2010 Yesterday April 27th, 2010, the U.S. House of Representatives passed the Rural Housing Preservation and Stabilization Act of 2010 (H.R. 5017) by a vote of 352-62 to ensure that families in rural communities continue to have access to much-n...
YIPPEE!!! H.R. 5017 PASSES IN COMMITTEE!!! Folks, it appears the political wheels are finally turning in favor for the USDA Rural Housing Program!  Today, the House Financial Services Committee unanimously passed H.R. 5017, better known as the Rural Housing Preservation and Stabilization Act of 2...
While browsing the real estate blogs I ran across this great article from Noelle Blazevich of North Bend, WA about the buyer's perspective on viewing homes for sale.  This is a MUST READ for homeowners contemplating selling there current home in this market.  Thanks Noelle!  This may seem a bit ...
While browsing the real estate blogs I ran across this great article from Colleen McConnell of Tallahassee FL about common misconceptions among buyers.  This is a MUST READ for buyers who are contemplating purchasing a home in this market.  Thanks Colleen!   Misconception: If you pay list price,...
If you are in the market to buy a home and need 100% financing, you'd better hurry!!!   According to the April 6th, 2010 Funding Update for the USDA Guaranteed Rural Housing Program, the total available purchase funds remaining for fiscal year 2010 are: $2,548,636,600!  While that may sound like ...
Recently USDA announced concerns regarding the availability of funds for fiscal year 2010 and that funding will likely be exhausted by the end of April 2010. According to Chase Rural Housing Services, the remaining funds for purchase transactions for the USDA Guaranteed Rural Housing Program, eff...
DO NOT PANIC... I've received numerous calls and emails about this very topic.  I understand there are various notices floating around from lenders essentially claiming that USDA is pulling the program.  Apparently, some of the "big boys" are pulling out of the program and as a result have decide...
It is hard to beat the flexibility and great rates of HomeStar Financial Corporation's USDA Rural Housing Loan. These programs are geared toward homebuyers who desire to live in "rural areas" and who have little to no money for downpayment. USDA Rural Housing Loan programs offer flexible, common ...
I don't necessarily agree that the new Good Faith Estimate hurts the consumer.  The new Good Faith Estimate does help the consumer more in a refinance transaction, than a purchase transaction. It does not completely resolve the issue of clearly disclosing the details of a purchase transaction in...

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