Many people had believed that the USDA home loan program had run out of money, but the United States Department of Agriculture has just boosted the loan limit to $2.5 billion. Doing so has opened up the door to getting a new home for many people across America. Most all areas are eligible for the USDA rural housing loan except for actual major city centers.
Unfortunately, guaranteeing all of these loans will create another housing bubble which will eventually burst creating even more economic fallout damage than has already been done. However, I am in the business of providing services to people who want them and if it’s legal to make money issuing government backed loans than I will do so.
The USDA mortgage program was extended after extensive hardcore lobbying by Ruben Hinojosa the Chairman of the Congressional Rural Housing Caucus. He probably believes this is what will get him re-elected.