Steven A. Carriker, state director, Texas USDA Rural Development, announced that even though the fiscal year is quickly drawing to a close, there are still ample federal funds available for Guaranteed Rural Housing loans. Borrowers can often get these loans with no down payment. To be eligible for financing, the home must be located in a rural community with less than 10,000 in population, on a farm or in open country, not closely associated with an urban area. Under certain circumstances, loans can be made in towns and cities between 10,000 and 25,000 in population. The guaranteed rural housing loan may be used to finance new or existing homes that are structurally sound and have adequate mechanical, electrical, plumbing and insulation systems. The loan may be made for up to 100 percent of the market value. There is no down payment required. The lender may loan some closing costs depending on the appraisal. Theoretically, someone could move into a home for zero out-of-pocket expenses. Typically, however, not all the costs associated with buying a home can be financed. All loans must be secured by a first lien on a residential property. Interested home buyers, lenders, realtors, or builders should contact the Rural Development Office at (915) 643-1585, extension 4 for more information on the USDA Rural Development Guaranteed Loan program as well as the availability of other USDA Rural Development programs.