Rural Housing Designation changes POSTPONED

USDA has postponed the changes to the Rural Area Designations. 

Remember our Sept 10, 2013 post about changes in the USDA program's eligible rural areas with a September 30 deadline? The potential changes to the Rural Area Designations have been put on hold until January 15^th, 2014 unless otherwise determined by Congress.
 

USDA has announced that if a property is in an area that will no longer be eligible after 1/15/14, the loan file must be received by USDA before the close of business January 15^th.

 

The USDA Program is a great option for 100% financing, but unfortunately has longer turn times than most other loan programs. That means you need to act now if you are interested in taking advantage of this loan option!

This affects homes in Albany, Ashland, Bend, Canby, Central Point, Corvallis, Cornelius, Dallas, Damascus, Eugene-Springfield, Forest Grove, Grants Pass, Klamath Falls, McMinnville, Medford, Millersburg, Newberg, Portland metro, Redmond, Roseburg, Salem/Keizer, Sherwood, St. Helens, Wilsonville, and Woodburn.

Eligible areas for USDA Rural Housing Programs:  The "Continuing Appropriations Act, 2014" (H.R. 2775) was signed into law by the President of the United States.  Therefore, barring further Congressional action, current eligible areas for USDA Rural Housing Programs will remain unchanged through January 15, 2014.  (H.R. 2775 extends Sec. 731 of H.R. 933 "Consolidated and Further Continuing Appropriations Act, 2013")