USDA - Time is Running Out - Eligibility Changes 2014

There have been a few changes to the USDA eligibility coverage areas. Up to this point, it was just a guess as to what areas would be affected if and when the new changes were decided. As of now, these changes will once again be on the table this January, barring Congressional Action to extend the current eligibility and coverage areas.

These changes were scheduled to start on October 1, 2011, but under pressure from the crippled mortgage industry, it was delayed and swept under the rug. Below you will see the current eligible areas in North Texas.

Current

Starting October, 2014

 

As you can see from the above map, there are going to be some significant changes, most notably the removal of the cities, Little Elm and Oak Point. So how will this affect the future of the USDA home loan program, that remains to be seen. It will be a challenge to locate areas that include newer homes at an affordable price that aren't too far from larger cities.

If you or anyone you know has even considered the USDA home loan program, I would seriously consider accelerating the process and moving on this before it changes. You can contact us and we can discuss your options.