USDA Redrawing Boundary Lines In November

USDA Redrawing Boundary Lines In November

If you're not aware of the USDA program, it's a great 0-down option.  The intent of the program was to develop rural areas.  So it does have boundaries.  Some popular areas that qualify for USDA are Wellington, Eaton, Johnstown and Milliken.  Earlier this year they expanded to include areas like Windsor and Brighton.  Everyone in the Real Estate/ Loan business was a little surprised about Windsor and those areas aren't really "rural".  Our expectation is that those areas will be removed come November.  So if you are looking for a zero down program....and like the Windsor or Brighton area, I would start actively looking now.

USDA is also out of funding.  This happens almost every year.  Many banks won't offer the program but Loan Simple will fund these loans and hold them until USDA receives additional funding in January.  

Sarah Rowan Headshot
Phone: 970-397-5774
Dated: October 13th 2014
Views: 336
About Sarah: Sarah was a licensed real estate agent for 10 years before transitioning into the mortgage industry ...

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