Make Hay while the Sun Shines...Rural Housing changes are on their way

Mortgage and Lending with Christensen Financial Mortgage 385907

Let me start out by clarifying that statement.

First, I'm talking about area eligibility. That is property location.

Second, I'm a Southwest Florida Loan Originator and will focus mainly on that area.

But, there are some generalities that apply to the whole state and/or the whole country.

As the USDA release states they are making the changes because they have to, "it's the law."

and I quote

"the Agency is required to review rural areas for continued eligibility after the release of the decennial 2011 U.S. Census, as well as additional reviews every 3 or 5 years depending on population growth. In Florida, no changes were made since 2002, even though some areas have seen tremendous population growth."

Two counties in Southwest Florida which will see substantial changes are

Lee & Collier

Charlotte County will remain as it is, without any changes.

In general;

34 counties will remain TOTALLY ELIGIBLE, while 9 other counties having some ineligible areas will remain unchanged

So when will this all happen?

According to the Agency no sooner than Sept 1, 2011, and possible later.

So what does this mean for prospective buyers?

If you need or want to purchase a home in the effected areas, you need to do so


The key will be, if you have or haven't signed a form, RD 1980-21 before the deadline. This is a lenders request form, and will be the determining factor.

Why now?

As with many proposed changes, with stated deadlines, many propspecetive buyers will increase the level of their activity, accelerate their search to beat the deadlines. Currently eligible properties, which stand to lose their eligibility may see multiple offers.


the opportunities are still there now. Just remember to

Make Hay will the Sun Shines   

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