USDA update

To protect the applicant’s ability to finance a home that is located in a community that may become ineligible on October 1^st, the complete file (with appraisal) must be received by the appropriate USDA Rural Development Office on or before September 28^th, the last business day of Fiscal Year 2012.  If the Conditional Commitment (RD Form 1980-18) is issued after that date, the new Annual Fee of .40% for purchase transactions will apply, but the eligible area change will not impact the applicant’s ability to participate in the USDA Section 502 Guaranteed Rural Housing Program, provided the file was received by the USDA on or before September 28^th.