Home Loans and the Government Shutdown

Mortgage and Lending with Leader One Financial 164545


By now if you haven't heard the news that the government shut has taken effect and lots of federal employees are stuck at home on an imposed vacation by caused by either the democrats or the republicans (depending on who you voted for,) then you're probably some who doesn't watch the news.  But we’re not here to talk politics or about news coverage, because this is our mortgage blog, however this little hiatus has caused lots of questions for the home loan world, and it will affect those of us in Lee’s Summit, but maybe just a little bit.  So here are the answers to some of the questions we’ve gotten the most today about Home Loans and the Government Shutdown.


  1. Can I still get an VA, FHA or USDA loan while the shutdown is going on?
    • Yes, you can still get a VA loan during the while the government is not working.  Because the VA is actually not closing down for this event.
    • Yes, You can still get an FHA loan.  The FHA has said it’s automated systems and employees will continue to process home loans.
    • No, you will not be able to proceed with your USDA loan.  For the short time ahead it looks like the shutdown will stop USDA loans.
  2. What does the future hold for the home loan industry?
    • The short answer is currently we don’t know how Home Loans and the Government Shutdown will affect the industry but we do have a few small predictions.  If the shutdown lasts for quite a while then we will see more impacts due to people not being able to get their tax transcripts and other governmental documents.  If the shutdown isn’t very long then we should see smooth sailing.
  3. I’ve already started the mortgage process will my home loan still be processed on time?
    • Yes, for the most part we shouldn’t see the government shut down delaying loans that are already in progress. (however, this varies for each file – depending on documentation and other issues.)


If you have any questions feel free to call us at (816) 268-4025 or you can get pre-approved for a home loan online here: KC Loan Tips Application.

Home Loans and the Government Shutdown

Posted by

Darren Copeland | Home Loans | Lee's Summit MODarren Copeland, Vice President LeaderOne Financial

4967-B NE Goodview Circle, Lees Summit, MO 64064

(816) 268-4025

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Comments (1)

Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Darren -- thank you for providing this information in such an easily understandable manner.

Oct 03, 2013 05:07 AM