Good News for REALTORS & Buyers with Zero Down Needs!
This morning from the USDA National Office in Washington DC:
"On September, 19, 2014, “Continuing Appropriations Resolution, 2015,” (Public Law 113-164) was signed by the President. The continuing resolution extends a current general provision regarding housing program eligibility. This means that if a community is eligible today, they will remain eligible under the continuing resolution. Barring further Congressional action, RHS will delay implementation of the revised rural area maps based on the changes to the rural area definition as revised in the Agricultural Act of 2014 (Pub. L. 113-79). During the continuing resolution and as provided in the FY 2014 Appropriations Act (P.L. 113-76), RHS will not reclassify any area eligible for rural housing programs on September 30, 2013 as not eligible for such programs. The “Future Eligibility Maps” are posted on the Eligibility Website."
What this means for YOU (especially in Arizona)
- If you're a Listing Agent in an area that was slated to become ineligible, you'll still be able to put USDA 100% in the Financing field.
- If you're a Buyers Agent, your buyers will still have access to 100% financing in areas like Surprise, Queen Creek, Maricopa, Sahuarita, Marana, and many more areas which were slated to be axed.
- If you're a buyer with limited downpayment resources, and you want to live in one of these areas, eligible homes are waiting for you!
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