Demand for the USDA Guaranteed Rural Housing Program remains strong and has hit record-setting levels. As a result, in an announcement dated Jan. 5, USDA Rural Development has advised lenders that funds for the program are expected to be exhausted by Jan. 9, if not sooner.
As has been done previously when program funds are not available, USDA Rural Development will issue their loan approvals "subject to receipt of Congressionally appropriated funds."
Funding would need to be appropriated by Congress and released to the agency. Lenders expect this will happen, but they are not sure when.
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