Wow this is definitely the year for Real Estate news! Yesterday I brought you news on Short Sales and today its one of my favorite programs for helping families get into a home with virtually ZERO down and is a perfect loan for First Time Home Buyers.
Check this out: Effective October 1, 2013, the USDA will be imposing their revised property eligibility changes as a result of the 2010 Census findings (unless Congress extends the date which has happened twice now).
This is going to prevent several families from buying right now and it’s hard for me to see changes such as the one’s proposed as it almost eliminates entire areas that once qualified for USDA financing. For example, above is the current eligibility map and with this change much of Lake Stevens, Marysville and Arlington will not qualify as of October 1, 2013.
Here is a link that you can use to search property addresses, or look at regions that may be affected by the proposed changes.
If you, or you know of someone, wanting to start looking for a home using the USDA program please have them get in contact with me. I have several great lenders I use that can get you pre-qualified and we can start looking right away. If we get in a contract before October 1st and they do change the boundaries you most likely can be grandfathered in but, the sooner the better!!
Sellers who currently live in these areas you should also take note if you are thinking of listing do it ASAP! Expanding your buyer pool keeps you competitive and sells you home quicker!
As always, please feel free to call me directly with questions – (425)422-7243.