On March 26, 2013, “H.R.933 — Consolidated and Further Continuing Appropriations Act, 2013” was signed by the President.
It provides USDA Rural Development funding through September 30, 2013. This same legislation also preserved the mapped locations of USDA loan eligible rural areas from September 30, 2012 to September 30, 2013 for rural housing programs.
Palm State Mortgage announces that this is very good news for first time home buyers! The USDA Rural Development “Eligible Location” map is going to stay the same for a while. You already might know that the approved locations for the USDA home loan program were scheduled to be changed this very month, but due to the above legislation, it isn’t going to happen.
USDA regularly reviews locations and makes these alterations based on statistical material from the U.S. Census reports. This year, such normal map changes have been delayed.
So, first time home seekers wanting 100% financing have the opportunity for a longer time. Likewise, if you are looking to purchase a home in a more populated area, we advise you to do it soon while the USDA map locations are maintained.
Palm State Mortgage Company hopes you have enjoyed a great springbreak or Easter Holiday, and we’d like to extend a “Happy Spring Greeting,” to our friends, families, clients, and to all of you who read our blogs.
This spring is shaping up to be a great time for house hunting and mortgage seeking. If you have questions either about the above announcement of H.R.933, USDA, HARP, or other mortgage issues, we’d be very happy to explain the laws, rates and rules to you.
We hear the palms of Orlando will be greener, brighter and healthier this year, just like the money you will save, if this is the year Palm State becomes your mortgage company.
