USDA Buyers Stuck in Limbo as Shutdown Hurts Housing

The following is a list of government agencies and operations affected by the United States federal government shutdown of 2013

USDA Buyers Stuck in Limbo as Shutdown Hurts Housing – USDA loans account for. we’re going to have a home tied up and won’t be able to get this house turned over to the new buyer." The immediate effect of the government shutdown won’t be felt beyond.

CALLER: Well, right now the USDA is such a loan program, it’s a no-money-down government program for rural areas and about 20, 25% – RUSH: Wait a minute. Wait just a second.

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The USDA stopped issuing mortgages to families in rural areas, causing delays for some people who were in the process of purchasing a new home. USDA’s Rural Housing Service handles about 132,000 mortgages a year, or about 1.4% of all mortgages in the United States. Families can qualify for a USDA mortgage if they make up to 115% of the median income in their area.

As the government shutdown continues, would-be homeowners are stuck waiting on USDA aid Last year, the agency provided housing assistance worth $18.4 billion in home loans, loan guarantees and grants.

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