Home > Blogs > Mississippi > Desoto County > Hernando > ***USDA Eligibility Map Changes Effective 10/01/2012
9,564 views

Doug Capps, CRMS, MRMS's Blog

By Doug Capps, MMS, CLO, CRMS | Mortgage Broker
or Lender in Hernando, MS

***USDA Eligibility Map Changes Effective 10/01/2012

With the 100% USDA rural housing loans, there will be an adjustment to the USDA eligibility maps effective 10/01/2012 nationwide.

The effective date will be based upon fully executed sales contracts (signed by both buyer and seller) dated no later than 09/30/2012. Contracts written on 10/01/2012 or later, will not be honored by USDA.

The map changes will not be available online until after 10/01/2012. Here is the link to the USDA eligibility map - click HERE. Then, click on Property Eligibility, Single Family Housing (located on left side). Click Accept and that will take you to the map. Enter the address and you will be able to determine if an address is eligible or ineligible.

For more information please contact DOUG CAPPS at (662) 429-5100 ext. 105. NMLS ID #68160.

Fairway Independent Mortgage Corporation, 224 West Commerce St, Hernando, MS 38632 is a "MS and TN Licensed Mortgage Company." NMLS ID #2289. An Equal Housing Lender. All loans are subject to credit approval and compliance with investor guidelines. Fairway Independent Mortgage Corp is not affiliated with USDA Rural Development.

Know your mortgage options

Comments

By Lisa Schraeder,  Fri Aug 17 2012, 06:22
Thanks for sharing this information. I have clients that have purchased under this program. As Omaha grows into more rural areas, glad to know to check for the updated map.
By megan.lower,  Mon Aug 27 2012, 15:37
Congress is on vacation, but for the Farm Bill there are two amendments in the bill in both the house and the senate. The House bill, offered by a Nebraska republican, would extend eligibility through the end of FY13 for places that were eligible before the 2010 Census and have current populations less than 35,000 but would become ineligible because of population growth between the 2000 and 2010 Censuses. Over in the Senate, a democrat from Nebraska has offered an amendment (#2242) to the Farm Bill (S. 3240) that would keep these places eligible so long as their population in 2010 was below 35,000. (The population cap is 25,000 in the current grandfathering provision, which applies to places that were eligible before the 1990 and 2000 Censuses.)
I hope the House Bill gets passed

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer