Friday, October 18, 2013

USDA Rural Boundary Changes to Affect Portland Metro

Update: Changes to the housing eligible areas map based on 2010 Census data scheduled to take effect 1/15/14, have been postponed to 10/1/14 by passage of the Consolidated Appropriations Act, 2014. View "Future Eligible Areas." Complete applications received before October 1, 2014, will continue to use rural area definitions based on 2000 Census data. -1/24/14

An update on shrinking USDA boundaries that will affect many Portland Metro as well as other rural areas in Oregon. This is a popular loan program for low to moderate income families that allows for financing up to 100%. The previously undetermined deadline has now been set for January 15th, 2014, barring any further Congressional action. 

Affected rural areas in Oregon

Alert from USDA Rural Development in Oregon...
Changes to eligible areas for USDA Rural Housing Programs scheduled for Oct. 1, 2013, are currently on hold. (posted 10/18/2013) 
Implementation of the 2010 Census data modifying eligible rural areas for USDA Rural Housing Programs had been scheduled for October 1, 2013. With the “Continuing Appropriations Act, 2014” (H.R. 2775) signed into law by the President of the United States on October 16, 2013, eligible areas for USDA Rural Housing Programs will remain unchanged and consistent with the 2000 Census through January 15, 2014, barring further Congressional action.
Background: On March 26, 2013, the President signed the “Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2013” (the FY 2013 Appropriations Act). This Act extends the authorities and limitations of the FY 2012 Appropriations Act for USDA Rural Development housing programs (Single Family Housing and Multi-Family Housing Programs) pursuant to the Housing Act of 1949. As a result, Rural Development deferred transition to the 2010 Census information for these USDA housing programs until the expiration of the FY 2013 Appropriations Act on September 30, 2013. On October 16, 2013, the President signed the “Continuing Appropriations Act, 2014” (H.R. 2775), which further defers transition to the 2010 Census information for USDA housing programs through January 15, 2014. (H.R. 2775 extends Sec. 731 of H.R. 933 “Consolidated and Further Continuing Appropriations Act, 2013.”) Until that time, and unless specifically directed otherwise, the RHS housing programs are instructed to use the data from the 2000 Decennial Census for program eligibility purposes.
Questions regarding this message may be directed to the USDA Rural Development National Office at (202)720-1452.
To apply for this or any other loan program contact me today!

Additional Resources

http://www.rurdev.usda.gov

http://eligibility.sc.egov.usda.gov

http://www.oregonmortgageconnexion.com/search/USDA