USDA home loans

USDA Home Loan Map Changes Are Delayed Until September 2013

USDA home loansDespite the “Sequester” the Senate and House are quietly passing pieces of legislation that could HELP housing!  I’m specifically talking about  the continuation of the USDA 2013 budget last week, which is now just waiting for the President to sign it.  With that signature, the legislation will KEEP the current USDA designated eligible areas IN PLACE for a while longer.  That means that USDA Home Loan map changes are delayed until September 2013 giving everyone a little more breathing space!

Even though there is a push to change the definition of Rural, this delay will give Congress more time to consider H.R. 858, the Rural Housing Preservation Act.   This Act carries a provision for any “area that has a population of between 10,000 and 25,000, is rural in character, and has a serious lack of mortgage credit for lower and moderate-income families.”

For First Time Homebuyers in NC, this is WONDERFUL news.  With the changes to USDA Home Loan Maps now scheduled to go into effect on September 30, 2013 –  1/3 of North Carolina LOSES the ability to offer USDA Home Loans!

View The Actual USDA Eligibility Map Changes for NC

The H.R. 858 bill will extend the current USDA Home Loan boundaries until 2020.

We recently did a comparison of all of the No Money Down Home Loans in NC, and we still think USDA Home Loans are the best program available – for the folks who want to live in a Rural part of our state, and who qualify!

If you are looking for a USDA Home Loan in North Carolina – call Steve and Eleanor Thorne!  919 649 5058 – we know the USDA Home Loan program requirements, and we can help you get pre-qualified to buy your dream home in NC!


  1. says

    Well… we certainly agree it’s a big deal! It is part of the FY ’13 Budget Continuing Resolution that was approved on 3/21 and sent to the President to sign. So, assuming he SIGNS it (which all indications are he will) then it should stay in place until 9/30/13. There’s another Bill being floated around by Congress regarding USDA Home Loans that would push it all back until 2020… but it only covers areas between 10K and 25K in population. The current “change” in definition of Rural takes the qualified population down to 20K. Another biggie for us in NC, is that the current “change” means that areas NOW considered part of an MSA would no longer qualify. This is where 1/3 of NC loses USDA Home Loans (should THAT definition go into play). Once the Budget has been signed – I will update the site with that info.

    THANKS for asking! If you are looking for a home in NC, and we can help – we’d love to give you some information on payments, etc.


  2. Iris says

    Hi, Eleanor

    How quickly should lenders get word of this?
    I am in the process of buying a new home in Johnston County and we were waiting to see what would happen on 3/27/2013 with the USDA map as my closing is set for July.
    I recently contacted my lender and they indicated that they are not aware. I am a little concerned.

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