USDA Buyers Stuck in Limbo as Shutdown Hurts Housing

 · The shutdown situation also exacerbates a rough few years in farm country. In November, the USDA projected that net farm income would decline by $10.8 billion (14.1 percent) in 2018 – just 3.3 percent above the 2016 level, which was the lowest since 2002.

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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.

SHA isn’t worried – at least not yet, said Kerry Coughlin, spokesperson for the housing authority. Still, if the government shutdown continues through February, there will be problems. As of Dec. 31, SHA administered 10,557 vouchers. KCHA leased another 12,264 units. And the shutdown might continue.

by Andrew Wittenberg. SALT LAKE CITY – Also stopping with the shutdown: government-backed home loans. That means anyone in the middle of buying a house could find themselves stuck.

 · The U.S. housing market, already losing steam, is taking another hit from the government shutdown, delaying closings and damaging buyer confidence, according to.

Ok Awesome, and how much does the average home buyer come in with out-of-pocket? So because your down payment for a USDA Loan in Huber Heights is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

 · House Agriculture Committee Chairman, Collin Peterson considers legislative action to keep farm programs open if a second shutdown occurs. The proposed bill would keep the Farm Service Agency offices running to administer programs mandated under the farm bill. february 15th is the deadline for an agreement to prevent another government shutdown.

Last year USDA-guaranteed. into the flagging housing market. Now, potential buyers are waiting in limbo for the government to reopen, leaving their futures and the housing recovery up in the air..

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But mortgages suddenly dried up overnight and lending shut down. Even more infuriatingly. chief executive of the National Housing Federation. Home ownership is increasingly becoming the preserve.