If you have been considering purchasing a home in the outer suburbs, or in a rural area I would recommend doing it in the next few months.
The reason is that one of the best loans for homes in this area is the USDA loan. …and, the maps are supposed to change in January.
Changes to the map of eligible areas for USDA home loan programs based on 2010 Census data were scheduled to take effect Oct. 1.
However, passage of the Continuing Appropriations Act, 2014, has postponed the implementation date to Jan, 15 2014.
If you want to see how your area will change look at the USDA eligible map of your area now, and compare it to the future map of your area.
Go to this link: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
First – under Property Eligibility click “single family housing” on the left, and look at the map of your area.
Then – under Future Eligible Areas click “single family housing” on the left, and look at the future map of your area.
You can see some areas that were eligible are no longer eligible.
So, if you want to buy a house take advantage of the maps now before they change.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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