Back in August, the USDA announced three Snohomish County cities where under review due to the 2010 Census population increases. The review period put many, real estate brokers, lenders and buyers alike, into a frenzy because if the those cities (Arlington, Lake Stevens, and Monroe) were disqualified from the USDA program then many first time homebuyers and or buyers needing zero down financing would be ineligible to purchase a home.
Yesterday, Washington State GRH Staff announced the October 1, 2012 review has been postponed indefinitely.
Guaranteed Rural Housing Lenders and Partners:
Fiscal Year 2012 has been another successful year in Washington. We appreciate your business and the many households who have been assisted with affordable housing opportunities through your use of the Guaranteed Rural Housing (GRH) Program.
As Fiscal Year 2012 winds to a close, we want to update you on processing cutoffs and new information:
Rural Area Map Changes: The effective date of October 1, 2012 has been postponed indefinitely. Please continue to use the existing maps until further notice. As information becomes available regarding potential changes, we will share it with you.
To determine if a property is in an eligible rural area, please use the Rural Development Property eligibility website located at: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do.
For more information on USDA Financing, eligible areas, income limits, and more please visit the USDA Financing page.
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