USDA Home Loans

The U.S. Department of Agriculture Rural Housing loan is 100% financing or no down payment loan. Property eligibility and income limits apply. Currently, much of Pinal County and very few areas in Maricopa County apply. See this link to determine if the property is eligible: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do;jsessionid=45E0A4C11660583CF17964890AA85B79 . Word as to what will happen to these eligible areas continues to be cryptic at best. For now we anticipate that these eligible areas will continue to be available for this program.

The Continuing Resolution will be in place allowing USDA to offer funding under the previously approved budget without any additional increases if the Farm Bill (Senate or Congress version) is not passed.  The Senate’s Farm Bill has language in it that would keep all existing areas eligible until 2020.  However, right now, the passing of either Farm Bill is not expected until next year and additional detail will be provided if anything changes.

For Fiscal Year 2014, the USDA funding allotment will be in line with 2013’s budget of $24 billion (all budgets, Presidents, Senate and Congress, account for this funding volume).   In 2013, the anticipated total funding will be $23 billion so we are in a good place for the end of this Fiscal Year.