Some good news for Florida homebuyers looking to purchase a home in 2014. The USDA Rural Development location eligibility maps will NOT be changing as previously thought 1/16/2014. A recent bill extends the rural definition (Rural defined locations) through the end of the fiscal year on October 1st 2014. As a result, ALL communities that are currently eligible for the USDA loan program will remain eligible until 9/30/2014. This extension allows continued access to the USDA Rural Development Loan Program for many Florida communities and nationwide. Keep in mind many Florida communities just outside of Jacksonville FL, Tampa, Orlando, Lakeland, Pensacola, Naples, etc, remain eligible for the 100 percent USDA program in 2014.
NEW UPDATE: Sept, 2014 – The new USDA map changes have once again been delayed. The US Congress enacted a Fiscal Year 2015 Continuing Resolution (CR) to fund the government through December 11, 2014. The CR included a general provision extending all policies currently in effect. As a result, the CR effectively extends eligibility under the Rural Definition – for all communities that are currently eligible for USDA Rural Housing Programs through the term of the CR (December 11, 2014). USDA Rural Housing has postponed any changes to the eligibility map (approved area) that were previously scheduled for October 1, 2014. This is great news, as many communities will continue to have access to the 100% USDA RD program for a couple more months. It is important to note that if Congress further extends the CR, the Rural Definition will also be extended through its term. Please bookmark our blog here for the the latest updates.
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USDA Rural Housing Map