USDA Fiscal Year End

As the Fiscal year for USDA Rural Home Loans – October 1st of each year – Rural Development will be issuing “conditional” commitments on these 100% financing loans. Lenders can continue to issue the loan packets and close loans as scheduled, but eligible loans are “subject to the availability of commitment authority”. We will continue to work diligently to close all loans we have, with the funding condition notice that these commitments are cleared by the commitment authorities. This is normal and typical as it has been in past years, waiting on congressional commitments to the funding and eligible areas each and every October 1st

CATEGORY: USDA Updates

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