NC USDA Home Loan Director Says Maps May Change Oct 2012

USDA no money down home loan We reported earlier that there are some SIGNIFICANT changes in the “definition” of Rural in North Carolina by the USDA Rural Housing Department.  With the passing of the Senate USDA Appropriations bill, S.2375 – it appeared that the decision to change the maps was “Grandfathered” until June 1, 2013.  According to our conversation this morning with Barbara Beard-Hinton’s Office (she’s the Acting Director for USDA Rural Housing Service, Single Family Housing in North Carolina) they DON’T KNOW when the Maps will change!

THIS IS A HUGE ISSUE IN NORTH CAROLINA!  We have 21 communities that will be affected by this change to the Maps.  Meaning you will no longer be able to use USDA No Money Down Financing in these areas when the maps change.

USDA Underwriting Turn Times in North Carolina are such that if you wrote a contract TODAY you might have trouble getting a USDA loan closed PRIOR to October 1st!  It’s taking AT LEAST 14 days to get through the NC USDA Underwriting process (because they lost 19 positions earlier this year with budget cuts).

I would encourage ANYONE writing a contract in one of the affected areas to CALL US prior to entering into an agreement:

  • Belmont

  • Clayton

  • Eden

  • Fuquay-Varina

  • Hendersonville

  • Holly Springs

  • Hope Mills

  • Knightdale

  • Leland

  • Lenoir

  • Mebane

  • Morganton

  • Mount Holly

  • Murraysville

  • Newton

  • Piney Green

  • Reidsville

  • Smithfield

  • Summerfield

  • Tarboro

  • Wake Forest

We do a TON of USDA Home Loans in North Carolina.  As soon as a decision is made – we’ll update everyone.  Here’s a Link to the OFFICIAL Rural Indicators Map on the USDA Site.  We believe that these markets will be adversely affected as fewer people are able to purchase using the No Money Down Home Loan option.

Please call Steve and Eleanor Thorne 919 649 5058, NC’s USDA Home Loan Experts.


  1. When will the 2013 funds be available?? We sold our home to someone that has been approved for a USDA Rural Dev. loan, but there is no money available. I understand the new fiscal year started October 1, but they still say there is no money available yet.

    • The money should be available this week. When the new fiscal year started, USDA also implemented a new “PMI” schedule. That meant all of their computers and forms had to be updated, so they told us in August that there would be a slight delay.

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