Paul's Bellingham Blog

My thoughts on Bellingham, the Real Estate market, and more

USDA (Zero Down Loan) Changes are delayed!

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The USDA Rural Development program, which is designed to make rural housing more affordable, offers one of the only loans available today that is Zero Down. A rate today with USDA is zero down with about a 3.0% rate locked for 30 years! So really a program that makes buying cheaper then rent in most cases right now.

Currently the only area excluded from the map is the city of Bellingham, and in Skagit County, the city of Mount Vernon. The map is changing, and the city limits of Ferndale, Lynden, Burlington, and Anacortes will soon be excluded as well when they create the new map. The GOOD news is that they just delayed this change from October 1st, to March 27th, 2013! This gives zero down home buyers plenty of time to find to find a home if they want to take advantage of the USDA loan product while it is still available in these Skagit and Whatcom County cities.

If you have questions about this, feel free to give me a call at 360-920-5901, or contact me here.