About North Carolina Real Estate


USDA Rural Development Loan News - Eligibility Map Changes Postponed

UPDATE May 30, 2014
For more that 2 years USDA has been setting and then postponing the
implementation date for USDA Rural Development property eligibilty maps to change.  The change is part of an effort to re-define the definition of "Rural" and when it is finally implemented it will affect almost 1/3 of North Carolina, including popular currently eligible areas such as Mooresville, Mount Holly and parts of Concord.  At this time USDA Rural Development Eligibility Maps are scheduled to change on October 1, 2014. 
NOW is the time to act if you would like to take advantage of this wonderful loan program offering NO MONEY DOWN and Mortgage Insurance that is MUCH lower than FHA Mortgage insurance.
Original Blog Post Dated April 7, 2013
Charlotte area Realtors have been dreading the upcoming changes to USDA Rural Development eligibility maps since it was announced last year. Several areas that have been USDA eligible for many years were slated to become ineligible as of March 27, 2013. These areas include Mooresville, Mount Holly, part of Concord and other popular USDA financing areas. However, we've just been given a reprieve!

March 22, Congress passed the FY13 Continuing Resolution that contained a specific provision extending eligibility for all rural communities that are currently eligible for USDA Guaranteed and Direct Home loans until September 30 of this year. The planned re-drawing of USDA Rural Development loan eligibility lines would be based on the 2010 Census population date. Currently, eligible areas are based on 2000 Census population data.

Rural advocates have proposed H.R. 858, the Rural Housing Preservation Act, which would extend the current boundaries until 2020. I'm hopeful that this will happen, because the recovering real estate market needs all the help it can get!

For more information about USDA Rural Development home loan programs, click the following links to view my previous blog posts on the subject.

USDA Rural Development Home Loans

USDA Rural Development DIRECT Loans - Subsidized Payment Loan Program

Contact me anytime to discuss your real estate needs.

Cheryl Powell- The Powell Team- Remax Executive Realty

Visit My Website


Comment balloon 6 commentsCheryl Powell - The Powell Team • April 07 2013 11:46AM


and yet again another postponement of the changes they're 'going to make;' great blog to keep on top of this ever-changing(ish) issue! ;)

Posted by Darren Copeland, Darren Copeland (Leader One Financial) over 5 years ago

Cheryl, if the map changes are IMO,emerged later this year, much of our area will no longer be eligible.  Buyers should hurry to take advantage if this great lending program.

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) over 4 years ago

LOL Darren! 

Posted by Cheryl Powell - The Powell Team, Concord,Harrisburg & Charlotte NC Area Real Estate (RE/MAX Executive - The Powell Team) over 4 years ago

VERY true Silvia!  Eligible areas will be dramatically decreased in our area as well, so the time for buyers to act is now!

Posted by Cheryl Powell - The Powell Team, Concord,Harrisburg & Charlotte NC Area Real Estate (RE/MAX Executive - The Powell Team) over 4 years ago

It seems like changes have to happen in order for a few upper managment to show they are doing something to warrent their jobs.

That includes here in the rain.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 4 years ago

LOL William!  In this case I wish that upper management would quit working all together and postpone the changes until the next census.  :-)

Posted by Cheryl Powell - The Powell Team, Concord,Harrisburg & Charlotte NC Area Real Estate (RE/MAX Executive - The Powell Team) about 4 years ago