Delaware USDA Rural Housing Loans Eligible Property Areas are Changing October 1, 2014

The eligible property areas for Delaware USDA rural housing loans in Delaware were supposed to change on October 1, 2014, when Rural Development was switching from using the 2000 US census data to determine eligibility based on population density to using the 2010 US Census.  The current areas that are eligible which were no longer going to be eligible are Middletown, Delaware and Smyrna, Delaware.  THE CHANGE WAS DELAYED UNTIL 2021!!

The USDA Rural Housing Loan offers 100% financing for borrowers looking to purchase homes in eligible areas that fall under the household income limit.  The income limit is based on the number of people in the household and on which county the property is located in Delaware, Delaware USDA Loan 2013 Income Limits.  The New Eligible Property Areas Map effective October 1, 2013, by county are displayed below:

New Castle County, Delaware Map of Eligible Property Areas for USDA Loans Effective October 1, 2013

Kent County Delaware Eligible Property Areas for USDA Loans Effective October 1, 2013

Sussex County Delaware Eligible Property Areas for USDA Loans Effective October 1, 2013

The changes to USDA Rural Housing Loan property eligibility take effect October 1, 2013, unless the United States Congress passes a bill to extend the current eligible areas.  Borrowers wishing to purchase property in Delaware in Middletown or Smyrna in the areas that will no longer be eligible must have their Complete Loan file delivered to Rural Development for approval by October 1, 2013, with Final GUS Underwriting Findings attached.  If the loan closes after October 1, 2013, and the GUS findings need to change and be re-run then the loan would no longer be eligible because the new GUS findings would say the loan is no longer eligible.

You can check to see if a property address is eligible or not by inputting the address into this website: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfhprop&NavKey=propproperty@11

If you would like to apply for a Delaware USDA Rural Housing Loan you can call 302-703-0727 or apply online.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713