The USDA program is still available in Clayton and Smithfield. The Rural Development Eligibility Maps do not show any areas of these towns as being ineligible.
Which Homes In Clayton No Longer Qualify For USDA 100% Financing
USDA Rural development loans have been really popular with Clayton, NC home buyers in the last number of years and it soon may come to an end. The USDA has new maps showing what areas in Johnston County will no longer be eligible due to the fact that they are no longer considered rural. In fact the whole of Johnston County used to be eligible and so if you were looking for a house in the county, you did not have to be concerned with whether or not the house was eligible. Now you do.
Towns No Longer Considered Rural
The larger municipalities of Clayton and Smithfield are no longer considered rural enough to qualify for a USDA loan and so buyers of homes for sale in these towns will not be able to use the no money down low interest rate offered by the USDA. The shut off date is scheduled for October 1st 2013 and that means that the loan package must be with the USDA by September 30th. This is all depended on the Federal Government passing a Federal Budget and so it’s likely that no resolution will be made for this to happen and the deadline could be extended.
Homes In These Clayton Neighborhoods No Longer Eligible.
Neighborhoods that are in the town limits of Clayton will no longer be eligible for the USDA program and include:
- Riverwood Athletic Club
- Glen Laurel
- Chandlers Ridge
- Lions Gate
- Richardson Place
There are other neighborhoods and it also includes any home not in a neighborhood but within the town limits. Neighborhoods outside the town limits of both towns in Johnston County will still be eligible for USDA financing and are sure to benefit from the fact that 100% financing for home buyers is available.
Homes In These Neighborhoods Still Eligible.
Neighborhoods in Johnston County that will still be eligible for USDA Rural Development loans include…
- Flowers Plantation
- Riverwood Golf
- Neuse Colony
- Taft Woods East
- Southwick Farm
- North Fort
- Branch Woods
There are many more neighborhoods throughout Johnston County along with homes not in neighborhoods but have their own land not in the town limits that will also be eligible.
Is the house you want to buy in a neighborhood that is eligible for USDA 100% Financing? Call David at (919)601-2268 or email firstname.lastname@example.org and I will find out.