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Home Buyers and Sellers Affected by Government Shutdown

Home Buyers who have applied for a United States Department of Agriculture Loan are at a standstill.

Posted: Jan. 8, 2019 6:14 PM
Updated: Jan. 8, 2019 6:14 PM

CENTRAL POINT, Ore.,-USDA loans are government backed and are for home buyers who buy a home in a more rural location.

With the government shutdown, people aren't getting getting the loan like they anticipated.

Principal Broker, Devin Zupan, says that he works with clients that are now at a standstill with buying or selling their home.

"We've got one incident where a buyer was renting and they applied for a USDA loan and they put in their notice to their landlord and now they're just kind of stuck waiting for their USDA loan to close."

Some of this clients are even without a home now because of the buyer not getting the USDA loan.

"There's one situation in our company where the seller has already relocated to Chico. The family moving in was getting ready to move in. The government shutdown occured and now both are without a home, just waiting for it to come back," says Zupan. 

With the government shutdown, no one is there to process those loans.

At the end of the shut down, the back up of these loans will be processed.

Zupan told us that other loans, like FHA loans, aren't being affected.

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