Sandra Quinones was supposed to close on a new home by December 28. Now she’s sitting among boxes.
She had been granted a loan from the US Department of Agriculture, but the USDA has been closed ever since the government shut down. Without that loan, her builders won’t get paid.
USDA loans are proving to be a big impact from the shutdown. The USDA provides zero-down-payment mortgages for low-income homebuyers in rural and suburban areas. The loans have low interest rates and fees, and are a good option for people who can’t get a traditional mortgage.
There are many more stories like Sandra Quinones. Here are some of them.
“My girlfriend and I, along with our 16-month-old daughter, were in the process of buying our first house. The loan we were getting was the USDA Rural Development loan. We had everything ready to go, and were just about to submit everything to the USDA for approval when the government shut down. We were set to close on January 17, and it’s very possible we’ll lose this house because of this shutdown,” says Cody Chambers.
“I am a first time home buyer and I was supposed to close on my house on December 28th. Because of this partial shutdown, I wasn’t able to close because I was getting a USDA loan. We just had to place our second extension on our closing date. Thankfully, my landlord is understanding and my family and I aren’t out of a home but I know that isn’t the case with others in the same position as I am,” Kiesha says.
“I was suppose to close on my house today but because I have a USDA rural development loan the loan can’t be funded until the government opens back up. My daughter was looking forward to us finally having our own house now we don’t know what’s going to happen,” Donielle says.
We are a young couple with a one-year-old daughter and have been working hard to save up for this home. We have not been able to close on the purchase because the loan we have lined up is a USDA loan. Because of the highly irresponsible handling of this situation, we are left essentially homeless, as we broke the lease on our previous residence and traveled across the country in order to move into our new home,” Grant Johnson says.
“We are under contract to sell our house with a woman who has/had a USDA loan. We were scheduled to close on the 31st and, of course, cannot close on the house we want to buy. We have two kids and half of our things in storage, and at this point, are completely uncertain about what will happen or when,” Claudia Rayno says.