In the past the USDA home loan program has been something that many people in Central Oregon have used to purchase their first homes since towns like Redmond, can be classified as a “rural area” by the USDA, but thanks to the 2010 Census times are changing and many Oregon towns will soon lose their rural classifications starting on October 1st 2013.

Which Towns Will Be Affected

Unless any action is taken by Congress to stop the USDA from changing their definition of what is a rural area the following towns across Oregon will be affected:

  • Redmond
  • Dalles
  • Woodburn
  • Newburg
  • Canby
  • Klamath Falls
  • Ashland
  • Forest Grove

The USDA is seeking to expand their area of ineligibility around big cities like Portland and Bend since more people have moved closer to larger metro areas in the last 13 years and some home buyers in this area who were hopeful that the USDA home loan would be there for them may not be able to use it if they wait to apply for a USDA loan much longer.

Not Going Away

The truth about the USDA home loan program is that it’s not going away but the change in the rural geographical area as classified by the USDA means that many people may not be able to qualify for a USDA loan if the home or property that they want to purchase isn’t located in a USDA eligible area.

Thanks to the 2010 Census, the USDA won’t just be redefining what rural areas are across Oregon, 500 geographical areas across the United States will be affected and close to 10,000 miles will no longer qualify for the USDA home loan program.

To learn more about changes to the USDA home loan program or to view the latest homes for sale in Bend or across Central Oregon contact me today by calling (541) 383-1426.