Ohio USDA Mortgage Loan applicants you have until October to get a USDA mortgage before possible re-alignment of USDA eligible areas may occur. All thanks to the 2010 Census.
Everyone thought the 2010 census was a thing of the past, well think again.
The data from the 2010 Census is going to cause USDA to re-align its eligible areas to stay true to their purpose of serving rural areas. USDA’s definition of rural and rural area is:
“any open country, or any place, town, village, or city which is not part of or associated with an urban area and which (1) has a population not in excess of 2,500 inhabitants, or (2) has a population in excess of 2,500 but not in excess of 10,000 if it is rural in character, or (3) has a population in excess of 10,000 but not in excess of 20,000, and (A) is not contained within a standard metropolitan statistical area, and (B) has a serious lack of mortgage credit for lower and moderate-income families, as determined by the Secretaries of Agriculture and HUD. For purposes of this subchapter, any area classified as “rural” or a “rural area” prior to October 1, 1990, and determined not to be “rural” or a “rural area” as a result of data received from or after the 1990 or 2000 decennial census shall continue to be so classified until the receipt of data from the decennial census in the year 2010, if such area has a population in excess of 10,000 but not in excess of 25,000, is rural in character, and has a serious lack of mortgage credit for lower and moderate-income families.
The USDA RHS definition of rural is not based on county or tract boundaries, and therefore often provides a more precise indicator of rural territory and population. Additionally, this definition is familiar to rural housing practitioners and policy makers at it has been the basis of USDA’s affordable housing programs and efforts for decades.”
Here’s a look at the potential changes to the USDA Home Loan Eligibility Map in Ohio
The areas that will be affected by the 2010 Census data are:
| Metropolitan USDA Eligible Areas Potentially Impacted by Population Change | ||||
| State | Place | Square Miles | 2010 Population | 2000 Population |
| OH | Aurora | 22.92 | 15,548 | 13,556 |
| OH | Lebanon | 12.96 | 20,033 | 16,962 |
| OH | Marysville | 16.27 | 22,094 | 15,942 |
| OH | Monroe | 15.87 | 12,442 | 7,133 |
| OH | Pataskala | 28.62 | 14,962 | 10,249 |
| OH | Streetsboro | 23.46 | 16,028 | 12,311 |
| OH | Trenton | 4.56 | 11,869 | 8,746 |
| OH | Streetsboro | 23.46 | 16,028 | 12,311 |
| OH | Trenton | 4.56 | 11,869 | 8,746 |
| Outside Metropolitan USDA Eligible Areas Potentially Impacted by Population Change | ||||
| State | Place | Square Miles | 2010 Population | 2000 Population |
| OH | Sidney | 12.02 | 21,229 | 20,211 |
All hope is not lost, Senate Bill 2375 (S2375) proposes to keep the current USDA Rural Development eligible areas as is through September 30, 2013. So contact your Senator and tell them to support S2375.
Make sure to share this to get the word out about these potential changes. And if you are in the market for a USDA Mortgage Loan in Ohio, request a RATE QUOTE.
