Government shutdown impacts home loans

By: Sara Zendehnam Email
By: Sara Zendehnam Email

GRAND JUNCTION, Colo. (KKCO) Getting a home loan is being put on hold until the Senate and House come to an agreement about the spending bill.

F.H.A, V.A. and conventional loans all require documents from government agencies like the Social Security Administration, FEMA and the IRS to be finalized.

Due to the shutdown, those agencies are not operating, leaving potential buyers with no options until the shutdown ends.

Rick Hamm, with Unifirst Mortgage, said the biggest loan that will be impacted is the Rural Housing loan. The entire Western Slope, with the exception of Fruita, Grand Junction and Clifton, is covered by Rural Housing loans and it is the most popular kind in this area.

You can still get approved for a loan, however the paperwork on the back-end will delay the finalization of it.

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