Per the Fiscal Year 2020 Commitment Notice released September 12, 2019 funding will be temporarily unavailable for the USDA Rural Housing Loan program beginning October 1, 2019. USDA Rural Development will issue Conditional Commitments “subject to the availability of commitment authority” until funds have been allocated.
USDA RD loans with Conditional Commitments attached to fiscal year 2020 will not be purchased by Gateway Mortgage Group, a division of Gateway First Bank until Congress has re-allocated funds.
Please continue to monitor and extend rate locks on all USDA loans as necessary until Funds are available for the USDA RD program.
Please direct any questions to your Regional Sales Manager