Government shutdown preventing some from getting a mortgage

During the government shutdown, the USDA won't be providing mortgages for those who qualify. (KOKH/File)

During the government shutdown, the U.S. Department of Agriculture won't be able to approve mortgages, leaving some potential home buyers in limbo.

The USDA offers low-interest mortgages to people who qualify and live in rural areas, sometimes with no down payment.

Troy Hinkle has been planning to move into his dream house.

"I've already shot out some texts for people to help move," Hinkle said.

Just before closing the deal a couple of weeks ago, the great deal Hinkle thought he would get on his mortgage couldn't be finalized.

"We've cancelled our internet, we're lucky we're still in the apartment until towards the end of this month, but that's kind of where were at now," Hinkle said. "We've got our stuff in boxes. It's kind of being in that limbo state, not knowing what's coming just gives anxiety."

Hinkle found out he could get a better rate and save thousands on the home in Choctaw with a USDA mortgage.

"What's happening now is the people can't make the plans to move, because typically you have to have the mortgage in place and the down payment already processed before you're at a point where you're going to be moving to that location," said Brad Bertrand, an investment adviser at Retirement Solutions in Oklahoma City.

Bertrand says this delay at the USDA could affect a number of Oklahomans in the housing market.

"The USDA in many cases is designed for rural locations," Bertrand said. "Of course, here in Oklahoma, we have a large incidence of rural areas that people are applying for loans for. Oklahoma is one of the states that is hit harder than most."

When the USDA reopens, like other agencies, it will likely have a back log.

People getting mortgages from companies like Freddie Mac or Fannie May won't be affected.

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