Since the government came to an agreement at the 11th hour on a federal budget! Your FHA/VA loan can settle on time. See since FHA and VA loans are funded by the government. If the federal government is shutdown these types of loans can’t settle.
For realtors and lenders who were in the real estate industry back in 1995 they know what I’m talking about. The reason why I bring this up is because of two reasons.
- Next year expect the same thing going into an election year. Democrats and Republicans will dig in even harder than this year on a budget. So I wouldn’t be surprised if there is a shutdown next year.
- In the last week interest rates have been rising. In 1995 the shutdown was for 3 weeks. So if rates rise during a gov shutdown. The customer might have to take a higher interest rate. If their lock in agreement has expired before they can settle on their home.