Will the Government Slowdown Affect Your Real Estate Deal?

FHA and VA are the most commonly affected programs as they are funded by the government. However, there is no change to the ability to complete VA or FHA loans due to the government shut down. Both departments will continue to operate and since most of what is needed is automatic, there should be little noticed as a result of the shutdown.

• Word of Caution – if the file has a “hair” on it or is difficult and an UW needs to speak to a live FHA person or get a specific answer from FHA – this is where it could take a bit longer. Normally they return calls and answer questions in 24-48 hours, with the shutdown and running a “skeleton” crew for FHA, then plan for longer time.
• I would give the deals an extra week or so to close if the government shutdown continues longer than the next few days.