USDA Pushes Back Credit Checks for Housing – Snooze Fest
Published Date: 1/29/2025
Rule
Summary
If you’re involved with USDA’s Multifamily Housing programs, heads up! The new rules about how credit reports are checked got pushed back by 60 days, now kicking in on March 31, 2025. This gives everyone more time to get ready without rushing, keeping things smooth and fair for all applicants.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Multifamily Housing Credit-Report Delay
If you work with USDA’s Multifamily Housing programs, the rule changing how credit reports are obtained will take effect on March 31, 2025 instead of January 30, 2025 — a 60-day delay. This gives applicants and program participants more time to prepare for the new credit-report process.
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