Government shutdown may affect your financing

If you haven't heard, a partial government shutdown happened earlier today (midnight) and it may affect your financing if you are in the process of buying a home.  Here is an overview from the Virginia Association of Realtors.

CNN has the answers, but here’s the gist:

Fannie and Freddie will continue to operate. They aren’t funded by the government; they make their money via fees.

However, FHA, VA, and USDA loan applications won’t be processed.

The good news is that government shutdowns don’t tend to last very long. There have been 17 of them since 1976 — the longest lasted 21 days; the median was just 3 days.