What a Government Shutdown Means for Buyers and Sellers in Today’s Market

If you’ve been following the news, you’ve probably heard about the possibility of a government shutdown. But what does that actually mean if you’re buying or selling a home in Northeast Ohio right now?

Here’s the breakdown:

For buyers using FHA, VA, or USDA loans, a shutdown could slow things down. These programs rely on government staff to process approvals, and if those employees are furloughed, files don’t move as quickly. Even conventional buyers could see some hiccups since lenders often need IRS transcripts or government employment verifications, which may not be processed during a shutdown.

The good news? Conventional loans through Fannie Mae and Freddie Mac, as well as most private lenders, keep moving. So while timelines could stretch a bit, deals aren’t grinding to a halt. The key is knowing what type of loan you’re using and being proactive with your lender and agent.

For sellers, this means setting clear expectations with buyers. If they’re using a government-backed loan, there’s a chance closing could take a little longer than planned. Being prepared on your side keeps frustration low and deals intact.

At the end of the day, a shutdown doesn’t mean real estate stops — it just means we need to plan ahead and stay on top of the details.

Thinking about buying?

Let’s make sure you’re choosing the right loan for your situation. Schedule a call with me today.

Selling your home?

Get a clear strategy and timeline so your deal doesn’t stall. See how The Ganim Group can help.