To apply for a USDA loan, you’ll first need to determine if you qualify. Consult the USDA property and income eligibility maps. If you meet those parameters, next consider whether you’ll want or need a guaranteed or direct loan.
More USDA Loan Resources Check Your Eligibility for a USDA Loan Get a USDA Loan Quote 2018 USDA Loan Requirements USDA Loan Income Calculator USDA Loan Property Eligibility Map
A USDA home loan is a government-backed mortgage that allows home buyers to purchase a property in a rural region of the United States with no down payment. It is overseen and managed by the USDA Rural Development (RD) division, whose mission is to promote homeownership in order to create...
USDA Eligibility Map One of the unique requirements of the USDA Home Loan is that it requires buyers to purchase a home in a qualifying area. To determine if a property is in an eligible area the easiest thing to do is use the USDA Loan eligibility map on the USDA website. Eligible are...
3. USDA Property Eligibility For a property to be eligible for a USDA Rural Development Loan, it has to be located in an approved area, as defined by the USDA. The phrase “Rural Area” can be loosely applied, meaning thousands of towns and suburbs of cities across America are eligible ...
rural area. The USDA provides an online tool called the “USDA Property Eligibility Map” that can help you determine whether your desired location qualifies. Mine is a great place to qualify for a USDA RD mortgage as most of Maine is considered Rural. Tip: Avoid Portland, Lewiston, Auburn...