Thanks, Keane! We specialize in the USDA loans.

Awesome Claire! You know your USDA for your area!

Author, if I'm considering a USDA loan in your area, I would give Claire a call.

In the state of Tennessee, USDA wants to see homes with 10 acres or less. In Putnam County, a family of 1 to 4 people can make up to $73,600/year; a family of 5 to 8 people can make up to $97,150/year.

Income limits vary by county. There are numerous adjustments to income that are allowed as a way to reduce the household's gross income so as to qualify. It's important to work with an experienced USDA loan officer who knows these guidelines.

It's pretty clear you have a property in mind. Hopefully it fits USDA guidelines.

All of the information given so far is really good. One thing to also look into is how much money you make. As funny as it sounds, you can make TOO MUCH money to qualify. This loan program is really designed for low-to-moderate incomes which are calculated by your area.

The USDA eligibility website also has the median income allowed for a USDA loan in your area. See the web reference.

Hi, I'm a USDA lender, and here's a link to all the USDA eligibe areas within Putnam County. http://www.memphisowners.com/TNPutnamUSDA

With USDA, you can finance your home with no down payment (100% financing), but USDA likes to see homes with 10 acres or less. If you're willing to purchase a home with 10 acres or less, USDA is a great home loan program for you.

Please give us a call at 901-212-5095. We specialize in USDA loans for AR, MS, and TN.

Sir,

As for 100% Financing as Julia stated is mostly VA loans. Your loan becomes more difficult with acreage over five acres. The home will have to carry around 70- 80% of purchase, to qualify for most loans. I called for a property with sixteen acres and a home and the first question the lender asked is," How much is the house worth verse the land value?" Any lender will want to how much value (approx) is in the dwelling. Just an insight on the kind of information any lender is going to want.
Need assistance on a list of finicial providers send me an email or give me a call. 866.267.3629. Good lcuk with your home sale and search.

Try a Rural Development loan. Call around to some local lenders and ask if they offer it. That's probably going to be your best bet. Not many 100% programs out there these days (unless you are a veteran).