To your question, basically everything south of Cross Country Road in Verona is eligible including the new homes south of the beltline.
As far as their definition of "modest", it is anything equal or less than the loan maximum for Dane County which is $225,000 the last time I checked. They will loan to both new and existing homes.
There are a few other great options with USDA that I can share with you.
All of Oregon, Cottage Grove, Cross Plains, and Waunakee are covered as well.
Madison Pro Realty
"home of the $1,000 signing bonus"
This is a question for a lender.......though you can look at information on a web page and assume you may or may not be qualified, it is best to seek out the attention of a local lender that understands the area. There are a lot of hidden disclaimers in the underwriting of all loans. I would hate to see you get your hopes up on a home and type of loan to later find out you do not qualify.
Seriously, lenders and/or realtors are professionals and want to help.....drop me an email if you want a lender referral.
Donna Birschbach - Broker Associate
#1 - sales volue 2009
Madison, WI 53719
As a genearl rule, Verona is an eligible area. Here is a link to the RHD program. Enter in the exact address and it will show you the eligibility.
Contact me with any questions that you have.