Home Buying in 91362>Question Details

Gatorca68, Home Buyer in Port Hueneme, CA

Is there any areas in Thousand Oaks or Camarillo, ca that you could use a USDA loan?

Asked by Gatorca68, Port Hueneme, CA Thu Nov 28, 2013

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In order to qualify for a USDA Loan your home must be located in a designated USDA rural area. Fillmore and Piru are the only 'rural' areas in Ventura County that are eligible for USDA loans. The USDA loan is designed for those buyers who do not qualify for other financing and do not have adequate housing. When an underwriter reviews your credit history on a USDA Loan the major thing they will be looking for is a history of paying your bills in a timely fashion. If you have had blemishes in the past they may be overlooked as long as you have reestablished your credit over the past 12 months. Generally, any open judgments or collections will need to be paid off before you close on your new home. A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you purchase a home with NO Money Down. USDA Home Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.

Check the map link and learn more at their website below:

http://eligibility.sc.egov.usda.gov/eligibility/welcomeActio…

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Good luck with this!
1 vote Thank Flag Link Thu Nov 28, 2013
Go over this with your Realtor and your lender to ensure you get the info straight from the source.
1 vote Thank Flag Link Thu Nov 28, 2013
USDA is mainly for low income borrowers in designated rural areas.
0 votes Thank Flag Link Thu Feb 6, 2014
USDA is mainly for low income borrowers in designated rural areas.
0 votes Thank Flag Link Thu Feb 6, 2014
We have a few areas here in Ventura County and surrounding area that could qualify. I am providing you with a link to click on for USDA Income and Property Eligibility Site. As a realtor, it is recommended that we guide you to the correct location as we are not professionals in the lending field:


http://eligibility.sc.egov.usda.gov/

Please call me if you have other questions with your home search once you are ready.

Blanca Dover, REALTOR
Century21 Hometown Realty
Cell: 805-427-5646
Web Reference: http://www.blancadover.com
0 votes Thank Flag Link Sat Nov 30, 2013
No. USDA loans are not for urban areas

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Thu Nov 28, 2013
Go over this with your lender.
0 votes Thank Flag Link Thu Nov 28, 2013
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