I'd like to buy a house that is located near San Jose/Milpitas/Santa Clara County and is qualified for USDA Rural zero down purchase loan.

Asked by tvu2020, San Jose, CA Wed Nov 21, 2012

Please help I'am currently living in Olympia, WA.
I'll be retiring in 6-8 months and would like to move to San Jose/Milpitas/Santa Clara County after retiring. Please send your reply to tvu2020@gmail.com. Thank you.
Tuan Vu

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Terri Vellios, Agent, Campbell, CA
Thu Nov 22, 2012
BEST ANSWER
You will more likely find USDA qualified properties in Santa Cruz County. San Jose/Milpitas is not rural. The USDA website has a map showing the areas which qualify.

One of the challenges buyers face today is that our real estate inventory is very low and the competition is quite high. USDA financing will not be a benefit on most properties in demand.

Doing your homework now is good, as we don't know what our market will be like in 6-8 months. Getting your loan approval done ahead of time and knowing the areas to purchase will help.

To put to Perspective, as I used to live in Anacortes, WA and I know you can buy a new single family home in Washington for $200,000. In Santa Clara County you'd be lucky to buy a 1 bedroom condo for that.

I don't want to discourage you only give you some perspective.
Web Reference:  http://www.terrivellios.com
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