I would like more information regarding the USDA home loan program. I am aware that its a loan and it can

Asked by Eviee, Lemoore, CA Sun Jun 15, 2008

only be utilized in a rural community, like Lemoore, Armona, etc. Is there an eligibility requirement? If, so what are they? I would really appreciate if someone would be able to help me with this.

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Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Sun Jun 15, 2008

I felt compelled to answer your question since my aunt lives in Lemoore and is married to one of the local mail carriers. She loves this town and its people, and by extension, so do I. Hope this helps.

For more information on USDA home loan program go to http://eligibility.sc.egov.usda.gov. Down the left side of the page are links to income eligibility, income limits, loan program basics, and how to contact the agency that oversees the program. If you find you and the property you are looking at are eligible, then go to the contact us, and click the guaranteed or direct link, based on your eligibility.

As an example, for a family of 4 with two wage earners and two dependents, the maximum adjusted household income allowed for Section 502 Guaranteed Rural Housing Loan Program in Kings County, California is: $70,750.00. For Section 502 Direct Rural Housing Loan Program the Maximum Adjusted Household Income is $43,050.00 .

Best of luck to you in finding your perfect home and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes
3 votes
Jimmy W. Hill, , Livonia, MI
Sun Jun 22, 2008
USDA in general looks at an area or city as rural or not. So just because you are in a subdivision doesn't make you ineligible for USDA as most of the surrounding areas may be rural so USDA grants eligibility to the whole town. The credit guidelines are less restrictive than conventional. You can put zero down and finance or have the seller pay the closing costs. In some instances you can even get money for home appliances or improvements.

If you have a 620 or better score you can get away with open collections, recent bankruptcies or foreclosures. Below 620, USDA is looking for about 12 months of on-time credit payments. It's a very good program and if you are not in what you would term a metropolitan area you will probably be eligible.

Jimmy W. Hill
Chief Information Officer
National Home Lending
2 votes
Ron Thomas, Agent, Fresno, CA
Sat Jul 20, 2013
0 votes
Roy Bush, Both Buyer And Seller, Phoenix, AZ
Sat Jul 20, 2013
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. I introduced a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes
Essex Mortga…, , Santa Rosa, CA
Mon May 24, 2010
A home purchased through the USDA home loan guarantee program must be located in a qualified rural area. Qualified rural area is defined as open country places, and homes in cities with populations of 10,000 or less. Under certain conditions, the home may be located in towns and cities of 10,000 to 25,000 in population. If you have questions regarding whether a potential home is in a qualified area speak with a representative from a USDA
0 votes
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