fbpx
usda-loan-requirements

what you need to know about

USDA HOME LOANS

USDA Loan Requirements, Eligibility Map, Loan & Income Limits For North Carolina

USDA Loan frequently asked questions

What are the USDA Loan Requirements?

The United States Department of Agriculture which is responsible for farming, forestry, food, and rural economic development also administers home loans. USDA home loans are designed to assist low income individuals who live in rural communities. However, in certain areas their coverage extends to more urban areas.  The program offers a zero down payment option so long as the borrower meets the criteria and the property that is being applied for qualifies for the USDA home loan. Qualifying properties must be modestly sized with no in-ground pool, they must be already built, and they must be in an area that qualifies for the USDA program. If you want to know if the property that you’re applying for qualifies for the USDA program you can The USDA Loan Limit for the North Carolina Triad area is $265,400 which is the same for all twelve counties within the triad area. Fed Home Loan Centers can be contacted if you need assistance in determining whether your property qualifies for the USDA loan program.  
USDA Loan Requirements
Each county has different income eligibility. This also is calculated based on the number of people in the household, the number of residents under 18, disabled or full-time students. If the loan Appliance or Co-Applicant of the age of 62 or older. And if there are any disabled persons living in the household.  This can be calculated on the USDA site

What areas are eligible for USDA Home Loans?

    The United States Department of Agriculture website provides a USDA Property Eligibility Map. Be sure to check the eligibility map for each potential property you may be interested in. THe USDA property eligibility map boundaries can change and some neighborhoods may have some homes that are USDA approved and others that are not.

What  the Single Family Housing Income Limit for USDA Loans?

    Each county has different income eligibility. This also is calculated based on the number of people in the household, the number of residents under 18, disabled or full-time students. If the loan Appliance or Co-Applicant of the age of 62 or older. And if there are any disabled persons living in the household.  This can be calculated on the USDA site
USDA-Loan-Income-Limit
USDA-loan-Requirements

What are the other USDA Loan Requirements?

Applicants must:
  • Meet income-eligibility (cannot exceed 115% of median household income)
  • Agree to personally occupy the dwelling as their primary residence
  • Be a U.S. Citizen, U.S. non-citizen national or Qualified AlienReq

What type of property can I get a USDA loan for?

      • First and foremost, the home must serve as your
    primary residence. Fortunately, many property types are eligible for USDA loans apart from purchasing a pre-existing home, such as:
  • New construction
  • Manufactured or modular homes
  • Condos and townhouses
  • Short sales and foreclosed homes
USDA loans cannot be used for investment properties,  working farms, rental or secondary homes, vacation homes, and other income-producing properties can not use a USDA loan. If a property has barns, silos, stables, etc USDA will loan as long as it will not be used in a commercial fashion.
usda-loan-property-type

see our preferred lenders

search for homes

USDA loan eligibility map

WANT TO SELL A HOME?

Fill out this form and we’ll give you an idea of your home’s value.
Brush Strokes Landing Page

ABOUT MANTLE REALTY

Mantle Realty is a leading independent real estate firm based in the Triad of North Carolina. Mantle is passionate about providing clients with  cutting edge technology and hometown service, whether they are buying or selling a home.

Many of Mantle Realty’s agents have lived in the areas they serve their entire lives, and love turning their clients into their neighbors. With offices in Greensboro, Lexington, and Welcome, Mantle is equipped to cover all of the Triad with convenience and care.