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 Department of Agriculture Home Loans
How a USDA Loan can benefit you
USDA loans are for rural or agricultural communities. A lender underwrites and funds the loan according to specific guidelines and USDA guarantees the loan. Qaulifying borrowers recieve below market rate financing and favorable, 100% financing terms.
You may be suprised at what USDA considers a rural community. Below is a list of communities near Sacramento that qaulify. Be advised this is a very general and incomplete list, and you are invited to contact us to see if your scenario meets USDA guidelines.
| El Dorado County |
Placer County |
Sacramento County |
Solano County |
| Cameron Park |
Auburn |
Galt |
Attendale |
| Coloma |
Colfax |
Herald |
Dixon |
| Diamond Springs |
Foresthill |
Iselton |
Rio Vista |
| El Dorado Hills |
Kings Beach |
Locke |
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| Georgetown |
Lincoln |
Rancho Murieta |
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| Grizzly Flats |
Loomis |
Sloughhouse |
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| Placerville |
Meadow Vista |
Walnut Grove |
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| Pollock Pines |
Tahoe City |
Wilton |
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| Shingle Springs |
Tahoe Vista |
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| Stanislaus County |
Sutter |
Yolo County |
Yuba County |
| Knights Ferry |
Live Oak |
Esparto |
Loma Rica |
| Newman |
Nicolas |
Knights Landing |
Sheridan |
| Oakdale |
East Nicolas |
Winters |
Wheatland |
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The following counties are 100% elgible for USDA financing |
| Alpine |
Glenn |
Mendocino |
Sierra |
| Amador |
Inyo |
Modoc |
Siskiyou |
| Calaveras |
Lake |
Mono |
Tehama |
| Colusa |
Lassen |
Nevada |
Trinity |
| Del Norte |
Mariposa |
Plumas |
Tuolume |
Income Limits
USDA is a need based program. There is a basic income limit for one person households which increases to compensate up to an 8 person household. Please note underwriting methods of calculating income may differ greatly from your own, and the figures below are not a promise nor denial of your ability to get a USDA loan. As of 8/21/2008 the following maximum income limits apply:
| Persons in household |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| Maximum income* |
57150 |
65300 |
73500 |
81650 |
88200 |
94700 |
101250 |
107800 |
*If your household income is substantially lower, you may qaulify for additional benefits through USDA. Contact us for more information.
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A summary To review, a USDA loan offers the following benefits:
100% Financing, No down payment Attractive below market interest rates No Mortgage Insurance No maximum purchase price limit Flexible credit & qaulifying guidelines Some repairs can be included in the loan Gifts are allowed for closing costs
What are you waiting for?
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