One Hundred Percent Financing with USDA Loans

One Hundred Percent Financing with USDA Loans

These days when doing a real estate home search in Charlotte, NC and the surrounding areas, you will see in many listings in the agent remarks, "This is a USDA home" or "This is a USDA builder".  What does that mean?  It means that the USDA is offering financing for that home or in that area.  This is appealing because the USDA is offering 100% financing!  That is incredible in today's market!

Some of the eligibility guidelines for the Direct Housing loans are as follows;

Must have between or below 50%-80% of the areas median income (AMI).

Must be unable to obtain a loan elsewhere, yet have reasonable credit histories. 

The loans are up to 38 years for those with incomes below 60% of the AMI, and 33 years for everyone else. 

Some of the eligibility guidelines for the Guaranteed Housing loans are as follows;

Applicants may have up to 115% of the median income for the area.

Reasonable credit histories.

They are 30 year loans.

There is no required down payment.

As of April 1, 2012 the estimated USDA loan amount limtis for our local North Carolina counties are;

Cabarrus  - $147,000.

Iredell  - $147,300.

Mecklenburg  - $152,400.

Rowan  - $146,800.

Union  - $144,000.

If you would like to see a USDA home, or if you would like to inquire about another counties loan limit amount, please do not hesitate to call me today.  Lisa Hines - Broker/Realtor in NC & SC  704.756.0874


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Phone: 704-957-0323
Dated: April 30th 2012
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