USDA Loans Offer 100% Financing In Rural Areas

The USDA Home Loan is a little known mortgage option available to home buyers in rural areas of California and the rest of the U.S.   And there are a lot of areas that are considered rural, even areas that are less than 1 hour drive from cities like San Diego, Los Angeles, San Francisco, and San Jose.  This is really a super loan program that not many take advantage of because they don’t know about it.

Advantages of USDA Home Loan:

• 100% financing, NO down payment required
• No monthly mortgage insurance (unlike FHA and conventional loans (with <20% down) that carry monthly mortgage insurance
• Great 30 year fixed interest rates
• You do not have to be a first time home buyer to get this loan
• Seller can pay for all your closing costs

Here are some other factoids about USDA Home Loans:

• Your income needs to be within 115% of the area median
• Has to be your primary residence and 1 unit only

Here is an example of some areas in California that qualify for USDA Loans:

San Diego County

• Alpine, Ramona, Valley Center, Campo, Julian, Rainbow, Pauma Valley

Riverside County

• Desert Hot Springs
• Coachella
• Sun City
• Winchester
• Idyllwild

San Bernardino County

• Lake Arrowhead
• Big Bear

Imperial County

• Almost the entire county

Sonoma County and Napa

• Windsor, Healdsburg, Guerneville, Calistoga, St. Helena, and much more

Contra Cost, Alameda, Solano

• Byron, Rio Vista, Isleton

Placer, Sacramento, San Joaquin, El Dorado

• Lincoln, Auburn, Ripon, Lathrop

Central Valley Counties

• Tehachapi, lots of the towns surrounding Bakersfield, Fresno, Modesto, Merced, Redding and more qualify

Monterrey, Santa Cruz, San Luis Obispo, Santa Barbara, Ventura

• Boulder Creek, Scotts Valley, Moss Landing, Prunedale, San Juan Bautista, Paso Robles, San Miguel, Morro Bay, Solvang, Santa Ynez, Carpentaria, Ojai

That is just a brief example of some areas.  In the rural counties of the state, you can assume most of the county is eligible. 

So give us a call or email today if you have any questions about USDA Rural Development Home Loans.  Direct 858-922-7899 and email rob@affinity-financial.com.

Warm Regards,

Rob Chomentowski

Sr. Loan Officer

rob@affinity-financial.com

858-922-7899 (direct)

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Tagged as: 30 Year Fixed Interest Rates, Carpentaria, Conventional Loans, Desert Hot Springs, First Time Home Buyer, Fixed Interest Rates, Imperial County, Isleton, Lake Arrowhead, Mortgage Option, Moss Landing, Pauma Valley, Prunedale, San Bernardino County, San Juan Bautista, Scotts Valley, Sonoma County, Time Home Buyer, Usda Loans, Valley Counties