Indeed, you do not have to come from San Mateo or El Dorado to qualify. ‘The City of Angels’ and even San Francisco have non-metro areas that also qualify as ‘rural.’
Things are even better now because you can count on USDA Loans Direct to separate the chaff from the wheat as far as your particular county of residence is concerned.
How to Qualify in a Non-Metro Area
The best example is El-Centro. Here, you can access USDA mortgage CA as a four-member household at a limit of $74750. The minimum income is $28950 for the same area.
Purchase an Affordable Home in a Rural Region
Go south to San Diego and you will be with USDA Loans Direct as your application partner for USDA mortgage CA. You do not have to visit a physical office especially when you are in the hinterlands of the Golden State, north or south. Just give us a call and we will help you confirm the following details:
- That your area is in the register of Rural Development (RD).
- That you meet the AMI limits for your area for either the Guaranteed or Direct program.
- That your credit score is at least 620.
What Makes Your County Rural?
An area can be rural technically by virtue of population. People who live on the peripheries of large cities like Los Angeles also qualify for USDA mortgage California. Here are the specific items that qualify an area as rural:
- The town has 20000 but no more than 25000 inhabitants.
- The area’s average income is considerably low in comparison with other suburbia.
- The area is completely rural.
Benefits of USDA mortgage CA
There is nothing more reassuring than working with a USDA loan specialist who will ensure that you enjoy the following benefits.
- Probability of the seller absorbing all if not 6 percent of closing costs.
- Zero money down on your loan=100 percent LTV.
- A stable, permanent interest that lasts throughout the maturity period of 30 years.
- Refinance option using the Pilot Program.
If you are on the West Coast and looking for a deal that is better than a conventional mortgage, then USDA mortgage California is all you need. Virtually all cities in the Golden State have an area that qualifies for this government loan scheme. The Area Median Income for most counties ranges from $73600 to $74750 for a family unit that can house one to four members. You may also go for an eight-member family unit that is available with an AMI limit of $97 150.
Helpful links for you to review: