USDA Home Loans Greensboro, NC

USDA Home Loans in Greensboro, NC 27408 do not have a maximum loan amount – however, the property must be located within the USDA “Eligibility” area.
Here are maps of the Guilford County area, remember that the “faint pink” parts on the map do NOT qualify for USDA Loans.  All of the OTHER areas, however, DO qualify for the USDA RD Loan program.
USDA Loan Highlights:

• No Money Down Loans, Seller can pay closing costs
• In Ground Swimming pools are difficult to finance
• Credit Scores without NC Housing Aid must meet a minimum of 640, with NCHFA they can be as low as 600 (See Bottom of Page for more details on this First Time Home Buyer program available in Greensboro)
• Very low USDA PMI rates

USDA Home Loans near Raleigh NC

In the Triangle, we are lucky to have such a large area that qualifies for USDA financing on mortgage loans!  This program offers a 100% loan for homebuyers who qualify with properties located in the more “rural” parts of the area!

Does that mean it’s just for a FARM?  Oh NO!  This is for your home, not for income producing farms.  The loans do have a guarantee fee of @ 3.5%.  This means that if you purchase a home for $100,000 (I only use this example since I can do this math in my head) then you will have an additional fee of $3500 added to your loan.

 Remember, the USDA Home Loan Maps could be changing March 27, 2013… in fact, almost 1/3 of North Carolina could LOSE the ability to do USDA Home Loans! Yikes!