USDA Map Changes Near Charlotte NC

Effective October 1, 2013 the USDA Home Loan Maps in NC will be changing.  We have printed off the comparision of what works NOW and what will be in-eligible for the USDA Home Loan program this fall.  Belmont and Gastonia NC are areas close to Charlotte, NC that will see significant changes.

This state has grown Soooo much, that when the 2010 Census maps were drawn up, and analyzed, it showed that 21 Communities in NC was scheduled to lose the opportunity to get mortgage loans approved using the USDA Home Loan Program starting September 30, 2013. 

This map is the CURRENT USDA Home Loan Footprint.  You can clearly see that all of Belmont is within the USDA Home Loan Eligibility area.  Under it are the maps that are scheduled to go into effect October 1, 2013

The maps below reflect what the USDA Home Loan Map will look like for Gaston County, Belmont and Gastonia effective October 1, 2013

VIEW ALL USDA Underwriting Guidelines for NC

The USDA Home Loans Maximum Income Limits for Gaston County

• 1 to 4 people in the Household $78,800
• 5 or More in the Household $104,000

If you are applying for the NC First Time Home Buyer Program, there are different qualifying Income Limits and Sales Price Limits for Gaston County.  This program is for folks who are residents of NC and have not owned a primary residence in the past 3 years (so NOT just for First Time Homebuyers).

You may know people who have bought houses recently with a great FHA or Conventional loan in North Carolina.  And they may have gotten a great deal, but they still had to go to closing with a big fat check (A couple thousand dollars maybe?).  

Just know that with our USDA Loan program you wont be stuck like that.  You won’t need to worry about your Down Payment (since it’s a no money down home loan) and we’ll be sure that your USDA Loan Closing Costs are minimal.  

Don’t worry about needing to bring a big pile of cash to close... just know that you need to go ahead and decide which house you want - before the deadline of October 1, 2013!

Some of our clients buying with a USDA Home Loan put down an escrox check and then get most of that money back at closing! Having extra cash when you move into a new home can be a life saver!

If you are considering a no money down home loan, or you need more information about the USDA loan closing costs, call Steve Thorne 919 649 5058 – we do dozens of these mortgage loans each month in NC!  USDA Loan Frequently Asked Questions

Originally posted at NC FHA Expert