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100% USDA Mortgage in Perry County, Pennsylvania

By Keith Landis

Mortgage and Lending with Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 NMLS# 137243

August 24, 2010 07:15 AM

Looking to buy a home in Perry County, Pennsylvania?

You might want to make a quick check to see if you and the property are eligible for a Pennsylvania USDA Mortgage, also known as a Pennsylvania USDA Rural Development Loan.

Here's Why...

USDA home loans offer a few benefits that other mortgage programs cannot match, including no down payment and financed closing cost. If the home appraisal allows, the closing costs can also be wrapped into the mortgage resulting in no money needed at the closing table.

USDA is the only mortgage program that allows for all closing costs to be financed into the loan amount on a home purchase. Interest rates for USDA mortgages are comparable and often lower than the low fixed rates of Conventional, FHA and VA financing.

The USDA Mortgage program does have restrictions when it comes to location and income, so a quick check on this key qualifying criteria should be done first.

USDA Mortgage Perry County Pennsylvania

Benefits of the USDA Mortgage Program

True 100% no money down financing.
The ability to finance in your closing costs (if the appraised value supports the loan amt)
The seller may contribute up to 6% of the purchase price towards your closing costs
Low fixed interest rates.
More flexible credit qualifying guidelines with minimum 620 credit score
Often available for properties in towns and suburbs too

What areas of Perry County are eligible for USDA Financing?

ALL of Perry County is zoned as USDA eligible.

USDA Eligible Areas in Perry County include...

Acker
Alinda
Andersonburg
Bailey
Blain
Bixler
Bridgeport
Center Square
Centerville
Centre
Cisna Run
Couchtown
Cove
Crums Corners
Dellville
Donnally Mills
Dromgold
Duncannon
Elliottsburg
Erly
Eshcol
Falling Spring
Fort Robertson
Glenvale
Gramere
Half Falls
Ickesburg
Juniata Furnace
Keystone
Kinkora Heights
Kistler
Landisburg
Little Germany
Liverpool
Losh Run
Loysville
Mannsville
Markelsville
Marysville
McKee
Mecks Corner
Millerstown
Milltown
Montebello
Montgomery Ferry
Mount Patrick
Mount Pleasant
Nekoda
New Bloomfield
New Buffalo
New Germantown
Newport
Oakgrove
Old Ferry
Perdix
Pfoutz Valley
Pine Grove
Reward
Rose Glen
Roseburg
Saville
Seyoc
Shermans Dale
Stony Point
Sundy Place
Wahneta
Walnut Grove
Wardville
Wila
all areas

What are the USDA Mortgage Income Limits for Perry County?

Household Size: 1-4 Family Members 5 or more Family Members

Maximum Adjusted Income $74,050 $97,750

If at first glance, it appears your household income exceeds the above limits, it is worth checking the USDA Income Calculator on the USDA website (link below). The USDA allows for several deductions which may allow your Household Income to fit within their Maximum Adjusted Income Guidelines.

USDA Income Eligibility Worksheet

Ok, the Property is in a USDA Eligible Area and your Household Income is within the USDA Income Limits, now what?

Like all mortgages, USDA Mortgages do require an applicant to qualify based on recent credit history. USDA credit requirements are some of the most flexible of any mortgage program available. More detailed information about USDA Mortgage Credit Requirements can be found with the link below...

USDA Credit Requirements

For buyers looking to purchase a home in Perry County Pennsylvania, the USDA Rural Development Mortgage is definitely worth a look. Feel free to contact me with any further questions about the program.