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Real Estate Agent with First Class Properties


Things to know about!


USDA: Rural Development

Guaranteed Rural Housing Program


  • Must be a fixed rate loan for 30 years
  • Must be compliant with VA rate plus 60 basis points
  • No maximum mortgage limit
  • Adjusted Income Limits:
            Kent County & Sussex County:

                        1 to 4 people: $74,050
                        5 to 8 people: $97,750

        New Castle County:

                        1 to 4 people: $89,500

                        5 to 8 people: $118,150

  • You must be planning to occupy the dwelling on a permanent basis
  • Can not presently own a dwelling in the local commuting area (within 50 miles from present employment).
  • You do NOT have to be a first time home buyer.
  • No minimum credit score but there are unacceptable indicators.
  • Credit score of 620 or higher qualify for streamlined documentation. This means no documentations or explanations will be required for any problems on credit history (except Federal debt or Agency Loan).
  • Credit is always evaluated on a case by case basis.
  • A guarantee fee of 2% is charged by the Rural Development to the total loan amount.
  • This fee can be included in the loan, so the maximum loan amount may be 102% of the appraised value.
  • Closing costs & lender’s fee may also be included in the loan amount, but only if the appraisal value of the property allows.

Comments (3)

Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495


Good job on this informative post! 

Mike in Tucson

Sep 16, 2009 05:14 PM
Kayla Pearce
First Class Properties - Milford, DE
Real Estate Agent - Milford Delaware

Thanks, its kinda boring, no picture, etc, but I wrote it so that when people on facebook ask me abou it, I can just copy & Paste the link. :D

Sep 17, 2009 01:26 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

We send a post a week to our FB readership. Good news for this post - http://actvra.in/4hVj  !!!

Jun 24, 2014 08:34 PM