Caroline County Maryland - USDA Rural Development Home Mortgage Loan - No Money Down

Mortgage and Lending with Millennial Home Loans, LLC NMLS #133925

Caroline County Maryland - USDA Rural Development Home Mortgage Loan - No Money Down

Caroline County home buyers don't have to let a down payment stand in the way of becoming a home owner thanks to the Zero Down Payment, 100% Finance, USDA Rural Development Loan Program.  Imagine buying a home in Bethlehem, Denton, Federalsburg, Goldsboro, Greensboro, Henderson, Marydel, Preston, Ridgely or anywhere for that matter in Caroline County with No Money Down, the ability to have the seller pay all closing costs, and zero monthly MIP.

There are a couple underwriting guidelines that borrowers have to be aware of which include:

  • minimum credit score of 620
  • household income can't exceed $89,150 for a family size up to four and $117,700  for a family size of five or more
  • the property can't include an in-ground swimming pool
  • appraised land value of can't exceed 30% of the overall property value

The Caroline County USDA Rural Development loan program website for just the state of Maryland provides valuable tools to to calculate the:

  • Caroline County Adjusted Gross Income for households that exceed the $89,150 and$117,700 limitations previously mentioned.  The Caroline County USDA Income Qualifying Calculator is important since USDA Rural Development allows for certain "deductions" as an offset to the gross income for qualification purposes.
  • the upfront and monthly cash savings when using USDA Vs. FHA mortgage by having a 0 Vs. 3.5% down payment requirement and Zero Mortgage Insurance Premium Vs. A Monthly Mortgage Insurance Premium

Bottom line by using the USDA no money down Rural Development Loan Caroline County home buyers will be able to purchase more house for the same payment than a comparable FHA loan.

To learn about USDA Rural Development Mortgage Loan go to or call (410) 552-5912 so you can quickly get answers to your mortgage loan questions and determine your eligibility for the USDA No Money Down Loan Program.

Comments (1)