Frederick County, Maryland - USDA Approved Zero Down Home Mortgage Loans

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Frederick County, Maryland - USDA Approved Zero Down Home Mortgage Loans

The Federal Government wants to help you purchase a house in Frederick County Maryland and has a loan program called the USDA Rural Development Mortgage Loan that offers first time buyers and move up buyers the ability to purchase a house with a zero down payment, a safe 30 year fixed rate mortgage, no monthly mortgage insurance requirements, and flexible sources to help out with your closing cost requirements. 

Best of all this loan program is available in the majority of Frederick County outside of the City ofFrederick County No Money Down USDA Rural Loan Frederick, Ballenger Creek, and Clover Hill.  The rest of the County is eligible for this fantastic No Money Down Loan program including Adamstown, Buckeystown, Ijamsville, Jefferson, Knoxville, Middletown, Monrovia, Mount Airy, and New Market. 

Compare the USDA Loan Program to FHA and USDA often wins.  While FHA requires a 3.5% down payment, USDA Loans require a $0 down payment.  While FHA requires a monthly mortgage insurance premium USDA loans require $0 monthly mortgage insurance premiums.  To determine the estimated cash savings by using the USDA Loan with No Money Down Vs. a comparable FHA loan program go to the online USDA Vs. FHA Loan Calculator.

So why doesn't everyone use the USDA Rural Development Loan when financing a home purchase in Frederick County Maryland.  There are two primary reasons, which are the geographic restrictions previously mentioned, and income limitations.  The USDA loan program is designed to assist moderate income households achieve the dream of home ownership and some households income exceeds what is allowed by the USDA Rural Development Loan.

Based on USDA defination of "moderate" home buyers making more than $92,600 with a family household size of one to four and $122,250 with a family household size of five or more may not qualify for the mortgage loan.  However the gross household income can exceed these thresholds provided there is an offsetting deduction to lower the actual income to less than $92,600 or $122,250 based on the family household size.  To compute the impact of the allowable USDA approved deductions against the household gross income use the Frederick County Maryland USDA Income Qualifying Calculator

If you have been considering purchasing a house in Frederick County and were concerned that the down payment would keep you from being able to obtain or afford your dream house or were planning on using a FHA loan for your home purchase consider the USDA Loan with its No Money Down Payment requirements, No Monthly MI or MIP, No Max on the Mortgage Amount, and with seller help No Out-Of-Pocket Cash Required at Settlement . 

To learn about the 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.

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