Alabama USDA Rural Development USDA Loans No Money Down Rural Housing

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

Alabama USDA Rural Development USDA Loans No Money Down Rural Housing

The USDA loan program is available to Alabama moderate income households purchasing a home in a USDA Rural Development designated area.  Alabama rural housing maximum household income and county eligibility requirements for USDA Loans are now available in one convenient location at USDARuralLoan.com.

 The benefits USDA Loans are as follows:

  • $0 Down Payment RequiredRural Housing USDA Loans No Money Down with Alabama USDA Loans
  • $0 Monthly Mortgage Insurance Premiums on your USDA Loan
  • $0 Cash required is possible at Settlement since:
    • the Alabama USDA Loan allows the seller to pay unlimited closing cost to cover the buyers closing costs and escrows
    • if the house appraises for more than the purchase price the difference between appraised value and purchase price can be used to cover a home buyers closing cost and escrows.  The Alabama USDA Loan is the only loan program that allows for the appraised value to be used to establish the maximum loan amount
    • USDA Loan allows a combination of these two
  • Extremely flexible credit requirement with a minimum 640 middle credit score
  • House types allowed include single family homes, townhomes, and condominiums

USDA Loan - AlabamaThe Alabama USDA Loan Program is the best no-to-low down payment mortgage payment for borrowers who aren't eligible for the VA Loan.  Compared to a FHA Loan, the USDA Rural Loan doesn't require a down payment and no monthly mortgage insurance premium.  The cash flow savings achieved by using the USDA Loan can be determined by using the USDA Vs FHA Cash Savings Calculator.  Borrowers will find when using the USDA Loan Program, even though the loan amount is larger (since there isn't any down payment), the monthly payment is LESS.

Call USDARuralLoan.com at (866) 747-2882 to determine your eligibility for this No Money Down Loan Program.  And if your income exceeds the limits listed below use the online USDARuralLoan.com Loan Maximum Calculator or call us and we still may be able to approve you for USDA Rural Loan.

Alabama County Specific Information

                       Maximum Income Allowed                 Geographic Restrictions

County Family Size 1 -4  Family Size 5 Plus Eligible Exclusions
Autauga  74,050 97,750 Partially Eligible
Baldwin  74,050 97,750 Partially Eligible
Barbour  74,050 97,750 100% Eligible
Bibb  74,050 97,750 100% Eligible
Blount  74,050 97,750 100% Eligible
Bullock  74,050 97,750 100% Eligible
Butler  74,050 97,750 100% Eligible
Calhoun  74,050 97,750 Partially Eligible
Chambers  74,050 97,750 100% Eligible
Cherokee  74,050 97,750 100% Eligible
Chilton  74,050 97,750 100% Eligible
Choctaw  74,050 97,750 100% Eligible
Clarke  74,050 97,750 100% Eligible
Clay  74,050 97,750 100% Eligible
Cleburne  74,050 97,750 100% Eligible
Coffee  74,050 97,750 100% Eligible
Colbert  74,050 97,750 Partially Eligible
Conecuh  74,050 97,750 100% Eligible
Coosa  74,050 97,750 100% Eligible
Covington  74,050 97,750 100% Eligible
Crenshaw  74,050 97,750 100% Eligible
Cullman  74,050 97,750 100% Eligible
Dale  74,050 97,750 Partially Eligible
Dallas  74,050 97,750 100% Eligible
De Kalb  74,050 97,750 100% Eligible
Elmore  74,050 97,750 Partially Eligible
Escambia  74,050 97,750 100% Eligible
Etowah  74,050 97,750 Partially Eligible
Fayette  74,050 97,750 100% Eligible
Franklin  74,050 97,750 100% Eligible
Geneva  74,050 97,750 100% Eligible
Greene  74,050 97,750 100% Eligible
Hale  74,050 97,750 100% Eligible
Henry  74,050 97,750 Partially Eligible
Houston  74,050 97,750 Partially Eligible
Jackson  74,050 97,750 100% Eligible
Jefferson  74,050 97,750 Partially Eligible
Lamar  74,050 97,750 100% Eligible
Lauderdale  74,050 97,750 Partially Eligible
Lawrence  74,050 97,750 100% Eligible
Lee  74,050 97,750 Partially Eligible
Limestone  78,200 103,200 Partially Eligible
Lowndes  74,050 97,750 100% Eligible
Macon  74,050 97,750 100% Eligible
Madison  78,200 103,200 Partially Eligible
Marengo  74,050 97,750 100% Eligible
Marion  74,050 97,750 100% Eligible
Marshall  74,050 97,750 100% Eligible
Mobile  74,050 97,750 Partially Eligible
Monroe  74,050 97,750 100% Eligible
Montgomery  74,050 97,750 Partially Eligible
Morgan  74,050 97,750 Partially Eligible
Perry  74,050 97,750 100% Eligible
Pickens  74,050 97,750 100% Eligible
Pike  74,050 97,750 100% Eligible
Randolph  74,050 97,750 100% Eligible
Russell  74,050 97,750 Partially Eligible
Shelby  74,050 97,750 Partially Eligible
St. Clair  74,050 97,750 Partially Eligible
Sumter  74,050 97,750 100% Eligible
Talladega  74,050 97,750 Partially Eligible
Tallapoosa  74,050 97,750 100% Eligible
Tuscaloosa  74,050 97,750 Partially Eligible
Walker  74,050 97,750 100% Eligible
Washington  74,050 97,750 100% Eligible
Wilcox  74,050 97,750 100% Eligible
Winston  74,050 97,750 100% Eligible

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Topic:
Lending / Financial
Location:
Alabama
Groups:
Alabama Realtors Innovation Station
USDA Rural Development Loan Group
Tags:
alabama
no money down
rural housing
usda loan
usda loans
usda rural loan
alabama usda loans
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David Zuckerman

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