Cary NC  USDA Rural Housing Loans- Not So Rural!

In Cary NC USDA Rural Housing Loans - Not So Rural.  When I think of rural I think of farms, open fields, neighbors in the far distance.  

Turns out according to the USDA areas in Wake County that are quite developed are still eligible for USDA rural loans.  

Check out USDA Rural Eligibility Maps to see if an area you're considering qualifies.  You may be surprised.

What are the benefits of a USDA Rural Loan:

• 100% Financing
• No Monthly Mortgage Insurance
• 3.5% Fee Financed (can finance 103.5%)
• Minimum 620 Credit Score
• Gift Allowances
• Buyer Does Not Have to be a First Time Buyer
• Primary Residential Purchase
• Competitive Pricing (Similar to FHA)
• No Minimum Borrower Iinvestment Required
• Unlimited Seller-paid Closing Costs
• No Reserves Required
• Household Income Limits Apply*
• Property Must Be Located in a Rural Designated Area (see map)

* In the Raleigh/Cary a family of 1-4 income limit $89,350
                                  a family of 5-8 income limit $117,950

Looking to live on the outskirts of town?  You may qualify for a USDA Rural Loan in the Cary NC area. Contact me to see if you qualify!

Are you looking for a REALTOR that is:

• a former teacher that knows the schools system
  
• has lived in the area for over 15 years
• has the expertise to get the job done?

                     Let me GOOGLE one for you! - click here

Cary NC  USDA Rural Housing Loans- Not So Rural!  was first published on CaryRealEstateBlogger.com - a blog by Linda Lohman