Special offer

Homes for Sale in Queen Creek AZ qualify for 100% financing with USDA

Real Estate Agent with Garrette Custom Homes SA537042000

USDA Home Loans

Queen Creek & San Tan Valley AZ Homes May Qualify For 100% Financing

Did you know there's still a mortgage loan option out there in today's housing market that allows a buyer to finance 100% of the home price? That's big, when almost every loan requires some kind of down payment. 

A USDA Home loan offers the following benefits to a Queen Creek AZ Home buyer:

ü  ZERO down payment 

ü  Lower monthly payments than most FHA loans

ü  Allows the Seller  or friend or relative to assist and pay for ALL Closing Costs

ü  Quick closing (as little as 30 days)

ü  You Could Potentially Move in With Less Out of Pocket Than Renting!

ü  Get your Earnest Money Deposit back at closing

ü  Minor repairs and eligible closing costs are also allowed to be rolled into the financing. This loan actually allows a little more than 100% in some cases, letting the borrower make some minor improvements. With your first home, there are often some projects you'll need to do after moving in.

ü  No pre-payment penalty. With no down payment requirements, you may end up with cash on hand to help you get ahead. In a couple years, you may find yourself ready to pay more and pay it off early. You won't be punished for this!

Do you qualify? 

There are only a few requirements that you must meet in order to be eligible for a USDA home loan

The first is that the home must be located in a designated USDA rural area, like Queen Creek AZ and San Tan Valley AZ. Check out this map of Queen Creek.  The areas South of E Germann Road and East of S Power Road are areas that qualify for the USDA Loan.

USDA Loan Qualifying Areas for Queen Creek


The good news is that if the Arizona home is located within a qualifying area, there are only a few other eligibility requirements to meet. While one is a credit evaluation, you should note that these guidelines are flexible – meaning that you must demonstrate the ability and willingness to meet obligations as they become due.  It is unusual that someone with a credit score below a 600 will qualify, however, it is not impossible.  If there is a specific credit score requirement, that would be a Lender specific requirement, not a USDA requirement. 

When you do select a home, the USDA requires that it be “modest in size, design, and cost.” Those are awfully vague requirements—their best clarification is that this judgment of modesty is relative to your area—but it shouldn’t come as a surprise: as a loan program that helps a broad spectrum of homeowners, the USDA wouldn’t want to subsidize excess. They’d rather use those funds to help more families. It follows that luxurious home features are ineligible for USDA help.

So.....for example: It is very common for someone to want to purchase a home with a private pool in AZ. Unfortunately, that is not so easy to do with a USDA loan....but it is NOT impossible. If someone is purchasing a home with a pool, the value that the appraiser gave for the pool in the appraisal is deducted from the appraised value to get the maximum loan amount. This ultimately means that the home must appraise to the full purchase price without adding any value for the pool.

The other issue is a maximum income limit.  In Queen Creek and San Tan Valley, AZ, USDA Home buyers do have income restrictions.  For Households of 1-4 persons, income cannot exceed $73,600.  For Households of 5-8 persons, total income cannot exceed $97,150. 

Also, you can’t have too much monthly debt.  Your debt to income ratios should fall in line with the 29/41 debt to income ratio, but exceptions can be made.  I have seen people qualify if their monthly debts plus future monthly house payment do not exceed 50% of their gross monthly income.  

If you are interested in purchasing a home in AZ and curious if you might qualify for a USDA loan, contact me today and I will connect you with some of the best approved USDA lenders in the mortgage financing biz…..and then we can start home shopping!

Posted by


C: 602-677-7977   F: 480-907-1916

E: azshortsalediva@gmail.com 

Search for Homes HERE 




linked in jessica sullimanjessica sulliman facebook yahoo messenger jessica sullimanYou Tube Veoh RE Videosjessica sulliman twitterMy status 


Don't let time slip away. Take action today.  Foreclosure is NOT an option!
Call Jessica Sulliman Phoenix Arizona Short Sale Agent for a confidential phone interview to go over your options to avoid foreclosure at 602-677-7977. 

Stop Foreclosure- Learn Your Options. Maybe a short sale is your best option. 

Maybe the bank will PAY YOU to short sell your home! We may be able to help you avoid foreclosure.


*Seek competent legal counsel and tax advice for any real estate transaction. Jessica Sulliman and Ashby Realty Group are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit. Your Lender may not agree to the change of your loan and/or a Short Sale.With a Short Sale, there are no guarantees offered and we cannot provide legal advice. Seek legal advice.*

About the Author...

This article  was provided by Jessica Sulliman, a Nationally recognized Realtor and Certified Short Sale & REO Specialist.  Jessica can be reached via e-mail at azshortsalediva@gmail.com or by cell phone or text message at 602-677-7977. Jessica has helped hundreds of people buy and sell their home.  For Arizona real estate and homes see www.jessicasulliman.ashbyrealty.com or www.theshortsalediva.com

Ashby Realty Group handles Arizona real estate sales, Arizona short sales, Arizona strategic short sales, Arizona pre-foreclosure sales, and Arizona foreclosures in the entire metro Phoenix area.  We specialize in the East Valley: Queen Creek, Gilbert, Chandler, Mesa, Scottsdale, Paradise Valley, Apache Junction, Gold Canyon, Tempe, Florence, San Tan Valley,  Ahwatukee, Anthem at Merrill Ranch resort community in Florence AZ. Serving all of Maricopa and Pinal counties Arizona. Arizona Short Sale Realtor. Short Sale Arizona 

Copyright © 2011 http://www.theshortsalediva.com  | All Rights Reserved

Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

I noticed you haven't posted on Active Rain for a while and was wondering if all is OK?  Come back to the 'Rain!

Oct 30, 2015 02:38 AM