Home buyers in Tioga County, Pennsylvania can purchase a home with No Down Payment required using the USDA Loan Program. The USDA program allows the seller to pay up to 6% of the sales price towards the buyer's closing costs and the closing costs can also be financed into the loan amount depending on the appraised value. As a result, many USDA loan transactions can be structured with no money at all due from the buyer at closing.
All of Tioga County is eligible for USDA
USDA loans, also known as Rural Development loans, are available in areas deemed by the U.S. Census maps as Rural. Tioga County meets this definition.
Tioga County Eligible Areas
all other areas
USDA Loan Income Requirements
The USDA has income restrictions that are set for each Pennsylvania County. You need to show enough income to qualify but not too much income.
USDA Credit Requirements
If your credit score is at least 640, you USDA loan has a better chance of approval. Credit scores below 640, can get approved on a case by case basis. If your is below 640, the USDA underwriter will require that current housing history be documented with either cancelled checks or other evidence of payments made through a bank account.
To go more in depth on your options for qualifying for a USDA Loan in Tioga County, Pennsylvania visit Tioga County USDA.