Unless you want to buy a house in the immediate city limits of Reading, you may be able to buy a house in Berks County, Pennsylvania with no down payment by using the USDA Rural Loan program.
USDA is also the only major mortgage program that allows home buyers to finance any closing costs into the loan amount. This allowable as long as the appraised value supports the needed loan amount. You can also negotiate for the seller to pay the closings costs. The USDA will allow the seller to pay up to 6% of the sales price towards your closing costs.
Areas of Berks County that are eligible for a USDA Loan
Berks County Eligible Areas
Country Ridge Estates
Mill Creek Corner
any obvious rural locations
Berks County USDA Income
The USDA sets income limts according to census data. If your income is a littleabove the below listed figures, there are a few deductions that may help you qualify.
Berks County USDA Credit Rules
Your approval will be more streamlined if your credit score is at leat 640. It is possible to get approved with credit scores less than 640, but your approval will be more scrutinized and you will need to document your current housing payment history by showing at least 12 months of timely payments through a checking account.
To explore all you need to know about buying a home in Berks County PA with the USDA loan program, feel free to reach out and call or visit Berks County USDA Loan.