USDA Rural Development Loans in Maryland
Consumer Real Estate is excited to let you know about the Rural Development Loan program. Backed by the United States Department of Agriculture, this no money down, fixed interest rate loan program was designed to help build and strengthen Maryland’s smaller, more rural communities.
If you live in Maryland and are looking for an affordable home loan solution, the USDA loan program may be for you. Benefits include:
- 100% financing up to the appraised value
- No private mortgage insurance for qualifying Maryland homes
- Flexible Maryland credit qualifications
- No Maryland loan amount limitations
Maryland Rural Development Loans – Not Just for Farmers
The best part about the USDA Loan program is that a wide range of property is eligible. While properties within major metropolitan cities do not qualify, properties located right next door to those same areas may qualify. To be eligible for a Maryland USDA Rural Development Loan, the property must:
- Be located outside of the city limits
- Have a population of less than 20,000 people
Maryland’s USDA Loan Income Limits by County
Eligibility restrictions for Maryland USDA Loans also include the county and zip code the property resides in, as well as, your past credit history and number of dependents.
In addition, because they are designed for families with moderate to lower incomes, the income of homebuyers looking into a Maryland Rural Development Home Loan cannot exceed their county’s set limit.
Consumer Real Estate wants to help you realize your dream of home ownership. For help applying for a Maryland USDA Loan, contact us today.