There is no set maximum amount for a USDA Rural Development Loan. However, the total amount a person can borrow depends on a number of factors, including:
- Value of Home
- Monthly Income
- Debt to Income Ratio
In most cases, the maximum amount available for a USDA Loan will be equal to 100% of the appraised value of the home.
Because the eligibility requirements for a USDA Loan depend on a number of specific factors, including the county where the home is located, your current income and your credit history, it is important to work with a certified USDA Loan agent who understands your needs. For the answers to your questions, contact the USDA Loan Agency today.