With the downturn in Arizona’s real estate market, there really has never been a better time to buy a home. The good news is that with the USDA Loan Program, traditional hurdles like strict credit guidelines and large down payments no longer have to hold you back from realizing your dreams of the homeownership. For Arizona residents who want the security of a government backed loan, but do not qualify for a traditional loan, the USDA Home Loan program offers a viable alternative, including:

  • 100% Financing Up to the Appraised Value
  • New and Existing Homes are Eligible
  • No Maximum Loan Amount
  • Low Fixed Interest Rates

Arizona Areas that Qualify for a USDA Loan

The USDA Loan program is often referred to as the Rural Development Loan Program. Take note, however, that this does not restrict qualifying homes to farmland. Instead, to qualify, the property in question simply has to be located outside the limits of a major city and in an area of 20,000 residents or less.

So while a house located directly in Phoenix may not qualify, a house located just outside the surrounding metropolitan area may qualify. For more information, Consumer Real Estate Finance Co. offers a USDA property eligibility wizard.  Or, you can call one of our certified USDA loan agents at 1-866-854-4242.

Arizona’s USDA Loan Income Limits by County

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 USDA Loan Credit History guidelines are flexible – meaning that you must demonstrate the ability and willingness to meet obligations as they become due.

The other is a maximum income limit.  Your income cannot exceed the limit set for your county:

STATE:ARIZONA PROGRAM 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Flagstaff AZ MSA VERY LOW INCOME 23200 26500 29800 33100 35750 38400 41050 43700
LOW INCOME 37050 42350 47650 52950 57200 61400 65650 69900
MOD.INC-GUAR.LOAN 76100 76100 76100 76100 100450 100450 100450 100450
Lake Havasu City-Kingman AZ MSA VERY LOW INCOME 20650 23600 26550 29550 31900 34250 36600 38950
LOW INCOME 33100 37850 42550 47300 51100 54850 58650 62450
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Phoenix-Mesa-Glendale VERY LOW INCOME 23350 26650 30000 33300 36000 38650 41300 44000
LOW INCOME 37300 42650 47950 53300 57550 61850 66100 70350
MOD.INC-GUAR.LOAN 76600 76600 76600 76600 101100 101100 101100 101100
Prescott AZ MSA VERY LOW INCOME 20200 23100 26000 28850 31200 33500 35800 38100
LOW INCOME 32300 36900 41550 46150 49850 53550 57250 60900
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Tucson AZ MSA VERY LOW INCOME 21150 24200 27200 30200 32650 35050 37450 39900
LOW INCOME 33800 38650 43450 48300 52150 56050 59900 63750
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Yuma AZ MSA VERY LOW INCOME 17250 19700 22150 24600 26600 28550 30550 32500
LOW INCOME 27550 31500 35400 39350 42500 45650 48800 51950
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Apache County AZ VERY LOW INCOME 17250 19700 22150 24600 26600 28550 30550 32500
LOW INCOME 27550 31500 35400 39350 42500 45650 48800 51950
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Cochise County AZ VERY LOW INCOME 19600 22400 25200 27950 30200 32450 34700 36900
LOW INCOME 31300 35750 40250 44700 48300 51850 55450 59000
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Gila County AZ VERY LOW INCOME 18000 20550 23100 25650 27750 29800 31850 33900
LOW INCOME 28750 32850 36950 41050 44350 47600 50900 54200
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Graham County AZ VERY LOW INCOME 18500 21150 23800 26400 28550 30650 32750 34850
LOW INCOME 29600 33800 38050 42250 45650 49000 52400 55750
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Greenlee County AZ VERY LOW INCOME 20100 23000 25850 28700 31000 33300 35600 37900
LOW INCOME 32150 36700 41300 45900 49550 53250 56900 60600
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
La Paz County AZ VERY LOW INCOME 17250 19700 22150 24600 26600 28550 30550 32500
LOW INCOME 27550 31500 35400 39350 42500 45650 48800 51950
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Navajo County AZ VERY LOW INCOME 17250 19700 22150 24600 26600 28550 30550 32500
LOW INCOME 27550 31500 35400 39350 42500 45650 48800 51950
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650
Santa Cruz County AZ VERY LOW INCOME 17250 19700 22150 24600 26600 28550 30550 32500
LOW INCOME 27550 31500 35400 39350 42500 45650 48800 51950
MOD.INC-GUAR.LOAN 74750 74750 74750 74750 98650 98650 98650 98650

 

Remember, Consumer Real Estate Finance Co. is here to answer all your questions. For help applying for an Arizona USDA Loan, contact us today.