The recent economic struggles that have affected the country have left many potential homebuyers second-guessing the prospect of buying a new home. In fact, many residents right here in Maine are reluctant to commit to such a large investment.
If this sounds like you, then the Maine's USDA Loans Program, may be the perfect solution. Backed by the power of the federal government, these Rural Development Loans are making home buying easy for residents located all across the Pine Tree State. Advantages of Maine Rural Development Home Loans include:
No Maximum Loan Amount on Maine Property
Flexible Credit Guidelines for Qualifying Maine Residents
Low Fixed Interest Rates
Both New and Existing Properties May Qualify
Maine Areas that Qualify for Rural Development Loans
There are some restrictions placed on property eligibility. For instance, in order to qualify for a Rural Development Loan, the property in question must be located within an approved area.
The good news is that while eligible USDA homes are restricted to rural areas, there is a large number of qualifying areas located throughout the great state of Maine. From Caribou to York, you may be surprised at how many properties qualify, some of which lie directly outside of major cities. Qualifying area property guidelines include:
Being located outside a major metropolitan area
Having a population of less than 20,000 residents
For more info, fill out the application on this page, or call one of our certified USDA loan agents at 1-866-854-4242.
Maine’s USDA Loan Income Limits by County
While Consumer Real Estate Finance Co. is here to assist you with all your questions and guide you through the application process, you should be aware that there are a few usda eligibility restrictions. These include a credit evaluation as well as a maximum income limit.
When applying for a Rural Development Loan in Maine, your annual income cannot exceed the limit set for your county:
Maine USDA Loan Adjusted Maximum Income Limits by County