Consumer Real Estate Finance Co. 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 USDA Loans 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
If you have questions about an area’s eligibility, the experts at Consumer Real Estate Finance Co. have made it easy, just visit our USDA Property Eligibility Wizard and plug in a state and zip code. Or for more personalized information, contact one of our certified USDA loan agents at 1-866-854-4242.
Maryland’s USDA Loan Income Limits by County
USDA 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.