Search USDA Eligible Homes

USDA Homes Near me

$ 586,000 313 Howard Street, Greenwood, MS 38930,Price $586,000,4064607

313 Howard Street, Greenwood, MS 38930

4
4
7,204Sqft
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$ 49,900 104 Hampton Street, Winona, MS 38967,Price $49,900,23-1675

104 Hampton Street, Winona, MS 38967

4
3
3,295Sqft
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$ 169,900 2003 Baxter Avenue, Greenwood, MS 38930,Price $169,900,4065860

2003 Baxter Avenue, Greenwood, MS 38930

4
3
2,111Sqft
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$ 200,000 Lot 347 7298 County Road 53, Carrollton, MS 38917,Price $200,000,4044623

Lot 347 7298 County Road 53, Carrollton, MS 38917

2
2
1,760Sqft
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$ 475,000 444 Gore Springs Rd-grenada County Gore Springs, ms, MS 38929,Price $475,000,152162

444 Gore Springs Rd-grenada County Gore Springs, ms, MS 38929

4
7
5,238Sqft
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$ 44,000 129 Cr 309, Calhoun City, MS 38916,Price $44,000,154462

129 Cr 309, Calhoun City, MS 38916

2
2
1,080Sqft
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$ 242,000 70 Spruce St., Oakland, MS 38948,Price $242,000,156825

70 Spruce St., Oakland, MS 38948

3
2
2,528Sqft
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$ 149,000 15645 Hwy 32 W, Charleston, MS 38921,Price $149,000,151774

15645 Hwy 32 W, Charleston, MS 38921

3
2
1,537Sqft
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$ 320,000 2416 Pope Water Valley Road, Pope, MS 38658,Price $320,000,156921

2416 Pope Water Valley Road, Pope, MS 38658

3
2
2,433Sqft
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$ 85,000 55 Cr 377, Calhoun City, MS 38916,Price $85,000,156824

55 Cr 377, Calhoun City, MS 38916

3
2
1,216Sqft
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$ 89,900 304 N. Washington St., Calhoun City, MS 38916,Price $89,900,152545

304 N. Washington St., Calhoun City, MS 38916

3
1
1,927Sqft
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$ 275,000 110 Blount, Water Valley, MS 38965,Price $275,000,157073

110 Blount, Water Valley, MS 38965

3
3
1,915Sqft
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USDA Home & Property Search – USDA Homes

Did you know particular USDA homes may or may not be eligible in various locations? Make sure to know your location’s eligibility.

Are you looking into USDA homes? Are you unsure if your area qualifies?

USDA property eligibility depends on whether you live in a rural area or a cosmopolitan area. The loan is for homeowners who live in suburban or rural areas. More importantly, your income must be low or moderate.

Under the USDA loan program, buyers don’t have to pay a down payment. For primary residences, the loan package entails a 30-year fixed-rate plan.

Further, the government doesn’t give USDA loans. Instead, the government will guarantee the loan to the lender. As a result, the lender will feel more comfortable approving an applicant backed by the USDA.

This article will help you determine if your area qualifies for a USDA loan. Read further to know more.

Rural Eligibility

Above all, you must live in a rural area to be eligible for a USDA home loan. That said, the USDA has a flexible definition of a rural area.

The organization defines rural as an area with fewer than 35,000 residents. This criterion is the main stipulation that the USDA uses to determine area eligibility. Most rural communities throughout the nation fall into this category.

In fact, rural areas are almost always eligible. With that, some suburban areas may be eligible if your town has less than 35,000 people in it. Some suburban areas have isolated pockets and qualify for USDA financing.

On the other hand, the USDA excludes metropolitan regions because these areas always have more than 35,000 people. Additionally, cosmopolitan areas usually cannot accommodate farmland.

To be on the safe side, you can type in your address on the USDA website to see if your property is eligible.

Above all, you must live in a rural area to be eligible for a USDA home loan. That said, the USDA has a flexible definition of a rural area.

The organization defines rural as an area with fewer than 35,000 residents. This criterion is the main stipulation that the USDA uses to determine area eligibility. Most rural communities throughout the nation fall into this category.

In fact, rural areas are almost always eligible. With that, some suburban areas may be eligible if your town has less than 35,000 people in it. Some suburban areas have isolated pockets and qualify for USDA financing.

On the other hand, the USDA excludes metropolitan regions because these areas always have more than 35,000 people. Additionally, cosmopolitan areas usually cannot accommodate farmland.

To be on the safe side, you can type in your address on the USDA website to see if your property is eligible.

Using the USDA Eligibility Map

To know if you qualify for certain, adhere to the following steps:

  1. Once you visit the eligibility website, click on ‘Single Family Housing Guaranteed.’ Then, click the ‘Accept’ button to proceed.
  2. In the upper-left corner, type in your search address, and click the ‘Go’ button.
  3. The map will reveal if your area is eligible for the program. You can also use the zoom tool to look at certain areas in greater depth.

The map will reveal areas shaded in light brown. These areas are the ineligible areas, whereas the unshaded areas are usually eligible.

You’ll find that the bigger cities within a state are shaded. The mapping tool also allows you to look at homes for sale in eligible areas.

Maximum Loan Value

USDA home loans don’t impose limits on what type of home you can buy. As long as you qualify, you can buy any home within an approved region.

The USDA will assess the maximum loan value based on your eligibility. Loan reps will assess your maximum loan value based on the following factors:

  • Credit score
  • Income
  • Debt income ratio
  • Assets
  • Savings
  • Mortgage or rental history

From there, the lender will establish a maximum parameter, and you can go shopping for your new home.

Income Limits for USDA Homes

Even if you live in an eligible area, you may not qualify if you have a high income. Remember: a USDA home loan is designed to help homeowners of modest means.

Therefore, the USDA mandates that lenders don’t provide loans to high-income earners. Overall, the income limit breaks down as follows:

  • 1-4 Member Household: $90,300
  • 5-8 Member Household: $119,200

That said, the USDA will make exceptions for areas with high living costs.

Property Eligibility

If your area qualifies, you must assess the property. When it comes to homes, the property must be 2,000 sq. ft. or less. That said, the USDA will make exceptions for large families (i.e. five or more).

Also, the property must not have an in-ground swimming pool. However, the USDA will assess home with aboveground pools.

In terms of property values, the home cannot be more than the value of the loan amount.

USDA Loan Eligibility

The next step in the eligibility process is buyer qualification. The USDA will assess an applicant on the following criteria:

  • Debt-to-Income Ratio: In most cases, you must have a DTI of 41% or less.
  • Credit Requirements: You must have a credit score of at least 640 to qualify. However, the actual credit limit can depend on the lender’s standards.
  • Income Requirements: You must have a steady income to qualify. Further, you must document your income via your income tax returns.

Further, the USDA excludes certain forms of income. For instance, loan officials disqualify any type of capital gains, insurance money, or inheritance money as official income sources. Additionally, officials will exclude any income from an earned income tax credit.

Overall, all household members cannot have an income that’s more than 115% of the median income of the area. Plus, the USDA won’t consider any income earned from a minor.

Also, income housing assistance (i.e. Section 8 payments) is usually disqualified. If any students live in the home, the government won’t acknowledge any income from an adult student who is a full-time student.

Moreover, the state won’t consider any income from anyone who doesn’t live in the house officially, such as a live-in nurse.

USDA Loan Eligibility

When it comes to USDA homes, you should be more focused on property eligibility instead of area eligibility. Most of the United States is eligible for a USDA home loan.

Overall, property eligibility and financial profiles are the two main factors that determine the approval process. When it comes to financial histories, you must have a decent credit score and a suitable DTI to qualify.

Want to know more about USDA home loans? Click here to get the information you need.

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    Get Pre-ApprovedConnect with a USDA Loan Specialist.

    Where are you looking to buy?

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    Where are you in the home buying process?

    How do you plan to use your new home?

    Have you or your spouse served in the US military?
    Veterans and active US military may be eligible for a $0 down VA loan.

    Are you actively working with a real estate agent?

    Do you currently own a home?

    Do you plan to sell your current home before purchasing a new one?

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    What is your price range? Use the slider to select the price range of homes you're interested in
    (it's OK to estimate)

    $200,000 - $250,000

    $50k

    $2M+

    How much do you have for a down payment?(Not required for a USDA loan)

    $0 (0% Down)

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    What is your current employment status?

    What is your household gross (before taxes) annual income?

    What is your credit score?

    Have you had a bankruptcy or foreclosure in the past 3 years?

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    What is your email address?This is required so we can email you information.

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    USDAhomes.com is NOT affiliated with any government agencies, including the U.S Department of Agriculture - USDAhomes.com Advertiser Information By submitting, I agree my information may be shared and that I may be contacted at this number (including through emails, and/or autodialed or pre-recorded calls or texts, carrier rates may apply) by participating lenders of the Trinity Marketing Enterprise, LLC network, even if I am on a Do Not Call List. I agree to accept delivery of documents electronically; I agree to the privacy & policy and terms & conditions. I agree that my consent is not required or a condition of any purchase.

    What is the location of your property?

    What type of home do you have?

    Have you or your spouse served in the US military?
    Veterans and active US military may be eligible for a $0 down VA loan.

    What is the estimated value of your property?Use the slider to select the price range of homes you're interested in
    (it's OK to estimate)

    $200,000 - $250,000

    $50k

    $2M+

    What is the balance of your first mortgage?(It's OK to estimate)

    $200,000 - $250,000

    What is the interest rate of your first mortgage?(It's OK to estimate)

    4%

    Do you have a second mortgage?

    How much additional cash do you wish to borrow?(It's OK to estimate)

    $0 - $50,000

    What is your current employment status?

    What is your household gross (before taxes) annual income?

    What is your credit score?

    Have you had a bankruptcy or foreclosure in the past 3 years?

    What is your name?



    What is your email address?This information is so that one or more loan professionals can contact you about your mortgage needs.

    What is your phone number?

    USDAhomes.com is NOT affiliated with any government agencies, including the U.S Department of Agriculture - USDAhomes.com Advertiser Information By submitting, I agree my information may be shared and that I may be contacted at this number (including through emails, and/or autodialed or pre-recorded calls or texts, carrier rates may apply) by participating lenders of the Trinity Marketing Enterprise, LLC network, even if I am on a Do Not Call List. I agree to accept delivery of documents electronically; I agree to the privacy & policy and terms & conditions. I agree that my consent is not required or a condition of any purchase.