What is a USDA Rural Housing Loan?

USDA Home Loans provide No Money Down financing for a home purchase or Home
refinance. USDA rural housing loans are guaranteed by the USDA. There are many
qualifying factors for a USDA home loan, things such as income limits and loan amount
may limit eligibility.

Houses must be located in areas that meet USDA rural housing guidelines for “rural”.
You may be suprised at some of the areas that are considered rural areas by USDA.
If you live in large cities in Utah like Salt Lake, Ogden or Provo, you can sure they will
not fit in this program. However many cities and towns do qualify.

The best way to find out if your area meets USDA rural housing is to got to the USDA Rural Housing Property lookup. Or simply call or email me and I will let you know.

Highlights of the Utah USDA Guaranteed Rural Housing Loan Program

• No down payment required
• Mortgages are 30-year fixed rate at low market interest rates.
• Sellers may contribute or completely pay the buyer’s closing costs.
• Buyers must personally occupy the homr following the purchase.
• Home buyers make application with participating lenders.

Income Limitations

USDA Rural Housing imposes income limitations to qualify for this program. If you make too much, you may not qualify.
• The more people in the home, the more you can make.
• Child care expenses can be deducted from income to help you qualify
• If you are over the age 62, you can make more money
• If you are disabled of have disability income, you can make more income and still qualify

Income limitations are fairly liberal so most people will likely qualify.

Utah Cities and counties that qualify for the USDA Program:

Cache County: all except Logan
Box Elder County: Entire County
Weber County: Only Hunstville, Liberty and surrounding areas
Davis County: nothing in Davis county
Salt Lake County: Nothing in Salt Lake County
Tooele County: all of Tooele
Utah County: South of Springville (Payson). West of the Jordan River (Saratoga Springs, Eagle Mountain)

Click this link for USDA Rural Housing income qualifier

Contact Ron today at 801-628-7667