We’ve had several people interested in obtaining a USDA home loan for property in Durham County. I’ve put together a couple of maps that should help in identifying areas that qualify for this program. As you might know – it’s one of the last TRUE 100% home loans available – and it has very low PMI! The rates are comparable to FHA, so it’s a very affordable payment! You do not have to have PRISTINE credit, but we generally want to see scores above 600, and 12 months of “clean credit.” Folks who want to use the USDA Home Loans Durham need to take a close look at the USDA Map changes coming in September of 2020.
While most of the areas currently USDA Home Loan eligible in Durham remain so- there are changes, especially towards Briar Creek.
USDA does require that the property be located in a less populated area. It does not need to be a farm – but it can’t be located downtown either.
These are the maps for Durham based upon the CURRENT USDA Home Loan Eligibility. The last map image reflects the proposed change, which is due to go into effect in September of 2020
The “darker” areas do NOT qualify. However, as you can see – the Northern sections of Durham County have the most opportunity for this type of financing. Here’s another map that does a close up of that area.
If you are interested in property in this area and would like to see if the address fall within the USDA “footprint” click here. I also did another map of an area near Leesville Road on the Wake County, Briar Creek side of Durham. Frankly – I didn’t know that this area qualified!
The Northern part of Durham County, towards Bahama will still qualify for USDA Home Loans based upon the changes due to go into effect September 2020 – however areas closer to the RTP will no longer be eligible as per the map below. The Pink areas of this map do not qualify for USDA Home loans in Durham NC.
So – THE TIME IS RIGHT! We have many properties on the market, we have MONEY TO LEND, and mortgage rates are really low! If you are looking for a home in another part of NC that might qualify for USDA home Loan financing – For a list of communities that could see CHANGES to the maps starting at the end of September 2020, let us know!
This is the time to buy a house with no money down in Durham with a USDA loans Durham! (a couple of different North Durham Maps) To see if your household income qualifies for this very low PMI loan, please click here or call Steve Thorne 919-649-5058 we know this program inside and out!