Here’s the NEWEST map from USDA showing where you can have a 100% no down payment loan, and where you can’t use USDA Home Loan financing. The shaded area in the top right portion of the map does NOT qualify for USDA Home Loans in Holly Springs, NC… the rest of it definitely does!
This is great news for folks who are looking for homes with very low PMI, and mortgage interest rates that are every bit as low as FHA!
USDA Home Loans in Holly Springs, NC
The USDA Home Loan maps for Holly Springs changed! As of December 1, 2016, this is the new map for qualifying for a USDA home loan in Holly Springs, NC. (see the arrows? Those are the changes)
USDA Home Loan Income Limits for Holly Springs
- USDA Home Loan Income Limits for a family of 0 to 4 are currently $91,850 – the more members of your household, the higher the limits.
These are fairly straight forward mortgages, they allow for gifts to cover closing costs, or the seller can pay them.
The buyer can not CURRENTLY own a home that is within commuting distance of the new property to qualify for USDA Home Loans in Holly Springs, NC. So if you owned a home in Ohio, for instance, that would not sell right now, and you rent that property, and move here – YOU MAY BE ABLE TO GET 100% FINANCING!
Want to find out more about credit scores needed when qualifying for a USDA Home Loans in Holly Springs, NC? Well, they recently changed. We are now looking for borrowers who meet ALL of the debt to income ratios to have an income of at least 620 – and for those who are OVER the debt to income ratios, we may need a score of at least 640.
First Time Home Buyers Holly Springs NC
There are OTHER Programs for First Time Home Buyers in NC – and the best news is – you don’t have to be a first time home buyer to qualify! If you have not owned a home in the last 3 years, you might also qualify for the Government’s 3% grant!
- NC Home Advantage Mortgage / Maximum Household income of $87,500
- Mortgage Tax Credit / Maximum Household income of $75,000 for two people (that changes with the number in the family)
We would love to answer any questions you might have about USDA Home Loans Holly Springs NC! Mortgage rates are low, and now is the time to buy! Have questions? Call Steve and Eleanor Thorne, 919 649 5058