Get Qualified For the USDA Guaranteed Loan Program
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USDA Guaranteed Rural Home Loans in Maryland
U.S. Department of Agriculture (USDA) Guaranteed Rural Loans are creating homeownership opportunities throughout USDA eligible areas in Maryland. Unlike most loan programs, the USDA Loan doesn’t require a down payment. And when the seller pays the buyers closing costs, the buyers cash-to-close is minimal. Best of all, the USDA Loan program is available for first-time home buyers, previous homeowners, and move-up buyers. Acceptable property types include single-family homes, townhomes, and even condominiums. With the USDA Loan program saving up for a large down payment is no longer an obstacle toward homeownership.
The USDA Rural Development Loan Program offers first time homebuyers and move-up buyers:
- 100% Financed Mortgage, No Money Down, $0 Down Payment
- USDA Loans Monthly Mortgage Insurance Premiums are 36% Lower Than A Comparable FHA Loan
- Flexible Credit Requirements As low As A 580 Middle Credit Score
- Safe, Secure 30 Year Fixed Rate Mortgage
- No Maximum Loan Amount
- With Seller Help, Minimal Out-Of-Pocket Closing Costs
USDA Loan Programs
$0 Down, 100% Loan Financed Home Purchase
Private Sale/For Sale By Owner
One-Time-Close Construction
Purchase and Renovation
Refinance
Manual Underwrite & Credit Score Down To 580
Testimonials
USDA Mortgage Loan Calculators
USDA Guidelines, Tools, and Resources
- David
- 11 March 2023
Repair Renovation Budget
One of my investors allows home buyers the ability to use the USDA Rural Loan program to complete appraisal mandated....
- Anne
- 24 January 2023
Property Eligibility Condition and Requirements
The USDA Loan program has very specific requirements pertaining to the property being purchased. First off, the property must be....
- David
- 22 December 2022
Determining USDA Maximum Monthly Payments
One of the most common questions asked by perspective USDA loan applicants is “How much is the USDA maximum loan....
- Anne
- 23 October 2022
Property Inspection Requirement
The inspection/testing requirements for a USDA Loan are as follows: To learn more about the Maryland USDA Guaranteed Loan program....
- David
- 14 September 2022
Eligibility Vs. Qualifying Income
USDA Loans require that the borrower’s income meet both “Income Eligibility” and “Income Qualifying” requirements. Income Eligibility is income used....
- Anne
- 07 July 2022
Credit Score Requirements
The USDA Guaranty Loan Program, like all loan programs, evaluates a borrower’s ability to repay the mortgage loan by analyzing....
- David
- 08 June 2022
CAIVRS Claims
Since the USDA Loan program is a federal government insured loan program, borrowers on the loan must pass a CAIVRS....
- Anne
- 18 March 2022
Negative Credit Occurrences – Bankruptcy,
The USDA Loan program has special guidelines as it pertains to Borrowers with a previous negative credit occurrence, such as....
- David
- 10 January 2022
Student Loan Debt
For potential home buyers with student loans that are either in a deferred payment status or being paid back through....
- Anne
- 14 November 2021
USDA Tradeline Requirements
The USDA Loan program, differs from all other loan programs, based on the requirements for a minimum quantity and history....
USDA Announces Increased Income Limits
Date: July 12, 2024
Source Document
Questions or Comments Regarding This Information?
The income limits for the USDA Guaranteed Rural Housing Program have increased for almost all Maryland Counties effective July 12, 2024. Income limits are based on the income for all adult (18 and over) household members, regardless of whether they will be a borrower on the loan. Maximum County income limits are based on a household size of 1 – 4 or 5 or more people residing in the household. USDA does allow for situations where the household income can exceed the maximum County income, based on certain parameters. Reference MarylandUSDA Income Calculator for an instant income evaluation on whether your income meets or exceeds USDA’s maximum County limits.
County | Household Size | |
---|---|---|
1-4 | 5+ | |
Allegany | ||
Anne Arundel | ||
Baltimore | ||
Calvert | ||
Caroline | ||
Carroll | ||
Cecil | ||
Charles | ||
Dorchester | ||
Frederick | ||
Garrett | ||
Harford | ||
Howard | ||
Kent | ||
Montgomery | ||
Prince Georges | ||
Queen Anne's | ||
Somerset | ||
St Mary's | ||
Talbot | ||
Washington | ||
Wicomico | ||
Worcester |
- Documentable childcare expenses for children age 12 and under
- $480 per child for anyone under 18
- $480 for any student other then one of the applicants
- $400 for each disabled or handicapped individual who is not one of the applicants
- Medical expenses for any elderly family member