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USDA Rural Development 100% Financing 

by Joy Moran, Sound Advantage Realty, Olympia

For eligible borrowers and properties, USDA Rural loans offer a great deal for home buyers, because you can borrow up to 100% (Zero Down) without monthly Private Mortgage Insurance.

There are a few caveats; both the borrower and the property must qualify…

Borrower Eligibility

In Thurston County, if you have annual adjusted income below $86,250, credit scores above 660, stable employment and low debt, you probably qualify. USDA Income Eligibility

Property Eligibility

Much of Thurston County real estate is eligible for USDA Rural financing. All of Mason County, Lewis County, and most of Grays Harbor County are USDA eligible too. See the map below or use the USDA Address Eligibility tool. (Accept the disclaimer to get to the tool)

In addition, the property must not be sub-dividable, must not house a business or be “income producing” (i.e. farm, large shop, etc.) or have an in-ground swimming pool.

I recommend using an experienced mortgage professional for your USDA Rural Mortgage. For more information, contact Michelle Wickett with AXIA Home Loans: (360) 459-1200   http://www.mortgagesbymichellewickett.com/home.html

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