Get Qualified For The USDA Rural Loan

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U.S. Department of Agriculture (USDA) Guaranteed Rural Home Loans are creating homeownership opportunities throughout Virginia with No Money Down Financing in rural communities and areas just outside of major metro areas.

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 59% lower than a comparable FHA Loan
  • Flexible Credit Requirements
  • Safe, Secure 30 Year Fixed Rate Mortgage
  • No Maximum Loan Amount
  • With Seller Help, No Out-Of-Pocket Closing Costs
  • Most Property Types Allowed

USDA Loan Construction Financing

USDA No Money Down Construction Loan Financing – Now Available!

The USDA Loan program can now be used to finance a construction project, including purchasing land (if necessary), with no money down. The benefits of the USDA One-Time Close Loan include:

  • No down payment requirements Vs. an average 20% down payment on a typical Construction-To-Perm Loan
  • Lower cost by only having to close on the loan once
  • Reduced interest rate risk by closing just one time on the loan
  • No payment required during construction
  • No requalification prior to moving into the house

Resource Center
If you have an existing USDA Loan you will receive the following benefits of a USDA to USDA Refinance Loan:
  • No appraisal report required and streamline approval process
  • Property valuation not considered, refinance even if the house is worth less than the current mortgage
  • Obtain an interest rate as low as 3.5% (3.841% APR)
  • Skip up to two mortgage payments
  • Roll in all closing costs and fees into the new loan
  • Receive back from your current Loan Servicer a refund of the money held in your escrow account
  • Refinance with our No Closing Cost option
495 Moves You In

USDA INTEREST RATE

USDA HOME LOAN PAYMENT

USDA Announces Increased Income Limits

Date: May 17, 2017
Source Document
Questions or Comments Regarding This Information?

The income limits for the USDA Guaranteed Rural Housing Program have increased for just a few Virginia Counties effective June 1, 2015. 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 VirginiaUSDA Income Calculator for an instant income evaluation on whether your income meets or exceeds USDA's maximum County limits.

USDA's maximum County income limits are as follows:

Household Size
County1-45+
Accomack$78,200$103,200
Albemarle$96,750$127,700
Alexandria$108,550$143,300
Alleghany$78,200$103,200
Amelia$89,000$117,500
Amherst$78,200$103,200
Appomattox$78,200$103,200
Arlington$108,550$143,300
Augusta$78,200$103,200
Bath$78,200$103,200
Bedford$78,200$103,200
Bedford Ind$78,200$103,200
Bland$78,200$103,200
Botetourt$78,200$103,200
Bristol$78,200$103,200
Brunswick$78,200$103,200
Buchanan$78,200$103,200
Buckingham$78,200$103,200
Buena Vista$78,200$103,200
Campbell$78,200$103,200
Caroline$89,000$117,500
Carroll$78,200$103,200
Charles City$89,000$117,500
Charlotte$78,200$103,200
Charlottesville$96,750$127,700
Chesapeake$84,300$111,300
Chesterfield$89,000$117,500
Clarke$108,550$143,300
Clifton Forge$78,200$103,200
Colonial Height$89,000$117,500
Covington$78,200$103,200
Craig$78,200$103,200
Culpeper$94,300$124,500
Cumberland$86,950$114,750
Danville$78,200$103,200
Dickenson$78,200$103,200
Dinwiddie$89,000$117,500
Emporia$78,200$103,200
Essex$78,200$103,200
Fairfax$108,550$143,300
Fairfax Ind$108,550$143,300
Falls Church$108,550$143,300
Fauquier$108,550$143,300
Floyd$78,200$103,200
Fluvanna$96,750$127,700
Franklin$78,200$103,200
Franklin Ind$78,200$103,200
Frederick$84,900$112,050
Fredericksburg$108,550$143,300
Galax$78,200$103,200
Giles$78,200$103,200
Gloucester$84,300$111,300
Goochland$89,000$117,500
Grayson$78,200$103,200
Greene$96,750$127,700
Greensville$78,200$103,200
Halifax$78,200$103,200
Hampton$84,300$111,300
Hanover$89,000$117,500
Harrisonburg$78,200$103,200
Henrico$89,000$117,500
Henry$78,200$103,200
Highland$78,200$103,200
Hopewell$89,000$117,500
Isle Of Wight$84,300$111,300
James City$84,300$111,300
King And Queen$86,950$114,750
King George$97,750$129,050
King William$89,000$117,500
Lancaster$78,200$103,200
Lee$78,200$103,200
Lexington$78,200$103,200
Loudoun$108,550$143,300
Louisa$81,200$107,200
Lunenburg$78,200$103,200
Lynchburg$78,200$103,200
Madison$79,800$105,350
Manassas$108,550$143,300
Manassas Park$108,550$143,300
Martinsville$78,200$103,200
Mathews$84,300$111,300
Mecklenburg$78,200$103,200
Middlesex$85,100$112,350
Montgomery$81,500$107,600
Nelson$96,750$127,700
New Kent$89,000$117,500
Newport News$84,300$111,300
Norfolk$84,300$111,300
Northampton$78,200$103,200
Northumberland$78,200$103,200
Norton$78,200$103,200
Nottoway$78,200$103,200
Orange$84,400$111,400
Page$78,200$103,200
Patrick$78,200$103,200
Petersburg$89,000$117,500
Pittsylvania$78,200$103,200
Poquoson$84,300$111,300
Portsmouth$84,300$111,300
Powhatan$89,000$117,500
Prince Edward$78,200$103,200
Prince George$89,000$117,500
Prince William$108,550$143,300
Pulaski$78,200$103,200
Radford$81,500$107,660
Rappahannock$94,150$124,300
Richmond$80,850$106,700
Richmond Ind$89,000$117,500
Roanoke$78,200$103,200
Roanoke Ind$78,200$103,200
Rockbridge$78,200$103,200
Rockingham$78,200$103,200
Russell$78,200$103,200
Salem$78,200$103,200
Scott$78,200$103,200
Shenandoah$78,200$103,200
Smyth$78,200$103,200
Southampton$78,200$103,200
Spotsylvania$108,550$143,300
Stafford$108,550$143,300
Staunton$78,200$103,200
Suffolk$84,300$111,300
Surry$84,300$111,300
Sussex$89,000$117,500
Tazewell$78,200$103,200
Virginia Beach$84,300$111,300
Warren$88,400$116,700
Washington$78,200$103,200
Waynesboro$78,200$103,200
Westmoreland$78,200$103,200
Williamsburg$84,300$111,300
Winchester$84,900$117,500
Wise$78,200$103,200
Wythe$78,200$103,200
York$84,300$111,300

Remember that USDA does allow for the total household income to be higher than these income limits provided that certain adjustments or reduction to income can be made including:

  • 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
These adjustments can be used to lower the gross household income to an amount that is less than the above mentioned maximum gross income. If you are considering financing an upcoming home purchase using a USDA loan and need assistance in calculating your adjusted gross income using USDA Rural Development Loan Income Guidelines complete the contact form or call (866) 305-7808 to speak to your local Virginia loan professional.