How To Get The Maximum Arizona USDA Loan Size

You’ll be happy to know that the Arizona USDA Loan does not have a maximum loan size, which may be another advantage USDA has over it’s FHA counterpart.

The maximum loan size you can get will actually be determined by your qualifying repayment income.

Here is a simple 10 step process that you can use to ESTIMATE the maximum USDA Loan size you might qualify for.  Today’s post is pretty detailed and all about math, so you may need to review it a couple times.

And we’ll use some example numbers, say an annual income of $50,000 with $575 in monthly debt payments for things like credit cards and auto loans.

Step 1

View the Original article

0 comments

How To Find USDA Loan Program Qualifying Areas In Arizona

The USDA Loan Program is restricted to certain geographic areas, and one of the questions I hear a lot is how can I tell what areas are eligible for the USDA Loan, where should I be looking to buy a home?

Let’s take a quick look at what the USDA defines as an eligible area.

The USDA says that to be eligible a property must be in a rural community.  Generally, these are communities of less than 10,000 people, but the USDA does make exceptions.  Certain areas between 10,000 and 25,000 in population are considered rural based on their distance from urban areas.

So it comes down to population and how far away from an urban area you are.

So here is a list of Urban areas that are NOT eligible; Flagstaff, Bullhead City, Lake Havasu City, Prescott, Phoenix, Tucson, Yuma and Sierra Vista.  Now be sure to keep in mind that their suburbs may be A-Okay.

Did you know that Arizona has 15 counties?  And right now 7 of those counties don’t have any eligibility restrictions.  That means that every single geographic part of that county qualifies for the USDA Loan.

On the USDA Rural Maps tab you can find a constantly updated list of USDA qualifying areas.  Once there you will see specific areas that you can quickly look at and see the eligible areas.

I hope you found this Arizona Home Loan tip useful and would love to hear your comments.

To find out if you qualify for a USDA Loan call (520) 225-0380 or click on the Get Started on USDA tab above and ask a question if you like.  If you want to go ahead and get your application in, you can fill out my Arizona Home Loan Application Online here.
Similar Posts:Queen Creek Arizona USDA Rural Development Map now availableUSDA Rural Development Bank Owned Homes For SaleThe 2nd Factor the Lender Looks For When You Apply For A USDA Rural Development LoanHow To Find Out If Your Income Qualifies Under The USDA Loan Income LimitsThe USDA Loan – The Hot Shot 0% Down Loan You Really Want To Know About

Tags: Arizona Mortgage, usda loan, USDA Property, USDA Qualifying

This entry was postedon February 3, 2011 at 1:01 pm. You can follow any responses to this entry through the RSS 2.0 feed.You can leave a response, or trackback from your own site.

Posted in USDA Qualifying Property by pauldunn No Comments Yet

Leave a Comment Click here to cancel reply.

Name (required)

Email (will not be published) (required)

Website URL

USDA Loan Get Started on USDAGet Started with ZERO DOWN Today!Name(

View the Original article

0 comments