Updated January 2017
All over California, USDA loans are a popular way to finance your home. The California USDA loan is one of the few no-money-down mortgage options when you are buying a home. With a California USDA loan, only certain properties in certain areas qualify for the USDA loan program, so you need to be sure that you check with a lender who specializes in USDA loans prior to putting in an offer. You want to be certain that the USDA loan program is available for that property.
In 2010, the USDA Loan Limits increased and currently 2016 income limits are in effect. When it comes to qualifying for the USDA loan program, it is an income qualification, not the total loan amount that determines how much you can borrow. Remember, when calculating income for USDA loans, there are there are items that can be subtracted from the income in order to help qualify for the USDA Loan.
If you are interested in learning more about the California USDA loan program and what it takes to qualify, be sure to contact a loan officer who works for a lender who can underwrite USDA loans directly. They will have the experience and knowledge of the USDA loan program and what you will need to do differently than other loan programs such as the FHA or VA loan programs.
Contact us now for your free USDA loan consultation and California USDA loan quote.