Have Questions? Give us a call: 503-316-8000

USDA Home Loan Overview

USDA Rural Home Loan

  • ZERO down payment
  • Seller contributions allow for closing costs
  • Must be a Residence – not a Farm
  • Very LOW rates – 30 year fixed mortgages
  • High Loan Limit of $647,000
  • Very Low monthly (annual) Mortgage insurance
  • Rural areas are generally those with less than 25,000 or less per capita – this includes MOST of Oregon and its small towns/cities.
  • Income limits are set per County.  The program maximum is $146,800 for a family of 5 in Washington County.
  • Credit does not need to be perfect – but there are minimum credit scores for each Lender. Your credit score can affect how much you will be approved for – or how much you can spend on the purchase price of a home.
  • An appraisal will be required for a Purchase home loan. Plumbing, heating, water, waste disposal and electricity must be adequate for home occupancy. The dwelling must also be free from termites and dry rot.
  • Must be primary residence for the buyer – it is not for investors.
  • You do not need to be a first time homebuyer.  If you own another residence, the purchase of a second residence would need special approval. USDA typically will only allow a second residence if the other home is inhabitable or commute time to work is much farther than that of the home

Contact Info

Apply On-line 24 hours a day with our local Company

Rock River Financial
388 State Street #445
Salem, OR 97301

Office: (503) 316-8000
Fax: (503) 316-8004

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