USDA Mortgages in New Mexico
There is finally some good news for residents of counties such as Catron, Cibalo, Colfax, Harding, Grant, Mora, Quay, Sierra, Taos, Union among many more within New Mexico, then you can successfully apply for the USDA mortgage program and become owner of your own home, without even paying any down payment.
The USDA (United States Department of Agriculture) along with the US Government has introduced a special rural housing development scheme called USDA Mortgages in New Mexico, which has been designed to help those families and households who wish to own their own home but cannot afford currently. With this special USDA Mortgages in New Mexico, any family can apply for the housing loan and get 100% financed housing loan.
Some of the counties which are not eligible for this special housing loan scheme are:
- Dona Ana
- San Juan
- Santa Fe
USDA has made this list of non-eligible counties based on the prevalent economic conditions of the counties and the progress growth of the local area. If you reside in any one of these counties, then don’t get disheartened. There are some areas and pockets within these counties where this loan is approved. To get more detailed information about all the counties and areas which are non-eligible as well eligible, please refer to the official website of USDA by clicking over here: http://eligibility.sc.egov.usda.gov/eligibility/textDiscriptionAction.do?pageAction=oipCounty&stateCode=35
USDA Mortgages in New Mexico – Income Limits
USDA has introduced a specific income limits which is considered before granting approval of this special mortgage scheme. The reason for this income limit is to filter out those households which are affluent enough to purchase their own home with their own finances. Based on our research, most of the middle class and rural/semi-rural population of New Jersey do fall under this income limit. For more detailed information about the specific income limit based on the counties and number of members in the household, you are suggested to visit the official website of USDA by clicking here: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=pageLoad&requestInfo=GuaranteedIncomeLimits&NavKey=incomelimit@12
Advantages of USDA Mortgages in New Mexico
- Zero down payment required for the loan
- 100% Finance Available
- No mortgage maintenance fee required
- Long tenure for loan repayment
- Fixed interest rate for the whole period
- Flexible income limits
- Easy credit checks
- Backed by US Government; Fully legal and authorized mortgage program
Don’t delay your decision. Owning your own home is a very bold step, and with the assistance of USDA Mortgages in New Mexico, you can easily get approved. You can start the process of applying for USDA mortgages right away by filling the short form in the right hand side of this webpage and/or by calling us at 877-342-7449.