Just got some fabulous news for first time home buyers in parts of Montgomery County Pennsylvania today– The USDA eligibility areas are “possibly” being adjusted in the northern section of Montgomery County.
So what the heck does that mean to first time home buyers?
The United States Department of Agriculture has government financing that is highly sought after by many first time home buyers because it means that unlike an FHA mortgage that requires 3.5% of sale price be paid by the buyers, a USDA qualified property could mean ZERO down money is required.
There are two qualifications that must be met in order to qualify for a USDA Mortgage:
- The household income must be under $90,000
- The property must be located within a USDA eligible area.
The second requirement is what is adjusting in Northern Montgomery County, more specifically mostly in Upper and Lower Pottsgrove. The eligibility areas are proposed to be adjusted to include many properties in the “Pottsgroves” that were not previously included.
You can check the eligible areas for yourself here. Word has it that these changes are hopefully going into effect in June 2018.
If you’re currently looking in the Pottsgrove areas, be sure and check in with your Realtor and find out if you could qualify for USDA (No Money Down) Financing!
Would you like to find out if you could qualify to buy your first home with USDA Financing? Simply drop your first name and your email below and we’ll get the info out to you right away…