USDA loans are for lower income families (or singles) and not all areas of NC qualify. Good news is that they work anywhere in Brunswick County. Below are some key points.
- Primary residences only
- 100% financing
- Stick built and NEW doublewides (from dealer)
- No reserves
- No monthly MI (mortgage insurance)
- No rate hits with scores above 620; lower scores work at slightly higher rates.
- 1-4 person family, income limit $73,600; 5+ members $88,600
- OK to roll in funding fee.
- Cannot own any other properties
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