USDA Rural Development Guaranteed Loan Program

Below are the USDA/Rural Development Guaranteed loan program’s newly published income limits for St. Charles, Jefferson, Lincoln, St. Francois, and Warren Counties.

	St. Charles	Franklin	Jefferson	Lincoln	St. Francois	Warren
1  - 4 Occupants	$85,700	$85,700	$85,700	$85,700	$78,200	$85,700
5+ Occupants	$113,100	$113,100	$113,100	$113,100	$103,200	$113,100

* Income limits are based on total household income, not just the borrower(s) income on the loan.

Did you know...?

·         USDA loans are available for the purchase of a primary residence in an eligible area.  Curious about a property’s eligibility?  CLICK HERE to view USDA’s eligibility website.

·         USDA loans are 100% financing / $0 down. 

·         There is NO monthly mortgage insurance.  Instead borrowers pay a “USDA Annual Fee” with their monthly payment that’s 0.35% of their loan amount. FHA’s monthly PMI is 0.85% so borrowers will typically pay less per month with USDA financing vs FHA.

·         USDA loans are NOT limited to first time homebuyers.

·         MINIMUM CREDIT SCORE REQUIREMENT:  600

·         Borrowers with no credit score may also be eligible for USDA loan financing.

	Amy Hess Senior Mortgage Banker 16150 Main Circle Dr. Suite 220 Chesterfield, MO 63017 Work: 314-872-0998 | Mobile: 573-291-2704 | Fax: 314-219-8575 NMLS ID: 58000 | Company NMLS: 224149 ahess@flat-branch.com | flatbranchhomeloans.com