100% USDA Mortgage in Lycoming County, Pennsylvania

Looking to purchase a home in Lycoming County, Pennsylvania?

You might want to make a quick check to see if you and the property are eligible for a USDA Mortgage, also known as a USDA Rural Development Loan. Here's Why... USDA home loans offer a few benefits that other mortgage programs cannot match: including no down payment and financed closing cost. If the home appraisal allows, the closing costs can also be wrapped into the mortgage resulting in no money needed at the closing table. USDA is the only mortgage program that allows for all closing costs to be financed into the loan amount on a home purchase. Interest rates for USDA mortgages are comparable and often lower than the low fixed rates of Conventional, FHA and VA financing. The USDA Mortgage program does have restrictions when it comes to location and income, so a quick check on this key qualifying criteria should be done first.

Benefits of the USDA Mortgage Program True 100% no money down financing. The ability to finance in your closing costs (if the appraised value supports the loan amt) The seller may contribute up to 6% of the purchase price towards your closing costs Low fixed interest rates. More flexible credit qualifying guidelines with minimum 620 credit score Often available for properties in towns and suburbs too

What areas of Lycoming County are eligible for USDA Financing?

The main areas of Lycoming County that are not eligible for USDA financing include Williamsport and South Williamsport. Shortly outside of the metro Williamsport area, the rest of Lycoming County becomes USDA Eligible.

USDA Eligible Areas in Lycoming County include...

• Antes Fort
• Balls Mills
• Barbours
• Bastress
• Biggertown
• Bodines
• Brady
• Bryan Mills
• Calvert
• Cammal
• Carsontown
• Cascade
• Cedar Run
• Clarkstown
• Cogan House
• Cogan Station
• Collomsville
• Crawford
• Cummings
• East Muncy
• English Center
• Farragut
• Faxon
• Gamble
• Glen Mawr
• Haleeka
• Halls
• Hughesville
• Huntersville
• Jersey Mills
• Jersey Shore
• Lairdsville
• Larrys Creek
• Larryville
• Leetonia
• Level Corner
• Linden
• Loyalsock
• Lungerville
• Marsh Hill
• Montgomery
• Moreland
• Muncy
• Muncy Creek
• Nisbet
• Okome
• Opp
• Oriole
• Oval
• Pennsdale
• Picture Rocks
• Pine Creek
• Pine Village
• Powys
• Proctor
• Quiggleville
• Ralston
• Ramsey
• Richards Grove
• Ross Siding
• Salladasburg
• Seagers
• Slate Run
• Sylvan Dell
• Tivoli
• Tomb
• Trout Run
• Unityville
• Wallis Run
• Warrensville
• Waterville
• White Pine

As always, if you want to find out if a specific property is eligible for a USDA Mortgage in Lycoming County, simply type in the address on the USDA Eligibility Map below....

USDA Property Eligibilty Map

What are the USDA Mortgage Income Limits for Lycoming County?

Household Size: 1-4 Family Members 5 or more Family Members

Maximum Adjusted Income $74,050 $97,750

If at first glance, it appears your household income exceeds the above limits, it is worth checking the USDA Income Calculator on the USDA website (link below). The USDA allows for several deductions which may allow your Household Income to fit within their Maximum Adjusted Income Guidelines.

USDA Income Eligibility Worksheet

Ok, the Property is in a USDA Eligible Area and your Household Income is within the USDA Income Limits, now what?

Like all mortgages, USDA Mortgages do require an applicant to qualify based on recent credit history. USDA credit requirements are some of the most flexible of any mortgage program available. More detailed information about USDA Mortgage Credit Requirements can be found with the link below...

USDA Credit Requirements

For buyers looking to purchase a home in Lycoming County Pennsylvania, the USDA Rural Development Mortgage is definitely worth a look. Feel free to contact me with any further questions about the program.