Pennsylvania Mortgage News: October 2010

your guide to the Pennsylvania Mortgage Market * Programs * Rates * Information *

100% USDA Mortgage in Northumberland County, Pennsylvania

Looking to buy a home in Northumberland County, Pennsylvania?

You might want to make a quick check to see if you and the property are eligible for a Pennsylvania USDA Mortgage, also known as a Pennsylvania 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.

USDA Mortgage Northumberland County Pennsylvania

Northumberland County Pennsylvania Mortgage

 

        

        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 Northumberland County are eligible for USDA Financing?

Only the city limits of Sunbury and Northumberland are ineligible for the USDA Rural Development Mortgage program. Shortly outside this area, the rest of Northumberland County quickly becomes USDA eligible.

 

USDA Eligible Areas in Northumberland County include...

 

  • Anthony
  • AtlasShamokin Mortgage
  • Augustaville
  • Bear Gap
  • Bear Valley
  • Boydtown
  • Camp Grove
  • Chillisquaque
  • Coal
  • Coal Run
  • Coal Township
  • Comly
  • Connersville
  • Dalmatia
  • Delaware Run
  • Dewart
  • DiamondtownCoal Township Pennsylvania Mortgage
  • Dooleyville
  • Dornsife
  • Doutyville
  • Dunkelbergers
  • East Chillisquaque
  • East Lewisburg
  • Elysburg
  • Excelsior
  • Fisherdale
  • Fishers Ferry
  • Goosetown
  • Gowen City
  • Greenbrier
  • Happy ValleyMt Carmel Marion Heights Kulpmont Mortgage
  • Hebe
  • Herndon
  • Hunter
  • Island Park
  • Klines Grove
  • Knoebels Grove
  • Kulpmont
  • Leck Kill
  • Limestoneville
  • Lithia Springs
  • Little Mahany
  • Locust Gap
  • Lower Augusta
  • Luke FidlerKnoebels Grove
  • Mandata
  • Marion Heights
  • Marshallton
  • Maysville
  • McEwensville
  • Meadowview
  • Merrian
  • Mile Hill
  • Mile Run
  • Milton
  • Montandon
  • Mount Carmel
  • Mt Carmel
  • Natalie
  • Oaklyn
  • Oak Park
  • Paxinos
  • Potts Grove
  • Ralpho
  • Ranshaw
  • Rebuck
  • Red Cross
  • Reeders Grove
  • Reed Station
  • Riverside
  • Rockefeller
  • Sagon
  • Schuyler
  • Sevenpoints
  • ShamokinShikellamy State Park
  • Snydertown
  • Stonington
  • Strong
  • Sunnyside
  • Tharptown
  • Trevorton
  • Turbotville
  • Upper Augusta
  • Upper Mahanoy
  • Urban
  • Watsontown
  • Watsonville
  • West Cameron
  • West Chillisquaque
  • Wolverton
  • Yordy
  • all rural areas

 

If you want to find out if a specific property is eligible for a USDA Mortgage in Northumberland County, simply click on the link for the USDA Mortgage Eligibility Map below, it will take you directly to the USDA home page....

USDA Mortgage Eligibilty Map

 

 

 

What are the USDA Mortgage Income Limits for Northumberland 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 Northumberland County Pennsylvania, the USDA Rural Development Mortgage is definitely worth a look. Feel free to contact me with any further questions about the program.

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Keith Landis is a Licensed Mortgage Loan Officer covering all of Pennsylvania.  He can be reached directly at 412-567-6560 at klandis@keystonehomefinance.com 

NMLS # 137243

 

Keystone Home Finance LLC - NMLS# 834342

 

www.keystonehomefinance.com

 

Comment balloon 0 commentsKeith Landis • October 13 2010 02:40PM
100% USDA Mortgage in Northumberland County, Pennsylvania
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Looking to buy a home in Northumberland County, Pennsylvania You might want to make a quick check to see if you and the property are eligible for a Pennsylvania USDA Mortgage also known as a Pennsylvania USDA Rural… more