Are you looking for a home in a small city, maybe a home out in the country? A USDA mortgage might be perfect for you!

USDA or rural development mortgages are for those that are buying outside the metro area. But depending on where you are buying, it’s not that far from the Minneapolis/St Paul metro area!  For those looking in the south metro, Elko New Market qualifies, so does Belle Plaine and even some areas of Jordan.  Zimmerman can qualify on the northwest end.

The benefits to rural development mortgages are easy – zero down!  It’s one of two mortgages that allow you  to have no money down!  The guarantee fee and monthly fee are lower than FHA mortgage insurance and typically the rates are going to be similar to FHA rates.  It can be a great way for someone to buy a first home!

There is an income limit and it’s similar to the first time homebuyer limits.  If you are buying in the Minneapolis St Paul areas, the income limit is $97,750 for a family of 4, it’s higher if the family is larger. For those buying in Le Sueur county, the limit is $89,450 for a family of 4. If you are buying in Mille Lacs County, the limit is $83,800.  The income limits vary by county but are available on the USDA website. The website is at

Feel free to contact me or your loan officer for more information on the program.  It might be a terrific way for you to get into the home you have been looking at!

Leslie Vanderwerf,  NMLS ID#335509, American Mortgage & Equity Consultants, Inc., An Equal Housing Lender, NMLS#150953 – Email – Website

About Leslie Vanderwerf

Currently a Branch Manager for American Mortgage and Equity Consultants, Inc., it's hard to believe I have been in the mortgage business for more than 25 years and have worked with Sharlene since 2000! I love sharing mortgage insights here each week and helping people finance their homes. Listening helps me find the right program for you!

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