USDA LOAN BENEFITS IN MAINE
USDA Home Loans offer flexible credit requirements along with NO MONEY DOWN. The interest rates are competitive and you can close your loan in roughly 45 days. The USDA Home loan is a great loan for those individuals with limited and average or below average credit profiles. A credit score of 620 is required to qualify for a USDA Loan, and a credit score of 640 drastically increases your chances. If you are close to either of these credit scores, contact one of our USDA Loan agents today to see how we can help you improve your credit score.
USDA LOAN ELIGIBILITY IN MAINE
Communities of approximately 35,000 people or less will qualify for a USDA Loan. These communities are set forth by the USDA Loan Program, but are not as clearly defined as city lines. If you meet the credit and income guidelines, please apply and let one of our certified USDA Loan Agents do the rest of the work to see if you qualify.
To qualify for a USDA Loan, USDA Loan Underwriters will want to make sure that you meet income guidelines. USDA Loan income guidelines are based off of your household size and the county of your residence. Below is a list of income limits by county in Maine.
Income Limits for USDA Loans in Maine
| County Name | Family Size 1 -4 | Family Size 5 – 8 |
|---|---|---|
| Androscoggin | $78,200 | $103,200 |
| Aroostook | $78,200 | $103,200 |
| Cumberland | $83,400 | $110,100 |
| Franklin | $78,200 | $99,850 |
| Hancock | $78,200 | $99,850 |
| Kennebec | $78,200 | $99,850 |
| Knox | $78,200 | $99,850 |
| Lincoln | $78,200 | $99,850 |
| Oxford | $78,200 | $99,850 |
| Penobscot | $78,200 | $99,850 |
| Piscataquis | $78,200 | $99,850 |
| Sagadahoc | $82,250 | $108,550 |
| Somerset | $78,200 | $99,850 |
| Waldo | $78,200 | $99,850 |
| Washington | $78,200 | $99,850 |
| York | $83,000 | $109,550 |
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