USDA LOAN BENEFITS IN NEW JERSEY
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 ELIGIBILITY IN NEW JERSEY
Typically, cities or towns of 35,000 residents or less will qualify for the USDA Home Loan. However, the boundaries for qualifying areas set by the USDA Loan Program does not have the type of clearly defining boundaries like that of cities or counties, so apply now to work with one of our certified USDA Loan agents to determine if the home you want to purchase qualifies.
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 New Jersey.
| County Name | Family Size 1-4 | Family Size 5-8 |
|---|---|---|
| Atlantic | $91,550 | $120,850 |
| Bergen | $101,550 | $134,050 |
| Burlington | $95,650 | $126,250 |
| Camden | $95,650 | $126,250 |
| Cape May | $91,550 | $120,850 |
| Cumberland | $91,550 | $120,850 |
| Essex | $97,750 | $129,050 |
| Gloucester | $95,650 | $126,250 |
| Hudson | $101,800 | $134,400 |
| Hunterdon | $110,850 | $146,300 |
| Mercer | $99,500 | $131,350 |
| Middlesex | $99,250 | $131,000 |
| Monmouth | $99,250 | $131,000 |
| Morris | $97,750 | $129,050 |
| Ocean | $99,500 | $131,350 |
| Passaic | $101,550 | $134,050 |
| Salem | $95,650 | $126,250 |
| Somerset | $110,850 | $146,300 |
| Sussex | $97,750 | $129,050 |
| Union | $97,750 | $129,050 |
| Warren | $97,750 | $129,050 |
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