Am I Eligible For A USDA Loan In Bastrop County?

Is everyone eligible for a USDA home mortgage loan?

To be eligible, applicants must:

• Purchase a primary residence. Investment properties are not allowed.
• Have an adequate and dependable income; Be a U.S. citizen, qualified alien, or be legally admitted to the United States for permanent residence
• Have an adjusted annual household income that does not exceed the moderate income limit established for Bastrop County. A family’s income includes the total gross income of the applicant, co-applicant and any other adults in the household. Applicants may be eligible to make certain adjustments to gross income such as annual child care expenses and $480 for each minor child in order to qualify.
• We can help borrowers in Bastrop with a credit score as low as 620 with a reasonable credit history.

Does every home qualify for a USDA home loan?

Homes That Qualify In Bastrop, TX:

• New or existing homes.
• Existing homes must be structurally sound, functionally adequate, and in good repair
• There are no restrictions on the size or design of the home financed
• The home must not be used for income-producing purposes
• Homes must be located in rural areas, some city outskirt areas may qualify.

What is considered a rural area?

Rural areas include open country and places with a population of 10,000 or less and under certain conditions towns, cities, and outskirts with between 10,000 and 25,000 residents. There are many areas around Bastrop County that qualify.

Click here to find out if you qualify to apply for a USDA Loan in Bastrop County, Texas, or fill out the form above to let us help you.