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how much lot/land can i get with USDA rural loan

whats the max acreage for example i would qualify for? i have 710 credit and have owned before. i do not have a mortgage now it was dissolved in divorce in 2008 but i am in a position to buy again, this time through USDA. would i be able to get 5 acres financed? by khreeta74u3486 from Glen Allen, Virginia. Aug 20th 2014 Reply


Joe Metzler (JoeMetzler)
#18 ranked lender in Minnesota - 4,843 contributions

USDA rural development loans do not have an official acreage limit, but they limit the value of the land to 30% of the total purchase price. Generally speaking, most properties start having issues then once you get above about 5 acres. USDA also has physical location limits (must be rural), and income limits based on family size and the county the property is located. Contact a local mortgage broker in your area who specializes in USDA loans for more in formation. In MN, WI, and SD, visit www.JoeMetzler.com/usda

Aug 20th 2014
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NA NA (notapplicable)
#8 ranked lender in Virginia - 15 contributions

USDA Rural Development loans do not have an acreage limit but they do have a site value limit of 30%. Also, there are geographic and income restrictions: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1I would be happy to talk with you in further detail about the program! We are in Virginia. Feel free to email me anytime: jason@crownmortgage.com

Aug 20th 2014
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Sonya St Jacques (sstjacques@mmcdcorp.com)
#75 ranked lender in Virginia - 24 contributions

I would love to talk to you about USDA loans in our area (I am located just across the river in Bon Air). They do not have an acreage limit but limit the value of the land to 30% of the total value so you can probably get away with 5 or six acres in our immediate area. Were you planning on building? We have a relationship with Oakwood and Clayton Homes to build modular homes with USDA funds. This is a great way to get a "new" home in the country. Give me a call and we can walk through all your options where Rural Housing is concerned!

Aug 20th 2014
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Ken Mextorf (KenMextorf)
#76 ranked lender in Virginia - 5 contributions

There are no acreage limits with USDA loans but the land can not be greater than 30% of the total value of the property. A check of the tax assessment records would give you an idea up front of there was going to be an issue with this area. I would be happy to talk to you about the program and some other options that might be available to you for your purchase. Just email me at ken.mextorf@townebankmortgage.com and we can set up a time to discuss the possibilities.

Aug 20th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

There is no limit to the acreage, but the land value cannot be more than 30% of the overall value of the property.. The best advice I can give you is to contacting a LOCAL mortgage broker and apply with them. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Aug 20th 2014
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