USDA-eligible communities like Pleasant Garden can be found 10 miles outside the city. Despite its rapid growth, median home prices in and around the city remain affordable. With a population of nearly 300,000, Greensboro is the third largest city in North Carolina. Raleigh’s median home price: $412,500, with more affordable areas as you venture away from the city. If you want to be close to the action but still in a USDA-eligible area, there are endless options including Clayton, Wendell, and Rolesville. As part of the Research Triangle Region, it’s home to many technology companies (and employment opportunities). The Raleigh-Durham area is one of the fastest growing in the state. If you’re looking for a bit more bustling suburb, USDA-eligible area Lincolnton is a town of over 10,000 and is about an hour away from the city center.Ĭharlotte’s median home price: $390,000, with more affordable pockets near $300,000 in many neighborhoods. Cities like Lowesville and Stanley are USDA-eligible areas that offer just a 30-minute commute into the city. Some of your best options include the following.Ĭharlotte is one of the fastest-growing cities and the commercial hub of North Carolina. Homes in most parts of North Carolina are eligible, with the exception of those in major cities such as Charlotte, Fayetteville, and Raleigh. This will provide a clear idea of the areas that are and are not eligible. The best thing you can do is review the USDA’s interactive eligibility map before you begin your home search. One of the primary features of the USDA program is that it’s available to buyers looking to purchase in rural areas. In other words, the program benefits both lenders and borrowers. The program provides a note guarantee to lenders in the case of default.USDA loans are for low and moderate-income households.Specific USDA loan requirements must be met.With a 90 percent loan note guarantee from the USDA, lenders aren’t taking on a large risk. ![]() Department of Agriculture, the USDA loan program assists lenders in providing low-income and moderate-income households the opportunity to purchase a home in eligible rural areas throughout the United States.Īdditionally, eligible borrowers can purchase, rehab, build, or relocate a home with 100 percent financing and no down payment required.
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