Question 1

What parts of Moraga are eligible for USDA loans?

Accepted Answer

USDA eligibility changes periodically based on census data. Check the USDA property eligibility map with your specific address, as certain neighborhoods may qualify while others do not.

Question 2

What are the income limits for USDA loans in Contra Costa County?

Accepted Answer

Income limits vary by household size and adjust annually. A family of four typically faces a limit around 115% of area median income, which your lender will verify during pre-approval.

Question 3

Can I use a USDA loan for a condo in Moraga?

Accepted Answer

Yes, condos can qualify if the property is in an eligible area and the complex meets USDA approval standards. The condo project must be on the USDA approved list.

Question 4

How long does USDA loan approval take in Moraga?

Accepted Answer

Expect 45-60 days from application to closing. The USDA guarantee process adds time beyond typical loan processing, so plan your purchase timeline accordingly.

Question 5

Do USDA loans cost more than conventional mortgages?

Accepted Answer

USDA loans charge a 1% upfront guarantee fee and 0.35% annual fee. Total costs often run lower than FHA insurance, making USDA competitive despite the additional fees.

USDA Loans in Moraga: Zero Down Payment Home Financing for Contra Costa County Buyers