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Fresno County's $5.06 million NEO jobs program is connecting residents with stable employment through 2028, anchoring the local economy. At 6.125%, a $200,000 USDA loan runs $1,215 monthly for principal and interest alone.
USDA loans dominate rural California because they require zero down and no mortgage insurance. Kerman qualifies as a USDA-eligible property, making this the path for buyers who have the income but not the 20% down payment conventional lenders demand.
6.125%
Interest Rate
$1,215
Monthly P&I
740
FICO Minimum
$0
Down Payment
None
Mortgage Insurance
USDA Loans in Kerman
USDA loans require a 740 FICO minimum and zero down payment. Income limits cap out at 115% of area median income—roughly $82,150 for a household in Fresno County. If you're under that ceiling and have stable employment, you qualify on paper.
The county's $71,434 median household income stretches to cover a $200,000 home comfortably under USDA debt-to-income rules. Most lenders allow up to 43% DTI, meaning a household earning $71,434 can carry roughly $2,550 monthly in total debt.
Local decision guide
Use this guide to connect usda loans eligibility, lender expectations, and local market factors before comparing payment options in Kerman.
Fresno County's $5.06 million NEO jobs program is connecting residents with stable employment through 2028, anchoring the local economy. At 6.125%, a $200,000 USDA loan runs $1,215 monthly for principal and interest alone.
USDA loans dominate rural California because they require zero down and no mortgage insurance. Kerman qualifies as a USDA-eligible property, making this the path for buyers who have the income but not the 20% down payment conventional lenders demand.
USDA loans require a 740 FICO minimum and zero down payment. Income limits cap out at 115% of area median income—roughly $82,150 for a household in Fresno County. If you're under that ceiling and have stable employment, you qualify on paper.
USDA loans are offered by both retail banks and mortgage brokers, but brokers typically close them faster. Retail lenders like Wells Fargo and Bank of America carry USDA programs but with longer timelines and stricter overlays.
California brokers compete hard on USDA pricing because the program is standardized—no lender can claim a rate advantage. The real difference is service speed and willingness to work with non-pristine credit.
USDA financing makes sense in Kerman if you have stable income under the 115% ceiling and a 740+ FICO. Above $200,000, conventional loans start to pencil better because USDA's annual 0.35% fee compounds over 30 years. For Kerman's price range, USDA wins.
The real advantage isn't the rate—it's zero down. Conventional 5% down on a $200,000 home costs $10,000 upfront plus PMI. USDA costs nothing down and no insurance. That $10,000 stays in your pocket for closing costs and reserves.
Conventional loans at 5% down require PMI that never cancels unless you refinance. USDA carries an annual 0.35% fee instead—roughly $70 per year on a $200,000 loan. Over 30 years, USDA's fee is lower and you keep the $10,000 down payment.
FHA loans run lower rates but require 3.5% down and mortgage insurance for life if you put down less than 10%. USDA has no insurance and zero down, making it the cleaner choice for Kerman buyers who qualify on income.
The state's $100 million downtown Fresno infrastructure investment signals long-term stability in the county. That kind of public commitment supports property values for buyers in Kerman, which sits 20 miles south.
Fresno's Rogue Performance Festival and new Horn Barbecue at Granite Park show the region is investing in lifestyle and culture. Kerman buyers benefit from proximity to those amenities without paying Fresno prices.
No. USDA loans require zero down payment. You finance 100% of the purchase price with no down payment required. That's the core advantage over conventional and FHA loans.
At 6.125% with 0.429 discount points, the principal and interest payment is $1,215 monthly on a $200,000 loan. Add property taxes, insurance, and the 0.35% annual USDA fee for your total monthly cost.
Most lenders require a 740 FICO minimum. Some brokers work with 700+ scores, but 740 is the standard floor. Your income and debt-to-income ratio matter more than a perfect credit score.
You must earn under 115% of the county's median household income, roughly $82,150. Most lenders allow up to 43% debt-to-income ratio, so a $71,434 household income comfortably qualifies for a $200,000 loan.
No. USDA loans have no mortgage insurance. Instead, you pay a 0.35% annual fee on the loan balance—roughly $70 per year on a $200,000 loan. That's far lower than PMI on conventional or FHA loans.