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USDA Loans in Parlier
Parlier qualifies for USDA financing as a designated rural area under federal lending guidelines. Most properties in the city meet the program's location requirements.
Agricultural workers and service industry employees often use USDA loans here because of the zero down payment structure. Income limits align well with local wages in Fresno County's farming communities.
You need a 640 credit score minimum with most lenders, though some approve at 620. Income can't exceed 115% of the area median for Fresno County.
The property must be your primary residence and meet USDA size limits. Most single-family homes in Parlier qualify, but you can't buy investment properties or vacation homes with this loan.
Not all wholesale lenders handle USDA loans because of the additional paperwork. We work with about 30 lenders who actively close USDA deals in the Central Valley.
Processing takes 35-45 days on average, longer than conventional loans. The USDA guarantee fee runs 1% upfront plus 0.35% annually, which you can roll into the loan amount.
Most Parlier buyers we work with earn between $45,000 and $75,000 annually. At those income levels, you can afford properties up to about $285,000 while staying under the income caps.
The biggest mistake is assuming USDA only works for farms or acreage. Standard subdivision homes qualify just fine. We've closed USDA loans on everything from newer tract homes to older properties near downtown Parlier.
FHA requires 3.5% down plus higher mortgage insurance premiums. On a $250,000 home, that's $8,750 upfront versus zero with USDA.
Conventional loans need 5% down minimum and stronger credit. USDA beats both for borrowers with limited savings who qualify by location and income.
Parlier's property types work well for USDA because most homes sit on standard residential lots. Properties with agricultural wells or outbuildings sometimes need extra appraisal review.
Seasonal employment in agriculture affects income documentation. We calculate income using two years of tax returns to smooth out harvest season fluctuations and off-season periods.
No. Standard residential properties qualify as long as they're in Parlier's city limits. The USDA designation covers the entire city, not just agricultural parcels.
All household income from adults who will live in the home. This includes wages, self-employment, child support, and most benefits except temporary assistance.
Yes. We calculate your income using a two-year average from tax returns. This accounts for seasonal variation in farm work throughout the year.
Expect 35-45 days from application to closing. The USDA review adds time compared to conventional loans, but zero down payment makes it worth the wait.
Most lenders require 640, though some approve at 620. Lower scores need stronger compensating factors like larger cash reserves or stable employment history.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.