Question 1

Can I get a USDA loan in Ross if my income is $160,000?

Accepted Answer

Yes. USDA's income limit is $164,504 (115% of Marin's median). At $160,000, you qualify. Income is the primary gate—if you're under the limit and have 740+ FICO, you're eligible.

Question 2

What's my monthly payment on a $200,000 USDA loan at today's rate?

Accepted Answer

Principal and interest run $1,215 monthly at 6.125% (APR 6.182%). Add property taxes, insurance, and the 0.35% annual USDA fee ($58/month). Total housing cost runs roughly $1,500–$1,700 depending on taxes and insurance.

Question 3

Do I pay mortgage insurance with a USDA loan?

Accepted Answer

No. USDA loans carry zero mortgage insurance, ever. You pay a 1% upfront fee ($2,000 on $200K) and 0.35% annually ($700/year). No PMI, no MIP, no ongoing insurance premium.

Question 4

How long does a USDA loan close take in Marin County?

Accepted Answer

Expect 45–60 days. USDA loans move slower than conventional because USDA guarantees the loan after closing. Appraisals also take longer—the appraiser must verify the property is in a USDA-eligible rural area.

Question 5

What if my income exceeds the USDA limit?

Accepted Answer

You're ineligible for USDA. The income cap is firm at $164,504. Above that, conventional or FHA loans are your options. Conventional at 5% down ($10,000) plus PMI is the typical alternative.

USDA Loans in Ross: Zero-Down Financing for Marin County Homebuyers