Question 1

Is Point Arena eligible for USDA loans?

Accepted Answer

Yes. Point Arena meets USDA's rural area definition. Confirm the specific property address on the USDA eligibility map before going under contract.

Question 2

What are the income limits for Mendocino County?

Accepted Answer

USDA sets limits by household size and county. Check the current USDA income limit tool — limits adjust periodically and vary by family size.

Question 3

Can I buy a fixer-upper with a USDA loan?

Accepted Answer

Only if it meets minimum property standards at appraisal. Significant repairs usually need to be completed before closing.

Question 4

How long does USDA loan approval take?

Accepted Answer

Expect 30-45 days. USDA files require an extra approval step through the agency. Choose a lender with rural loan experience.

Question 5

Does USDA charge mortgage insurance?

Accepted Answer

Yes — an upfront fee of 1% of the loan amount plus 0.35% annually. Both are lower than FHA's mortgage insurance rates.

Question 6

Can sellers pay closing costs on a USDA loan?

Accepted Answer

Yes. USDA allows sellers to cover closing costs. In a slower market like Point Arena, this is worth negotiating.

USDA Loans in Point Arena: Zero Down in Mendocino County