Question 1

Is Carmel-By-The-Sea eligible for USDA loans?

Accepted Answer

Most of Carmel-By-The-Sea falls outside USDA rural eligibility zones. Always verify a specific address on USDA's eligibility map before assuming.

Question 2

What are the income limits for USDA loans in Monterey County?

Accepted Answer

USDA sets income limits by county and household size. Monterey County limits apply, and many Carmel households earn above them.

Question 3

Can I use a USDA loan anywhere in Monterey County?

Accepted Answer

Not everywhere. Inland and more rural parts of Monterey County may qualify. Coastal cities like Carmel typically do not.

Question 4

What loan should I use instead of USDA in Carmel?

Accepted Answer

FHA, VA, and Conventional loans all work in Carmel without geographic restrictions. VA is the only other zero-down option available.

Question 5

Does USDA require mortgage insurance?

Accepted Answer

Yes. USDA charges an upfront guarantee fee and an annual fee. Both are typically lower than FHA mortgage insurance premiums.

Question 6

How do I check if a specific address is USDA-eligible?

Accepted Answer

Use USDA's official eligibility map and enter the property address. We can also check this for you before you get too far into a deal.

USDA Loans in Carmel-By-The-Sea: What You Need to Know