Question 1

Does all of Colfax qualify for USDA financing?

Accepted Answer

Most areas east of Canyon Way qualify. Properties inside core town limits along I-80 typically don't meet rural designation requirements.

Question 2

What income counts toward USDA limits in Placer County?

Accepted Answer

All household income from adults living in the home counts. W-2 wages, 1099 income, rental income, and child support all factor into qualification calculations.

Question 3

Can I use USDA loans for properties with acreage?

Accepted Answer

Yes, but the land must be residential use only. Working ranches or commercial agriculture operations don't qualify under USDA single-family programs.

Question 4

How long does USDA underwriting take in mountain areas?

Accepted Answer

Expect 30-45 days from application to clear-to-close. Rural appraisals and well testing add two weeks versus suburban conventional loans.

Question 5

Do USDA loans cost more than conventional financing?

Accepted Answer

Upfront fees run higher with 1% guarantee cost. Monthly costs depend on credit and rates which vary by borrower profile and market conditions.

USDA Loans in Colfax: Zero Down Payment Home Financing