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Exeter qualifies for USDA financing because it sits outside major metro boundaries. Most single-family homes here meet USDA property standards.
Agricultural workers and families priced out of Visalia often overlook this program. Income limits work differently than most borrowers expect.
USDA treats household income strictly. A family earning $110,000 won't qualify even with perfect credit.
The zero down structure means you can buy in Exeter without years of saving. Closing costs still apply but sellers can contribute up to 6%.
USDA Loans in Exeter
You need 640 credit minimum with most lenders. Some approved USDA lenders go to 620 but pricing worsens.
Income limits adjust for household size. A four-person household caps around $103,500 in Tulare County.
The property must be your primary residence. Investment properties and second homes don't qualify.
Debt-to-income can stretch to 46% with strong compensating factors. Most approvals land between 41-43%.
Local decision guide
Use this guide to connect usda loans eligibility, lender expectations, and local market factors before comparing payment options in Exeter.
Exeter qualifies for USDA financing because it sits outside major metro boundaries. Most single-family homes here meet USDA property standards.
Agricultural workers and families priced out of Visalia often overlook this program. Income limits work differently than most borrowers expect.
USDA treats household income strictly. A family earning $110,000 won't qualify even with perfect credit.
Not every lender handles USDA loans. Many credit unions avoid them because processing takes longer than conventional.
Guarantee fees replace mortgage insurance. You pay 1% upfront and 0.35% annually, both lower than FHA.
Appraisals must meet USDA property standards. Wells, septic systems, and outbuildings get scrutinized more than conventional appraisals.
Processing typically takes 35-45 days. Budget extra time if the property needs USDA-required repairs.
I see Exeter buyers skip USDA because they assume income limits disqualify them. Run the numbers first.
Farm income gets treated differently than W-2 wages. If you work in agriculture, two years of stable employment matters more than job title.
The guaranteed underwriting system flags applications automatically. Small collections under $2,000 often don't stop approval.
Exeter properties with acreage over one acre face extra scrutiny. USDA wants assurance the land serves the residence, not commercial farming.
FHA requires 3.5% down and charges higher mortgage insurance. USDA costs less monthly if you qualify.
Conventional loans need income verification but skip property restrictions. You gain flexibility but lose zero down access.
VA loans beat USDA if you have military service. No income caps and no guarantee fee make VA superior for veterans.
The real comparison comes down to what you have saved. USDA works when savings sit below $10,000 but income stays reasonable.
Exeter sits firmly in USDA eligible territory. The entire city qualifies, unlike Visalia where only fringe areas work.
Water rights matter on rural parcels. USDA appraisers verify adequate domestic water supply before approval.
Most homes built before 1978 need lead paint inspections. Budget $400-600 for testing and any required remediation.
Tulare County processing happens through the Sacramento USDA office. Local title companies familiar with USDA requirements move deals faster.
All household members over 18 count, even if they're not on the loan. This includes adult children still living at home.
The property must be move-in ready at closing. USDA doesn't allow renovation contingencies or repair escrows beyond minor fixes.
Expect 35-45 days total. The conditional approval comes quickly but final USDA sign-off adds 7-10 days.
Yes, but the well needs testing for flow rate and water quality. Contamination or inadequate production kills the deal.
Sellers can contribute up to 6% of the purchase price. That typically covers your entire closing cost burden.