Thinking of Buying a Home in Newport, Pennsylvania?

Located in Perry County, the town of Newport, Pennsylvania has been zoned eligible for the USDA Mortgage Program. This means that qualified homebuyers can purchase a home with No Down Payment required and often with no money at all needed at closing.

How can I buy a home with no money needed at closing?

In addition to not requiring a down payment, the USDA Rural Loan is the only mortgage program that also allows borrowers to roll any closing costs into the loan itself. Whether the closing costs can be included in the loan amount or not depends on the appraisal. The appraised value of the home must support the loan amount needed to include the losing costs. With USDA loans, the seller can also pay the any closing costs.

Essentially, there are two different ways that a USDA Loan can be structured to limit or even completely eliminate any money due at closing from the buyer.

What credit score do I need to qualify for a USDA Loan?

The credit score needed does depend somewhat on your exact situation. It is possible to get approved for a USDA loan with a credit score of just 580, however, if you have a score of at least 640, your path to approval will be easier. Credit scores below 640 will be looked at with tighter scrutiny. If your score is below 640, you’ll need to show 12 months of clean housing history. This means if you are currently renting, the USDA underwriter will want to see 12 months of cancelled rent checks.

What are the income requirements to qualify for a USDA Loan?

When it comes to income verification for a USDA loan, ”Not too much, Not too little” is the mantra. You need to show enough income to qualify for the mortgage payment but not so much income that you fall outside of the maximum household income limits. Household Income Limits are set according to the county of Residence.

Perry County USDA Income Limits

If your income is above the income limits listed here, feel free to contact us. There are a few deductions available that could possibly get your adjusted income within the USDA limits.

What other areas around Newport are eligible for the USDA Rural Loan Program?

The USDA has declared all of Perry County as eligible for the USDA Mortgage program.

USDA Eligible Towns in Perry County, Pennsylvania

• Acker

• Alinda

• Andersonburg

• Bailey

• Blain

• Bixler

• Bridgeport

• Center Square

• Centerville

• Centre

• Cisna Run

• Couchtown

• Cove

• Crums Corners

• Dellville

• Donnally Mills

• Dromgold

• Duncannon

• Elliottsburg

• Erly

• Eshcol

• Falling Spring

• Fort Robertson

• Glenvale

• Gramere

• Half Falls

• Ickesburg

• Juniata Furnace

• Keystone

• Kinkora Heights

• Kistler

• Landisburg

• Little Germany

• Liverpool

• Losh Run

• Loysville

• Mannsville

• Markelsville

• Marysville

• McKee

• Mecks Corner

• Millerstown

• Milltown

• Montebello

• Montgomery Ferry

• Mount Patrick

• Mount Pleasant

• Nekoda

• New Bloomfield

• New Buffalo

• New Germantown

• Newport

• Oakgrove

• Old Ferry

• Perdix

• Pfoutz Valley

• Pine Grove

• Reward

• Rose Glen

• Roseburg

• Saville

• Seyoc

• Shermans Dale

• Stony Point

• Sundy Place

• Wahneta

• Walnut Grove

• Wardville

• Wila

• all other areas are eligible