Centre County USDA Loan
What areas of Centre County are eligible for the USDA Mortgage Program?
Almost all of Centre County Pennsylvania is geographically eligible for a No Down Payment USDA Mortgage. The only area of Centre County that is not eligible for a USDA loan is the majority of the town limits of State College . The outskirts of State College, as you move farther from the University campus. do open up as USDA Eligible again. Many people who work at Penn State or in State College itself will be able to purchase a home in a USDA Eligible area just outside of the central town limits of State College.
Some of the larger towns in Centre County Pennsylvania that are eligible for a USDA loan include Bellefonte, Boalsburg, and Philipsburg.
USDA Eligible Areas in Centre County, Pennsylvania
Harris Acres (parts)
Pine Grove Mills
any obvious rural locations
Note: This list is an indicator of USDA Eligible Areas for the County but does not necessarily include every possible eligible area. If you do not see your town listed, feel free to contact us to double check. If you are in a rural area and do not see your town listed above, you are in a USDA Eligible Area.
Centre County USDA Household Income Limits
If your Household Income exceeds the listed figure, the USDA allows for several deductions which may allow your Household Income to fit within their Maximum Adjusted Income Guidelines.
Deductions to reduce your USDA Household Income Calculation
$480 for each minor child living in the household
$480 for any student living in the household who is not on the mortgage application
$400 for each disabled household member who is not on the mortgage application
Documented Child Care Expenses for household members under the age of 13
Documented Medical/Disability Expenses for household members age 62 or older (this deduction is allowable if the expense exceeds 3% of the household income)