How to Buy a Home in Perkasie, Pennsylvania with No Down Payment
Perkasie, Pennsylvania is eligible for a No Down Payment USDA Loan
Before you decide to buy a home in Perkasie, check out the USDA Loan Program.
Buying a home with the USDA Loan Program allows you to skip the need for a down payment and often you do not need any money at closing.
The USDA Loan Program is available in all areas of Perkasie, Sellersville, Hilltown Township, East Rockhill Township, and West Rockhill Township. Essentially, you can buy a house anywhere in the Pennridge School District without the need for a Down Payment.
To find out about other areas of Bucks County, Pennsylvania that are eligible visit the Bucks County USDA page.
Benefits of the USDA Mortgage Program
USDA Mortgages do not require a Down Payment
USDA Mortgages allow the Seller to pay up to 6% of the sales price towards the Buyer’s closing costs
USDA Mortgages allow the closing costs to be financed into the loan amount, if the appraised value supports the needed loan amount
USDA Mortgages are only offered as 30 year fixed mortgages
USDA Mortgages can be paid ahead of schedule or can be paid off at any time with no prepayment penalties
USDA Mortgages are not only offered in rural areas
USDA Mortgages are also available in many large towns and suburbs of cities
Bucks County USDA Household Income Limits
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)