USDA Loans New Jersey Income Limits

  • by
usda property eligibility nj

Buying a new home in the Garden State could finally be within reach with a USDA home loan.

USDA Loans NJ Income Limits

USDA loans offer a variety of great benefits such as fixed and competitive interest rates, zero down payment, and flexible credit and lending guidelines.

So you’re probably thinking, USDA loans are for farms and low income families, but that is far from the truth. So exactly, what is the deal with USDA Loans NJ Income Limits in 2019?

For starters, the 502 Guaranteed USDA home loans are only for residential properties and for the sole use as a primary residence. Furthermore, it cannot have any income producing characteristics; so farms, multi-unit homes, mixed-use properties, and excess acreage of land is not eligible for the program.

As mentioned previously, another misconception about USDA loans in New Jersey are that they are only for low income families.

This is quite on the contrary, for a family of 1-4 people, the average household income limit for a USDA loan in New Jersey is around $103,350 a year, and the limit can be as high as $136,350 for families of 5 or more.

The USDA also allows for several ways to reduce your income to qualify for this great program. It is wise to speak a USDA specialist about your qualifications as most lenders and loan officers do not know all these methods to help a borrower qualify.

For more information on qualifying areas, check out the USDA property eligibility page.

A sample of what this USDA Area Eligibility Map Looks like is below this sentence

What is a USDA Loan

This map will show the areas of New Jersey that qualify for USDA loans using a color coded legend. The tan colored areas are ineligible.

usda home loan zones nj

Below you will find a link to the USDA income limits for New Jersey


USDA Home Loan Income Limits New Jersey Continued:

• NO down payment – Finance 100% of your home
• NO maximum loan amount in New Jersey.
• NO assets needed to qualify
• Flexible credit guidelines
• Competitive, fixed interest rates so payments do not increase
• USDA Loans are for new construction and existing properties

NJ State Income Limits

Allentown-Bethlehem-Easton, PA-NJ MSA
1 – 4 Person Household $103,350.00
5 – 8 Person Household $136,350.00

Warren County, NJ HUD Metro FMR Area
1 – 4 Person Household $103,350.00
5 – 8 Person Household $136,350.00

Atlantic City-Hammonton, NJ MSA
1 – 4 Person Household $91,550.00
5 – 8 Person Household $120,850.00

Start your New Jersey USDA home loan now! Go to USDA Loans and fill out this quick form to get started & a USDA loan specialist will contact you with your options.

If you’re still wondering to yourself, “What Exactly is a USDA Loan?” Then rest assured, we took care of it. Simply click the link here which will take you to our USDA Loans Complete Guide to get started. In this guide, we will be covering in 10 easy to read chapters and sections:

Chapter 1: What is a USDA Loan?

Chapter 2: USDA Loan Benefits: Pros and Cons

Chapter 3: USDA Loan Eligibility

Chapter 4: USDA Loan Income Limits

Chapter 5: USDA Property Eligibility

And more!

Calculate Where You fit in with the USDA Loans New Jersey Income Limits

Our USDA Loan Calculator is an excellent tool to keep handy and it’s free as well as easy to use: