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Charlotte, Fort Mill, Lake Wylie, Loans, Rock Hill

USDA Loans in Fort Mill, SC and Rock Hill, SC

August 6, 2009 by Becky Smith · Leave a Comment 

Recently a Buyer Client bought a home using Janet Gaglione of  South Carolina Bank & Trust. The loan was a USDA 100% loan. Janet did a fantastic job and even attended settlement. For more information on USDA guidelines, Janet compiled the  information below.

USDA / Rural Housing

 This program has been around for as long as I can remember.  It is the new and improved version of the Farmers Home Loan.

 It has been totally revamped to offer a viable financing option to many purchasers in today’s market place so don’t let the nightmares of long ago influence a decision away from this excellent financing option.

Application to closing is easily accomplished within 30 – 45 days with an experienced lender, which is comparable to any other type of government financing.  There is a 2% funding fee that is added to the loan amount, however there is no monthly mortgage insurance premium added to your monthly payment amount.  To compare with FHA financing which has an up-front mortgage insurance premium of 1.75% added to the loan amount along with the monthly insurance premium.

All of Lancaster county is eligible and a large portion of York is eligible.  To find if a property is eligible go to

York’s maximum income is $76,500 for a family of 1-4 and $101,000 for a family of 5-8

Lancaster’s maximum income is $73,600 and $97,150 respectively. I will be happy to answer any questions that you may have on this program.

 Janet Gaglione   

704-608-4139 cell

 RX Becky Business photo

Thinking of buying a house under the USDA program?  Contact  Becky Smith of  RE/MAX Metro and Carolina Realty Team 704-588-7442 or

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