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Looking to buy in Montgomery County, Iowa?
There are 112 USDA backed residential loans in Montgomery county with an average loan balance of $69,263. Over 70% of the loans helped first time home buyers. Borrowers were an average age of 39 years old. The typical appraised home value was around $72,980. On average the rural home size purchased with this loan was approximately 1,350 SqFt. Montgomery county applies the standard USDA income limits to determine loan eligibility. For a household of upto 4 people the income limit is $90,300. For a household of between 5 and 8 people the income limit is increased to $119,200.
The size of Montgomery County is roughly 1,097 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Montgomery County is 6. Look below for the interactive county level map illustration below for more details.
Start your search for USDA loan eligible properties in the cities of Montgomery County, IA
* cities most likely to have USDA loan eligible properties for sale.
*Coburg • *Elliott • *Grant • Hawthorne • McPherson • Morton Mills • *Red Oak • Sciola • *Stanton • Stennett • Tenville • *Villisca • Wales • Wallin
A USDA loan is a mortgage option available to eligible homebuyers that is sponsored by the United States Department of Agriculture to promote homeownership in rural communities. USDA Loans, sometimes called "RD Loans," offer 100% financing options on eligible rural properties. USDAProperties can help you find USDA properties in Montgomery County.
Montgomery County, located in southwestern Iowa, was established on January 15, 1851, and named in honor of Richard Montgomery, an Irish-American soldier who served as a major general during the American Revolutionary War. The county seat, Red Oak, was chosen in 1864 as a business and government center. Red Oak is known for its history, particularly for its role in the American Civil War.
Agriculture was the primary industry in Montgomery County from its inception, with crops like corn, wheat, and potatoes, as well as livestock, playing a significant role in the county's economy. The arrival of the Chicago, Burlington, and Quincy Railroad in the area during the late 1860s boosted commerce and fueled the growth of Red Oak as a business center. Over the years, the county has experienced transitions in its economic activities - from agricultural activities to manufacturing industries, such as factories producing farm equipment, fire trucks, tires, and other products.
A fun fact about Montgomery County is that it is home to the American Small Farm, a living museum that allows visitors to step back in time and experience the challenges and joys of 18th-century American life. The American Small Farm provides an opportunity for visitors to see how early settlers lived and farmed, making it an essential destination for understanding the region's history.