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There are 294 USDA backed residential loans in Pennington county with an average loan balance of $107,570. Over 86% of the loans helped first time home buyers. Borrowers were an average age of 33 years old. The typical appraised home value was around $108,200. On average the rural home size purchased with this loan was approximately 1,233 SqFt. Alternate income limits exist to determine loan eligibility in Pennington county. For a household of upto 4 people the income limit is $92,600. For a household of between 5 and 8 people the income limit increases to $122,250.
The size of Pennington County is roughly 1,602 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Pennington County is 8. 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 Pennington County, MN
* cities most likely to have USDA loan eligible properties for sale.
*Goodridge • Hazel • High Landing • Mavie • River Valley • *Saint Hilaire • *Thief River Falls
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 Pennington County.
Pennington County is located in the northwestern region of the great state of Minnesota. It was established on November 23, 1910, and was named in honor of Edmund Pennington, a prominent railroad executive who served as the second vice president of the Northern Pacific Railway. The county was formed from sections of Red Lake County, which served as its parent county.
The county seat of Pennington County is Thief River Falls, a city that developed around the confluence of the Thief and Red Lake rivers. Historically, the area was inhabited by Ojibwa and Dakota people and served as a fur trading post in the 19th century. The town's growth was primarily driven by the arrival of the railroad in the 1880s, which provided a significant boost to the local timber industry and later to agriculture.
Today, Pennington County's economy is diverse and includes agriculture, manufacturing, and services sectors, with major employers such as Digi-Key and Arctic Cat. The county has a total area of 618 square miles, with a mix of forested areas, farmland, and several parks and natural areas for recreational activities.
Fun Fact: Pennington County is home to the annual "Thief River Falls Winterfest", a popular winter event that includes ice sculpting, snowmobile races, and other winter-themed activities. This event draws numerous visitors to the region each year, promoting community engagement and contributing to local tourism.