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There are 47 USDA backed residential loans in Madison county with an average loan balance of $164,684. Over 78% of the loans helped first time home buyers. Borrowers were an average age of 40 years old. The typical appraised home value was around $168,334. On average the rural home size purchased with this loan was approximately 1,524 SqFt. Madison 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 Madison County is roughly 9,328 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Madison County is 9. 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 Madison County, MT
* cities most likely to have USDA loan eligible properties for sale.
*Alder • Beacon Point • Beals • Brandon • Cameron • Cliff Lake • Cowboys Heaven • *Ennis • *Harrison • Harrison Mill • Jeffers • Jefferson Island • Laurin • Leiterville • Mammoth • McAllister • Norris • *Pony • Red Bluff • Rochester • Ruby • Shaws • *Sheridan • Silver Star • Sterling • Summit Valley • *Twin Bridges • Varney • *Virginia City • Waterloo • Watkins
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 Madison County.
Madison County is located in the southwestern region of the great state of Montana. Established on December 27, 1864, Madison County holds the distinction of being one of the state's original nine counties. This county covers an area of approximately 3,603 square miles and is surrounded by the beautiful landscapes of Yellowstone National Park, Jefferson County, and Gallatin and Beaverhead National Forests.
The history of the region goes back to its Native American inhabitants, particularly the Shoshone, Bannock, Blackfoot, and Flathead tribes. The famous Lewis and Clark Expedition passed through the area in 1805, leading to further European-American exploration and eventual settlement.
The discovery of gold in 1862 led to the creation of Montana's first gold strike community, Bannack, followed by Virginia City in 1863. Virginia City served as the territorial capital of Montana from 1865 to 1875, before moving to Helena. The gold rush period opened the floodgates to a wealth of miners, settlers, and entrepreneurs seeking prosperity in the region.
One notable figure from Madison County's past is Sheriff Henry Plummer, a controversial figure who was accused of being a criminal gang leader in the 1860s. He was executed by vigilantes in 1864, and his story has become part of the folklore of the American West.
Agriculture, ranching, and tourism eventually replaced the declining mining industry, with the county enjoying a steady growth in population over the years.
A fun fact about Madison County is that it features a 50-mile stretch known as the Madison River Valley, which is considered one of the top fly-fishing locations in the world, attracting numerous anglers and enthusiasts each year.