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There are 17 USDA backed residential loans in Socorro county with an average loan balance of $112,409. Over 70% of the loans helped first time home buyers. Borrowers were an average age of 43 years old. The typical appraised home value was around $124,400. On average the rural home size purchased with this loan was approximately 1,677 SqFt. Socorro 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 Socorro County is roughly 17,219 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Socorro 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 Socorro County, NM
* cities most likely to have USDA loan eligible properties for sale.
*Abeytas • Adobe Ranch • *Alamillo • *Alamo • Bernardo • Bingham • Bosquecito • Bramlett • Canyon Mill • Carthage • *Chamizal • Claunch • Coane • Contreras • Escondida • Florida • Garcia • Kelly • Kinney Wells • *La Joya • Laborcita • *Las Nutrias • Lava • *Lemitar • *Luis Lopez • *Magdalena • McNierney • Old Carthage • *Polvadera • Red Mill • Riley • Sabinal • *San Acacia • *San Antonio • San Francisco • San Geronimo • San Marcial • *Socorro • Tiffany • Tokay • Tomasino Mill • *Veguita
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 Socorro County.
Socorro County, located in the great state of New Mexico, has a rich history that dates back to the pre-Columbian era. Established in 1852, Socorro County stretches over an area of approximately 6,647 square miles, making it the second-largest county in the state. The county was named after the Spanish mission, Nuestra Senora de Socorro (Our Lady of Perpetual Succor), which was founded in 1626.
Before European settlement, the region was home to several Native American tribes, including the Apache, Navajo, Pueblo, and Piro. Spanish explorer Antonio de Espejo first visited the region in 1581, and the Spanish colonization began in the 1600s. The settlement of Socorro was founded in 1598, by the Spanish governor, Vicente de Zaldivar. The area was highly contested among the Spanish, Native Americans, and later Mexicans.
In 1821, Mexico gained independence from Spain and took control of the region. This changed when the United States annexed New Mexico during the Mexican-American War (1846-1848), and Socorro County was incorporated under American jurisdiction, becoming part of the New Mexico Territory.
Socorro County played a significant role in the development of America's Southwest, with its mining and farming industries being major contributors to the region's growth. Copper and lead mines, as well as livestock ranching and agriculture, became important sources of income for the county's residents.
A fun fact about Socorro County is that it is home to the VLA (Very Large Array), one of the world's premier astronomical radio observatories. Located on the Plains of San Agustin, the VLA consists of 27 massive radio antennas, each weighing 230 tons. These antennas are used to observe celestial objects and phenomena, such as black holes, galaxies, and nebulae, offering invaluable insight into the universe. The VLA has also been featured in several movies and TV shows, including the 1997 film "Contact," starring Jodie Foster.