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There are 28 USDA backed residential loans in Sanborn county with an average loan balance of $77,779. Over 75% of the loans helped first time home buyers. Borrowers were an average age of 34 years old. The typical appraised home value was around $80,683. On average the rural home size purchased with this loan was approximately 1,404 SqFt. Sanborn 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 Sanborn County is roughly 1,480 square kilometers. There are no geographical USDA loan restrictions in this county. The influence score for Sanborn 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 Sanborn County, SD
* cities most likely to have USDA loan eligible properties for sale.
*Artesian • Cuthbert • Farwell • *Forestburg • *Letcher • Ruskin Park • *Woonsocket
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 Sanborn County.
Sanborn County is located in the great state of South Dakota, USA. Established on April 8, 1883, the county was originally called "Munson County." However, the name was changed just a few months later on June 27, 1883, in honor of George W. Sanborn, a former railroad superintendent. The county seat, Woonsocket, was officially designated in 1884.
Sanborn County is part of the Mitchell Micropolitan Statistical Area, covering an area of about 571 square miles. The region initially experienced growth due to the construction of the Chicago, Milwaukee and St. Paul Railroad, which passed through Woonsocket. The fertile land and access to transportation led to an increase in agricultural activity, which remains an important aspect of Sanborn County's economy.
Fun Fact: Sanborn County is home to Twin Lakes, which is a unique attraction in the region. The two lakes, known as East Twin Lake and West Twin Lake, are connected by a narrow channel and are considered a popular spot for fishing, camping, and other recreational activities.