Located in a more rural area of Florida? If so, maybe the 100% USDA home loan can benefit you.
Some background – The USDA Rural Development Home Loan is the last remaining no down payment government insured mortgage program for Florida civilians. The USDA mortgage program is designed to help promote homeownership less populated locations around Florida. Many people assume the USDA loan program is only for farmers or ranchers, not true. Many major metropolitan areas have outlining areas that are qualified USDA eligible property locations. Even locations around major Florida cities like Jacksonville, Orlando, Tampa, Gainesville, Ocala, Tallahassee, Pensacola have USDA eligible locations around them. Interested homebuyers can click here to view USDA eligible zones in their location.
The USDA loan program will allow homebuyers to borrow up to 102% of the home’s appraised value. In addition, homebuyers can include closing costs into their loan assuming their appraised value is sufficient. Please click here to learn more.
Some benefits of a USDA Home Loan include:
- 102% Financing, No Down Payment required!
- Low monthly mortgage Insurance (PMI) Just a one-time USDA funding fee that is included into your loan.
- No Loan Amount limits.
- No Cash Reserve Requirements
- 6% Seller Contribution Limitations
- 100% Gifted Closing Costs allowed
- 30 year low fixed rate loan
- No Prepayment Penalty
- Primary Residents only (no rentals/investments or second homes permitted)
- 640 min credit score required for USDA home loans.
To qualify for the USDA loan program, there are two main requirements that differ from the other government loan programs (FHA or VA loan program)
Property Location- The home must be located in a Florida USDA eligible designated rural area. Please click here. Remember, the seller of the property is not important, just where the property is physically located.
Household income- Each county has different USDA Income restrictions. The income limit is based on many different variables, please click here to learn more.
Please stop by our main web site at www.UsdaMortgageSource.com to view general USDA program requirements. Proudly serving all of Florida 7 days a week. Buyers in other states can learn about National USDA Mortgages here.
Florida 100% USDA, 2016
Serving all of Florida including –
Apopka FL | Archer FL| Aventura FL| Boca Raton FL | Bradenton FL| Brandon FL| Cape Coral FL| Clearwater FL| Clermont FL |Cocoa Beach FL | Coconut Creek FL | Coral Gables FL| Crestview FL| Crystal River FL| Daytona Beach FL| DeLand FL | Deltona FL| Delray Beach FL | Destin FL| Dunedin FL | Englewood FL| Fernandina Beach FL| Flagler Beach FL| Fort Lauderdale FL | Fort Myers FL | Fort Pierce FL | Fort Walton Beach FL| Gainesville FL| Green Cove Springs FL| Hallandale FL| High Springs FL|Hobe Sound FL| Hollywood FL| Homestead FL| Inverness FL | Jacksonville FL| Jasper FL |Jupiter FL| Key Largo FL| Key West FL|Keystone Heights FL|Lady Lake FL| Lakeland FL| Lake City FL| Lake Mary FL| Land O Lakes FL|Live Oak FL| MacClenny FL|Madison FL| Melbourne FL| Miami Dade FL | Milton FL| Mount Dora FL | Naples FL| Ocala FL | Ocoee FL |Ojus FL | Orange Park FL| Orlando FL| Ormond Beach FL| Palatka FL| Palm Bay FL| Palm Coast FL | Panama City Beach FL| Pensacola FL| Pompano Beach FL| Port Charlotte FL| Port St. Lucie FL | Punta Gorda FL| Santa Rosa FL| Sarasota FL | Siesta Key FL| Spring Hill FL | St. Augustine FL| Starke FL|St. Petersburg FL | Sunny Isles FL| Tallahassee FL| Tamarac FL| Tampa FL| Titusville FL | Venice FL| Vero Beach FL| Weeki Wachee FL| Wesley Chapel FL| West Palm Beach FL | Winter Garden FL| Winter Haven FL| Winter Park FL| Winter Springs FL| White Springs FL| Zephyrhills FL| Florida |FLA
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