USDA Loan Guidelines 2014 – Tampa, Riverview, Wesley Chapel, FL

USDA mortgage

Did you know in 2014 USDA rural development loans still allow 100% financing with no down payment?   Most Florida home buyers know it’s hard to get a conventional mortgage type without having to pay a down payment at the minimum of 20 percent.  20% down payment is just out of reach for most home buyers, especially first time buyers.  With USDA home loans, a family is now allowed to purchase a home without paying the unaffordable down payment. Homeowner is still possible even if you have limited savings. The USDA Home Loan does have a few eligibility requirements in regards to household income and location of the home (rural) Please read below for more details.

How Does the USDA Rural Housing Loan Program Benefit the Home Borrower?

  • The usda loan is 100% financing and a secure 30 year fix term. USDA is the last remaining $0 down home loan in Florida. All USDA loans are guaranteed (backed) by the United States Department of Agriculture
  • No loan amount limit.  Home buyers qualify based on their debt to income ratios.  Low fixed interest rates also save the borrower thousands of dollars over the life of their loan.  Your closing costs can also be rolled into your loan by using gift funds or grants.

USDA Loan Eligibility in 2014

  • First and foremost the house to be purchased must be located in a USDA approved location.  Please see the USDA eligible map here.  Many area’s around Tampa qualify for the USDA loan!  Riverview, Ruskin, Wesley Chapel, Land O’ Lakes, Bradenton, Palmetto  and Parrish FL to name a few.
  • Household income must be below the limit, per county.  Click here to read about income limits and USDA.
  • Credit – most USDA lenders will require a minimum 640 credit score. This score does not guarantee loan approval as there are additional requirements in place for any borrower that has a past BK or foreclosure, etc.
  • Work history -  generally a min 2 year work history is required.  Recent college grads are exempt from this rule.

Please read all the most frequently asked USDA questions here.  Many locations in Hillsborough county (just outside of Tampa FL) are currently eligible for 100% USDA loansApollo Beach, Dover, Gibsonton, Lithia, Lutz, Mango, Orient Park, Plant City, Riverview, Ruskin, Seffner, Sun City Center, Tampa, Temple Terrace, Thonotosassa, Valrico. In addition, Pasco County -  Land O’ Lakes, New Port Richey, Odessa, Port Richey, San Antonio, Wesley Chapel and Zephyrhills. Manatee County – Bradenton, Palmetto and Parrish

Questions about the USDA loan application for pre approval process? Please visit for more information or call 904-302-6060. You can also fast track your request by submitting the quick info request form on the right side.

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USDA Loan Payment Calculator with Taxes, Insurance

USDA mortgage

Please be sure to find the USDA mortgage monthly payment calculator on the lower right side of this screen.  This calculator is formulated for Florida USDA home loans and includes the monthly mortgage insurance (annual fee, PMI) costs each month.  In addition the calculator includes the estimated taxes and home owners insurance.  This is a good “real world” snapshot of your expected monthly loan payment.  Please submit the quick information request form on the upper right side if you have questions about payments, qualifying, etc.  You can also call 904-302-6060.

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2014 USDA Rural Income Eligibility Limits

USDA mortgage

Please see the Florida USDA Rural Housing (RD) income eligibility limits for 2014 below -

COUNTIES 1- 4 person household 5 – 8 person household
All Florida counties EXCEPT those listed below: $74,750 $ 98,650
Clay, Duval, Nassau, St Johns $77,400 $102,150
Collier $83,750 $110,550
Manatee and Sarasota $75,200 $99,264
Okaloosa and Wakulla $78,650 $103,818
Palm Beach $87,550 $115,550
NOT ELIGIBLE are Broward, Pinellas and Monroe
Add 8% of 1-4 person limit for each person in excess of 8 persons.

Please note the following:

  • There are deductions for certain things like children, documentable child care expenses, disabilities, elderly, etc. Please add $480 to the income limits for each child living in the house.
  • The USDA 502 Guarantee program income limits above apply to ALL members in the household that generate income, regardless if they are listed on the USDA loan application or not.
  • The USDA RD income limits only applies to household income at the time of closing. Future income or earning potential is not considered.

If you have questions about the 2014 USDA eligibility income limits, please reach out to us at or call 904-302-6060

Homebuyer’s that exceed the income limits can learn more about the FHA loan at

Serving :  FL, FLA Alachua County – Gainesville, Baker County – Macclenny, Bay County – Panama City, Bradford County – Starke, Brevard County – Titusville, Broward County – Fort Lauderdale, Calhoun County – Blountstown, Charlotte County – Punta Gorda, Citrus County – Inverness, Clay County – Green Cove Springs, Collier County – Naples, Columbia County – Lake City, De Soto County – Arcadia, Dixie County – Cross City, Duval County – Jacksonville, Escambia County – Pensacola, Flagler County – Bunnell, Franklin County – Apalachicola, Gadsden County – Quincy, Gilchrist County – Trenton, Glades County – Moore Haven, Gulf County – Port St. Joe, Hamilton County – Jasper, Hardee County – Wauchula, Hendry County – LaBelle, Hernando County – Brooksville, Highlands County – Sebring, Hillsborough County – Tampa, Holmes County – Bonifay, Indian River County – Vero Beach, Jackson County – Marianna, Jefferson County – Monticello, Lafayette County – Mayo, Lake County – Tavares, Lee County – Fort Myers, Leon County – Tallahassee, Levy County – Bronson, Liberty County – Bristol, Madison County – Madison, Manatee County – Bradenton, Marion County – Ocala, Martin County – Stuart, Miami-Dade County – Miami, Monroe County – Key West, Nassau County – Fernandina Beach, Okaloosa County – Crestview, Okeechobee County – Okeechobee, Orange County – Orlando, Osceola County – Kissimmee, Palm Beach County – West Palm Beach, Pasco County – Dade City, Pinellas County – Clearwater, Polk County – Bartow, Putnam County – Palatka, Santa Rosa County – Milton, Sarasota County – Sarasota, Seminole County – Sanford, St. Johns County – St. Augustine, St. Lucie County – Fort Pierce, Sumter County – Bushnell, Suwannee County – Live Oak, Taylor County – Perry, Union County – Lake Butler, Volusia County – DeLand, Wakulla County – Crawfordville, Walton County – De Funiak Springs, Washington County – Chipley

Rural Development Income Limits 2014

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FL Closing Times – USDA Rural Housing

So far in 2014 the turn times for USDA RD have greatly improved in Florida!  As a result the closing process is speeding up. USDA RHS loans are closing in as little as 30 days.  Buyers note, the loan processing times can change, so be sure to check with us for the latest updates.  Call 904-302-6060

Serving all of Polk and Osceola County - Celebration, Champions Gate, Intercession City, Kenansville, Kissimmee, Poinciana, Reunion and St. Cloud, Auburndale, Bartow, Davenport, Dundee, Eagle Lake, Fedhaven, Fort Meade, Frostproof, Haines City, Highland Park, Hillcrest Heights, Indian Lake Estates, Lake Alfred, Lake Hamilton, Lake Wales, Lakeland, Mulberry, Nalcrest, Polk City, Providence and Winter Haven.


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USDA Home Loan -Where to start

Below we have outlined the general 100% USDA Rural Housing mortgage guidelines for 2014. What a great home loan for especially first time home buyers that have limited cash savings!   Please contact us at with any question, or just call 904-302-6060

USDA program credit score  -  640 minimum credit score is preferred, however in select cases down to a 620.  This credit score requirement alone does not guarantee USDA loan approval. Additional requirements include –  No repeated late payments on any credit trade lines within the last year. No short sales, foreclosures or bankruptcies within the last 3 to 5 years.

Job and work history – solid two year history with documentable income. Recent college grads that have just started in the job arena are exempt from this requirement. Applicants are ok if they have switch around jobs, as long as they have no unexplainable extended gaps in their job history.

How long does the USDA mortgage closing and processing time take in Florida?  Please click here for more information.

USDA Rural Development Financing - 100%, NO down payment required!  Home sellers can also pay closing costs for USDA home buyers.

Is USDA only for First Time Home Owners?  No, USDA can be used by any prospective home buyer. However, only primary homes are permitted – no second homes or investment properties allowed.

Eligibility income for USDA housing -  In general, Florida households with 1-4 members = max $74,750 gross income per year. Some counties are much more, like Duval, St. Johns, Clay and some other counties in the panhandle and south. Households with over 5 members can make even more, over $100,000 ++ in certain Florida counties. USDA also allows deductions for child care, elderly, disabilities, etc.  Please click here to learn more about USDA income restrictions  for the 502 Guarantee loan and contact us with any questions.

Eligible USDA Property -  Any single family home that is located in a USDA eligible location. Property being purchased can be a short sale, foreclosure, by owner, etc.  Existing mobile homes are NOT permitted.  Home must be a primary residence, no investment or rental purchases.  Home must be livable, and in good repair.

Max USDA Rural Development loan amount - There is not a max loan amount with Rural Housing USDA. Home buyers qualify based on income limits put in place and max allowed debt to income ratios.

Please read all the USDA program frequently asked questions here.

Have questions about the USDA housing application process in FLA? Please visit us at or call 904-302-6060

Serving all of Manatee, Hillsborough and Sarasota County 7 days a week including  -  Anna Maria, Bradenton, Bradenton Beach, Holmes Beach, Longboat Key, Myakka City, Oneco, Palmetto and Parrish. Apollo Beach, Balm, Bealsville, Bloomingdale, Brandon, Carrollwood Village, Dover, Gibsonton, Lithia, Lutz, Mango, Orient Park, Plant City, Riverview, Ruskin, Seffner, Sun City Center, Tampa, Temple Terrace, Thonotosassa, Valrico, Englewood, Laurel, Nokomis, North Port, Osprey, Sarasota, South Venice, Vamo, Venice and Warm Mineral Springs

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