If you are a homebuyer considering a USDA home loan, the first thing to check is your USDA loan eligibility requirements. Below is a basic list of items that will determine if you are eligible for USDA financing.
USDA eligible locations – The home must be located in a USDA eligible zone. The great news is that many counties in Florida are currently 100% USDA eligible! Home being purchased must be a single family home, condo or townhome. Existing mobile homes are not permitted.
USDA income limit – USDA does have household income limitations. These limits are based on the county and number of members in the household among other things. Keep in mind, the USDA household income limits do apply to anyone living in the home that receives income, even if they are not listed on the loan application. In addition any party on the loan application must be able to properly documents income (tax returns, etc).
USDA loan credit requirements – generally speaking your credit score must be a min of 640. Some lower scores (down to a 620) can be done on a case by case basis. There are additional separate requirements regarding any past bankruptcy, short sale, foreclosure, etc.
Questions about USDA / RD home loans? For a quick response just submit the short request form on right side of your screen, or call us at 800-743-7556. You can also visit our blog by clicking here for the latest USDA home loan information
Serving all of Florida, including Okeechobee county, Highlands county, Glades County. USDA Mortgage Source is Florida’s leading resource for all No money down USDA /Rural Development home loans. www.UsdaMortgageSource.com
USDA home loans: Aventura | Boca Raton | Bradenton | Brandon | Cape Coral | Clearwater | Cocoa Beach | Coconut Creek | Coral Gables | Crystal River | Daytona Beach | DeLand | Deltona | Delray Beach | Destin | Dunedin | Englewood | Fort Lauderdale | Fort Myers | Fort Walton Beach | Gainesville | Hallandale | Hobe Sound | Hollywood | Inverness | Jacksonville | Lakeland | Lake City| Live Oak | Melbourne | Miami | Mount Dora| Naples | Ocala | Ojus | Orlando | Ormond Beach | Palatka| Palm Bay | Panama City | Pensacola | Pompano Beach | Port Charlotte | Port St. Lucie | Punta Gorda | Santa Rosa | Sarasota | Siesta Key | Springhill | St. Augustine | St. Petersburg | Sunny Isles | Tallahassee | Tamarac | Tampa | Titusville | Venice | Vero Beach | Wesley Chapel | West Palm Beach | Winter Haven | Winter Park,Fl,Fla
Questions? just submit the short Info Request Form on the right side of this page for fast service. Mobile users can find the Info Request Form here. You can also contact us at 7 days a week at ph: 800-743-7556