The new USDA Pilot Refinance home owner loan program is now available to a good number of rural property owners in Bradenton and all over The State of Florida. The new USDA Rural Development Pilot Refinance mortgage will allow Florida’s rural homeowners to refinance their mortgage loan into a lower rate of interest regardless of the mortgage loan to home and property value ratio. Even upside down and under water loans also qualify with this new program.
There won’t be out of pocket costs to the homeowner as closing costs can be a part of the latest USDA mortgage. In order to qualify for the USDA rural refinance program, Bradenton, FL property owners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Keep in mind you have to presently have a USDA rural housing mortgage to be qualified to this loan program. If you’ve already had a previous common loan or FHA loan there are different alternatives that are available.
The most recent USDA Pilot Refinance mortgage process will help to curb the bureaucracy commonly found with conventional bank loan refinancing and possibly save individuals with mortgages several hundred dollars every month. In order to become qualified to apply, credit seekers are required to have made their payments on schedule for 12 continuous months. Currently there are over 35,000 borrowers qualified in The State of Florida alone – many home buyers within the cities of Jacksonville, Tampa, Gainesville, Ocala, Lakeland and Orlando are qualified to apply!
Specifications of the newest USDA Rural Refinance Pilot process include:
Bradenton USDA Rural Home Refinance Loan
The essential reason for the USDA refinance program is to support Florida’s outlying homes which have done everything right, but sometimes have lost huge equity in the home because of the recent economy changes. A great deal of Florida property owners are making their mortgage payments in a timely manner but can’t take benefit from the historic low interest rates as a consequence of deprecation in property values and home equity regulations set up by many lenders and finance companies. This important new USDA Pilot Home refinance loan package was created to help out home buyers, no matter what the latest LTV or negative home equity.
Questions concerning the Florida streamline USDA re-finance loan? Simply fill out the quick info request form (top right side on this page) or just phone us 7 days a week/ 9am-8pm at 800-743-7556. Take note currently we exclusively serve people with real estate properties located in The State of Florida.