Many people are aware that the United States Census updated their population data this past year. As a result the population increase, USDA/Rural Development will be publishing changes to the eligible home location map sometime around September 2011. As the population continues to grow in Florida, the eligible USDA “Rural” locations continue to get smaller.
So, what does this mean for you as a prospective home buyer using the USDA mortgage? It means the area(s) you are looking in now for your new home may not be eligible for the 100% USDA loan once the new mapping locations come out around September. Many current/popular eligible areas in Hillsborough County, Polk County, Pasco County, Clay County, Collier County, Hernando County, Lake County, Lee County , Marion County and Orange county will defiantly be impacted. Please note, we do not know exactly what locations will be eliminated. Again, this information will not be available until around September.
The great news is 34 counties in Florida remain TOTALLY ELIGIBLE for the 100% USDA home loan! 9 other counties having some ineligible areas that will remain unchanged from current. Broward, Pinellas, Monroe and soon to be Dade are the only counties in Florida that are totally USDA / Rural Development ineligible.
6/29/2011 – Important update to this post – please click here
Serving all of Florida including LeHigh Acres, Havana, Land O Lakes , Lutz, Naples and everywhere in between. USDA Mortgage Source is Florida’s LOCAL leader for all 100% USDA / RD home loans. – please visit our main web site at www.UsdaMortgageSource.com or call 800-743-7556 to learn more about the benefits of 100% USDA / Rural Development home loans here in Florida. We are available to serve you seven days a week.
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