The USDA Rural Housing mortgage loan that is insured by the US Department of Agriculture and available to qualified FL homebuyers who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA. Great for First-time Home Buyers because the program is one of the very few that still permit 100% financing (including Closing Costs) No prepayment penalties and Low fixed interest rates.
USDA Loan Benefits Florida:
- 100% Financing – you can buy a home with no money down. In some cases you can even finance your closing costs.
- You can refinance your home up to 100% of the value of your home.
- Low Fixed Rate Mortgage Options. They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
- They can be used for Existing Homes, Foreclosures or New Construction.
- Simple Loan Process.
- No Loan Limit.
- There is No Prepayment Penalty.
Who is eligible for a USDA Loan? Generally these loans are available to anyone who meets minimum credit guidelines and local area income requirements and is purchasing a home or refinancing their home in an area that is not considered a major metropolitan area by USDA. Read all the USDA FAQ’s about eligibility here.
Some common misconceptions of USDA Loans:
- They are just for farmers – USDA Loans are not “just for farmers,” millions of Florida home buyers from all walks of life qualify. The truth is the USDA loan program is actually better suited for home buyers looking to purchase a home in regular neighborhoods.
- FHA or Conventional Loans are better – USDA Loans often offer better terms than an FHA or conventional loans. Read here about more USDA loan pro’s and con’s
- They aren’t flexible – Actually, USDA Home Loans can be used to buy a new home or refinance to a lower rate.
- Only certain people can qualify -Anyone who meets the income and credit guidelines can qualify for a USDA Home Loan.
- They are only for rural areas – Actually, USDA Loans are available in many areas that most people would not consider rural. For example, many small communities just outside of metropolitan areas qualify as rural areas according to the US Department of Agriculture.
- They are harder to get than FHA or Conventional Loans – This just isn’t true. In many cases USDA Loans are actually easier to get because the loans are guaranteed by the government.
Questions? Please submit the quick request form on the right side, or just call 800-743-7556 7 days a week.
Assisting home buyers in Florida including – Baker County, Glen St. Mary, Macclenny, Sanderson , Columbia County, Fort White, Lake City
Lake City,Columbia USDA Rural 100 Loan