Saving up money in order to buy a home can be a struggle sometimes. Especially for those just starting out or recently employed in the public sector such as police, firefighters and teachers. In Florida however, there are programs designed for those like teachers that not only allow little or NO down payment, but have great terms as well.
These $0 down and low down payment loans offer a great way for Florida teachers purchase a home without a huge amount of savings. Florida teachers may apply for an FHA loan with a down payment as low as 3.5 percent and even lower if the home is located in a revitalization area. These down payment requirements may be as little as $100 for one of these homes and can qualify to have certain closing costs waived at the closing table. The USDA Rural Development loan is 100% financing for any home located in a qualified USDA eligible zone. Read more about USDA financing here.
Again, these government backed mortgage programs addresses the needs to Florida teachers and public service workers who are experiencing some difficulties in saving up for a down payment and closing costs. Many conventional loans now require a min a 10% down payment, which is out of reach for many.
In addition, these programs are not limited to public schools only. Teachers at private Florida schools can also qualify as long as they are full time employees. If you’re a Florida teacher and you want some assistance in buying your next home, you may need look no further than the mortgage program for Florida teachers.
Helping all Florida public service workers achieve the goal of homeownership – www.UsdaMortgageSource.com or call 800-743-7556 7 days a week.
Proudly serving Alachua and Marion County – Belleview, Citra, Dunnellon, Eastlake Weir, Eureka, Fort McCoy, McIntosh, Ocala, Ocklawaha, Orange Springs, Pedro, Reddick, Romeo, Salt Springs, Summerfield, Weirsdale, Alachua, Archer, Gainesville, Hawthorne, High Springs, La Crosse, Micanopy, Newberry, Waldo FL