Martin and St. Lucie home buyers still have an opportunity to purchase a home with NO down payment thanks to the Government backed USDA Rural Housing mortgage. Some locations around Jensen Beach, Stuart, Palm City, Sewalls Point, North River Shores and Hobe Sound are still eligible and approved for the 100% RD home financing in 2020. USDA home loans have many benefits in addition to being 100% financing:
- Not only can a buyer purchase a home with $0 down, the buyers closing costs can be included in the loan or paid by the seller on behalf of the buyer. The benefit is buyers oftentimes end up putting very little money into the transaction. Buyers should be prepaid though to pay a refundable deposit when they go under contract ($500-$1,500) This is customary for most purchase transactions in Fla.
- Easy underwriting and approvals. In most cases, a credit score of 620 will be needed.
- Monthly mortgage insurance (PMI) is half the cost of comparable loans of FHA and Conventional loans. If you are a homebuyer planning to do an FHA mortgage, be sure to take a close look at the USDA loan option simply for the cheaper mortgage insurance costs.
- Safe and secure 30 year fixed terms. No adjustable rates or pre payment penalties to worry about.
- USDA loan pre approvals take only 15 minutes, no big obstacles to jump through. Just contact us below to get started today.
Interested buyers can review all the USDA FAQ’s here.
Ready to apply for a USDA loan? Just submit the short Info Request Form on this page. You can also contact us at 7 days a week at ph: 800-743-7556.
Even if you find you do not meet the USDA eligibility factors in regards to household income/location, please still contact us to discuss other low down payment mortgage options.
USDA Mortgage Source is Florida’s 100% RD loan leader. Proudly serving Martin County, Indiantown, Jensen Beach, Jupiter Island, Ocean Breeze Park, Palm City, Sewall’s Point and Stuart FL. St. Lucie County : Fort Pierce, Hutchinson Island, Port St. Lucie, Martin – St. Lucie County 100% House Loan