The most up-to-date USDA Pilot Refinance mortgage package is now available to tens of thousands of rural property owners in Ormond Beach and all over The State of Florida. The new USDA Rural Development Pilot Refinance mortgage enables Florida’s rural home owners to refinance their home owner loan into a cheaper interest rate no matter what the mortgage loan to property value ratio. In addition upside down and underwater loans also qualify with this new program.
There won’t be any up front fees for the owner of the home as closing costs are now part of the latest USDA mortgage. In order to qualify for the USDA rural refinance program, Ormond Beach, FL home owners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Be aware you must already have a USDA rural housing mortgage to be permitted to this program. If you have a traditional mortgage or FHA loan there are different choices offered.
The most up-to-date USDA Pilot Refinance mortgage loan program will prevent the red tape normally observed with traditional bank mortgage refinancing and possibly save credit seekers several hundred dollars per month. To become qualified to apply, individuals with mortgages are required to have made their home loan payments in a timely manner for 12 straight months. Right now there are over 35,000 home owners entitled in Florida alone – numerous property owners in the municipalities of Gainesville, Tampa, Jacksonville, Orlando, Lakeland and Ocala are able to apply!
Prerequisites of the new USDA Rural Home Refinance Pilot program include:
Ormond Beach, FL USDA Rural Home Refinance
The biggest purpose of the USDA refi application is to support Florida’s outlying residences which have done anything and everything right, but might have lost huge equity in the home caused by recent real estate market declines. A number of Florida home buyers made their mortgage repayments on time but could not take advantage of the historic low interest rates because of deprecation in property values and equity regulations integrated by many lenders and money institutions. This valuable new USDA Pilot Refinance mortgage loan package was created to help support home buyers, in spite of existing LTV or negative home equity.
Questions concerning the Florida streamline USDA refinance loan? Just fill out the short information form (upper right side on this page) or just call us 7 days a week/ 9am-8pm at 800-743-7556. Keep in mind at present we exclusively serve individuals with residences located in The State of Florida.