The newest USDA Pilot Refinance property finance loan package is now available to a good number of rural home-owners in Clearwater and all over Florida. The new USDA Rural Development Pilot Refinance mortgage will enable Florida’s rural home owners to refinance their mortgage into a much lower monthly interest rate regardless of the mortgage loan to property value ratio. Even upside-down and under water loans also qualify with this new program.
There won’t be out of pocket charges to the homeowner as closing costs can be part of the all new USDA mortgage. In order to qualify for the USDA rural refinance program, Florida home owners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Please be aware you are required to already have a USDA rural housing mortgage to be eligible for this loan program. If you’ve got a common mortgage or FHA loan there are different choices readily available.
The latest USDA Pilot Refinance mortgage loan program will prevent the paperwork normally seen with traditional bank refinancing and often times save individuals with mortgages hundreds of dollars a month. To become qualified to apply, individuals with mortgages are required to have made their mortgage payments on schedule for 12 straight months. Right now more than 30,000 borrowers entitled in The State of Florida alone – numerous home buyers in the municipalities of Lakeland, Orlando, Jacksonville, Tampa, Gainesville and Ocala are qualified!
Qualifications of the new USDA Rural Home Refinance Pilot process include:
Clearwater USDA Rural Home Refinance
The foremost purpose of the USDA refinance program is to support Florida’s rural households who have done all of it correctly, but perhaps have lost major equity in their home attributable to the recent home market fluctuations. A large amount of Florida household owners make their mortgage repayments on time but could not take benefit from the historically low interest rates because of deprecation in property values and home equity rules implemented by many lenders and financial institutions. This unique new USDA Pilot Loan refinancing package is made to help home owners, no matter the current loan to value or negative equity.
Do you need more info on the Florida streamline USDA refinance loan? Simply submit the quick info request form (top right area on this page) or call us 7 days a week/ 9am-8pm at 800-743-7556. Please note at present we primarily aid home buyers with real estate properties located within The State of Florida.