The new USDA Pilot Refinance property finance loan program is now available to several thousand rural house owners in Weeki Wachee and all over Florida. The new USDA Rural Development Pilot Refinance mortgage enables Florida’s rural home owners to refinance their home owner loan to a cheaper interest rate whatever the mortgage loan to property value ratio. Even upside down and underwater loans also qualify with this new program.
There aren’t any out of pocket costs to the home owner as closing costs can be a part of the all new USDA Pilot Refinance home loan. In order to qualify for the USDA rural refinance program, Weeki Wachee, FL homeowners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Please note you have to currently have a USDA rural housing mortgage to be permitted to this loan program. If you’ve got a conventional loan or FHA loan there are different choices out there.
The new USDA Pilot Refinance mortgage process will prevent some of the bureaucracy commonly experienced with traditional bank refinancing and potentially save borrowers several hundred dollars each month. To become qualified, credit seekers are required to have made their home loan payments on schedule for 12 straight months. Currently there are over 35,000 customers entitled in Florida exclusively – many homeowners in the metropolitan areas of Tampa, Gainesville, Ocala, Lakeland, Orlando and Jacksonville are qualified!
Specifications of the new USDA Rural Refinance Pilot application include:
USDA Rural Home Refinance in Weeki Wachee
The essential aim of the USDA refi program is to support Florida’s rural residences that have done all things properly, but may have lost significant equity in the home due to recent marketplace fluctuations. Many Florida home buyers made their mortgage repayments on-time but cannot take full advantage of the historic low interest rates due to deprecation in home values and home equity rules put in place by most lenders and loan companies. This valuable new USDA Pilot Refinance loan program was organized to assist home owners, irrespective of current LTV or negative loan equity.
Do you need more info on the Florida streamline USDA refinancing plan mortgage? Just submit the short info request form (upper right side on this page) or even phone us 7 days a week/ 9am-8pm at 800-743-7556. Please note currently we solely support house owners with properties located in Florida.