The new USDA Pilot Refinance home loan program is now available to several thousand rural property owners in Venice and throughout Florida. The new USDA Rural Development Pilot Refinance mortgage enables Florida’s rural homeowners to refinance their property finance loan into a cheaper monthly interest rate whatever the home loan to home and property value ratio. Even upside-down and under water loans also qualify with this new program.
There won’t be any up front fees to the home owner as closing costs are now a part of the new USDA Pilot Refinance. In order to qualify for the USDA rural refinance program, Venice, FL homeowners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Please be aware you need to presently have a USDA rural housing mortgage to be permitted to this program. If you have a traditional loan or FHA loan there are different choices you can get.
The latest USDA Pilot Refinance mortgage process will prevent some of the paperwork traditionally found with traditional bank refinancing and potentially save credit seekers hundreds of dollars monthly. To be qualified, homeowners must have made their mortgage payments on schedule for 12 continuous months. There are over 20-30,000 individuals entitled in Florida exclusively – almost all home owners just outside the metropolitan areas of Gainesville, Ocala, Lakeland, Orlando, Jacksonville and Tampa are qualified!
Specifications for the new USDA Rural Refinancing Pilot application include:
Venice USDA Rural Loan Refinancing
The primary goal of the USDA refi process is to boost Florida’s outlying homes which have done all things right, but might have lost huge equity in their home caused by recent real estate market changes. Many Florida property owners make their mortgage payments on time but cannot take full advantage of the historically low interests on account of deprecation in home values and equity limits implemented by most lenders and consumer banking institutions. This new USDA Pilot Home refinance package was made to aid household owners, regardlesss of the latest LTV or negative loan equity.
Questions regarding the Florida streamline USDA refinance mortgage? Simply complete the quick information request form (upper right part on this web page) or even give us a call 7 days a week/ 9am-8pm at 800-743-7556. Take note we currently primarily help house owners with homes located within Florida.