The most up-to-date USDA Pilot Refinance home loan package is now available to several thousand rural house owners in Milton and throughout The State of Florida. The new USDA Rural Development Pilot Refinance mortgage will allow Florida’s rural home owners to refinance their home owner loan to a reduced monthly interest rate regardless of home loan to property value ratio. In addition upside-down and under water loans also qualify with this new program.
There are no up front charges for the homeowner as closing costs can now be a part of the new USDA Pilot Refinance. In order to qualify for the USDA rural refinance program, Milton, FL home owners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. You should be aware you have to already have a USDA rural housing mortgage to be qualified to apply for this program. If now have a traditional mortgage or FHA loan there are different choices you can get.
The newest USDA Pilot Refinance mortgage process will prevent some of the red tape normally experienced with traditional bank mortgage refinancing and possibly save individuals with mortgages several hundred dollars per month. In order to become qualified to apply, individuals with mortgages are required to have made their payments promptly for 12 continuous months. There are over 35,000 customers entitled in The State of Florida alone – numerous home owners around the cities of Ocala, Lakeland, Orlando, Jacksonville, Tampa and Gainesville are eligible!
Prerequisites of the new USDA Rural Home Refinance Pilot process include:
USDA Rural Loan Refinancing in Milton
The predominant purpose of the USDA refinance process is to help out Florida’s outlying residences which have done all the things right, but often have lost sizeable equity in their home on account of the recent market corrections. A great number of Florida home buyers make their home loan repayments punctually but can’t reap the benefits of the historically low interest rates simply because of deprecation in home values and equity regulations implemented by most lenders and consumer banking institutions. The new USDA Pilot Loan refinancing program is created to support house owners, regardlesss of the latest LTV or negative home equity.
Do you need more info on the Florida streamline USDA re-finance mortgage? Simply submit the short information form (upper right section of this web page) or phone us 7 days a week/ 9am-8pm at 800-743-7556. Take note we currently solely serve home buyers with property located within Florida.