The new USDA Pilot Refinance mortgage loan process is now available to a good number of rural home owners in Winter Haven and throughout Florida. The new USDA Rural Development Pilot Refinance mortgage will permit Florida’s rural home owners to refinance their home finance loan to a smaller interest rate no matter the mortgage loan to home value ratio. Even upside-down and underwater loans also qualify with this new program.
There won’t be any out of pocket charges for the homeowner as closing costs are now included in the new USDA Pilot home loan program. In order to qualify for the USDA rural refinance program, Winter Haven, FL home owners must currently have either a direct USDA loan or a USDA 502 guarantee mortgage. Remember you are required to currently have a USDA rural housing mortgage to be qualified to the program. If you have a common home loan or FHA loan there are different choices out there.
The new USDA Pilot Refinance mortgage process will prevent the red tape normally observed with conventional bank mortgage refinancing and potentially save borrowers several hundred dollars monthly. In order to become qualified, home owners are required to have made their mortgage payments promptly for 12 consecutive months. There are over 20,000 home owners able to apply in The State of Florida alone – a great number of home buyers around the areas including Gainesville, Ocala, Lakeland, Orlando, Jacksonville and Tampa are qualified!
Prerequisites for the new USDA Rural Home Refinance Pilot program include:
Winter Haven, FL USDA Rural Loan Refinancing
The biggest objective of the USDA refinance application is to boost Florida’s rural homes that have done anything and everything correctly, but could have lost sizeable equity in their home as a result of the recent real estate market changes. Most Florida home owners made their mortgage repayments on time but could not take advantage of the historically low interests on account of deprecation in residential home values and equity limitations put in place by most lenders and banks. This kind of new USDA Pilot Home refinance package is designed to help out house owners, no matter what the the latest LTV or negative loan equity.
Questions about the Florida streamline USDA refinance loan? Just complete the fast info form (top right part on this web page) or even call us 7 days a week/ 9am-8pm at 800-743-7556. Please be aware at present we solely help individuals with property located within Florida.