100% Financing through the USDA Home Loan Program
Welcome to the Florida USDA Homes website, your comprehensive resource for information on the USDA loan program. Setting itself apart, USDA home loans stand as one of the few loan options nationwide that alleviates homeowners from the burden of a down payment. This distinctive loan offering is a no Down Payment Home Loan catering to both first-time home buyers and current homeowners, facilitated by a USDA-approved lender. The USDA Rural Development Home Loan program has played a pivotal role in helping thousands of families turn their dream of homeownership into reality.
Key Features:
No Money Down
Reduced Waiting Periods After Short Sales and Bankruptcies
No Mandatory Classes
Lower Monthly Payments
30 Year Fixed Rates
Ability to Roll Closing Costs into Loan
USDA loans, supported by the United States Department of Agriculture, empower you to purchase a home in specific locations without the requirement of an initial payment. The USDA program was designed to foster the growth of our communities by enhancing home affordability through no down payment and reasonable credit requirements. It's crucial to dispel any misconception about the term "Rural," as many suburbs surrounding or bordering populated cities are also eligible.
This loan option stands out as one of the limited choices that allow you to acquire a home without putting money down. It presents an excellent opportunity, particularly for first-time home buyers or individuals with limited savings. The program's flexible credit requirements ensure that past credit challenges don't hinder your homeownership aspirations. If you're interested in qualification or seeking additional information, please fill out the Information Request form, and one of our USDA specialists will contact you promptly!
Exciting news for potential borrowers navigating the current rise in home prices! USDA has raised the income criteria for eligibility in Florida. Typically, households with 1-4 members can now have a maximum gross income of $110,650 annually, and certain counties may have even higher limits. For households with 5 or more members, the allowable income may surpass $146,050 in specific counties.
Additional Information on different home loan options
USDA
The USDA Loan is a true No down payment loan. It has flexibility with credit, and allows for qualified borrowes to purchase a home instead of always renting.
VA Loan
The VA Loan is only for eligible Veteran. It offers the most flexible guidelines, and also a No down payment loan.
FHA
Flexible guidelines and more forgiving on credit then conventional. It requies a 3.5% Down payment with a lower interest rate and usually, no reserves required for up to a 1 or 2 unit properties.
Conventional
Low Rates for borrowers with good credit, and 20% down payment. No limits on income, area or occupancy type.
refinance
Refinancing is taking a new loan to replace your existing. Cash out, or getting lower payment or a lower rates are all a good reason to consider a refinance.
“When I contacted you I certainly didn’t expect to be closing on my home 45 days later, but thank you for making this possible for me and my family. I wish I would have known this help was out there sooner.”