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rural development: Proposed 2009 Rural (USDA) Development Income Limits - Hillsborough & Pasco - 11/07/08 05:28 AM
I was reading through a stack of bulletins I've received this week on product updates and this one stood out the most. Effective January 20, 2009 USDA is changing how they calculate household income. Currently they use eight different categories, but come January 20th they're going to two. It's not finalized yet, but as long as anyone doesn't object by January 5th it's a done deal.
Below is the new income limits for Hillsborough & Pasco counties in Florida.
1-4 person: $70,750
5-8 person: $93,400
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rural development: Rural (USDA) Development Loans - Pasco County - 11/04/08 12:27 PM
The income limits for Pasco counties is...
1-Person: $49,550
2-Person: $56,600
3-Person: $63,700
4-Person: $70,750
5-Person: $76,400
In some instances your total income can be much higher than the adjusted income. If total income exceeds the limits, certain adjustments can be made, such as childcare expenses or children 12 or younger.
Example: Pasco County 4-person family (2 adults, 2 children) has a gross income of $80,410. Child care for the two children 12 or less is $10,000 annually. They would qualify because $80,410 less 10,000 child care less $480 for each child = $69,450
Call (813) 507-0296 to find out if … (0 comments)
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rural development: Florida Rural (USDA) Development Loan Eligible Areas - 10/31/08 09:57 AM
Only those counties with ineligible areas are listed below. All other counties are completely eligible.
Alachua, Bay, Brevard, Broward, Charlotte, Clay, Duval, Escambia, Hillsborough, Indian River, Lee, Leon, Manatee, Marion, Miami-Dade, Monroe, Okaloosa, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, St. Johns, St. Lucie, Santa Rosa, Sarasota, Seminole, Volusia
If a county is listed above it doesn't necessarily mean its ineligible, but certain parts are.
Please call (813) 507-0296 to find out if the house you're interested in buying qualifies for a Rural (USDA) Development loan.
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rural development: Rural Development (USDA) Guarantee Fee - 10/30/08 01:54 PM
There is a non-refundable insurance guarantee fee for purchase transactions and improvements for existing dwellings. The guarantee fee is equal to 2.00% of the loan amount. For rate/term refinance transactions, the guarantee fee is .50% The guarantee fee may be financed in with the loan amount. In instances when the guarantee fee is financed in with the loan amount, the maximum LTV may exceed the appraised value of the property to include the amount of the guarantee fee up to 102%. For rate/term refinance transactions, the guarantee fee may be financed in with the loan amount, however an LTV of 100.5% … (2 comments)
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rural development: Rural Development - USDA Loans - 100% Financing - Tampa - 10/03/08 11:45 AM
A great alternative to an FHA loan is the RURAL DEVELOPMENT, USDA loan. The home to be purchased must be located in an eligible rural area as defined by USDA.
To determine if a property is located in an eligible rural area visit http://eligibility.sc.egov.usda.gov
THE ADVANTAGES OF THE USDA LOAN:
Loan up to 102% of appraised value NO MI No maximum loan amount No cash contribution required from the borrower Unrestricted gifts, no need to document source Non-traditional credit may be substitute for lack of traditional credit history No credit explanations when credit score is 620 or above No minimum credit … (0 comments)
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rural development: USDA - Rural Development - Florida - 09/15/08 12:15 PM
A great alternative to an FHA loan is the RURAL DEVELOPMENT, USDA loan. The home to be purchased must be located in an eligible rural area as defined by USDA.
To determine if a property is located in an eligible rural area visit http://eligibility.sc.egov.usda.gov
THE ADVANTAGES OF THE USDA LOAN:
Loan up to 102% of appraised value NO MI No maximum loan amount No cash contribution required from the borrower Unrestricted gifts, no need to document source Non-traditional credit may be substitute for lack of traditional credit history No credit explanations when credit score is 620 or above No minimum credit … (4 comments)
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Todd Martin - Florida's - Doctor Loan
Tampa,
FL
More about me…
Address: 11353 Countryway Blvd, Tampa, FL, 33626
Cell Phone: (813) 507-0296
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