USDA Rural Housing Loans for Buyers in Suburban Lakewood Ranch, FL?
Yes it’s true, the once very rural Lakewood Ranch, like many suburban areas, still has USDA Rural Housing loan alternatives to traditional financing.
Even though local mortgage bankers often tout USDA loans like honey flowing from a tree, most buyers make a beeline straight to more traditional loans. Unfortunately for those that by-pass the local lenders, they miss out on these lending options, tax credits and other mortgage assistance programs. In fact even though the options are often right at our finger tips, many professionals tend to pass by them too.
Thirteen Alternatives: I was fortunate enough to get a reminder as I was going through the Multiple Listing Service links looking for useful data for my latest Lakewood Ranch listing. I found that there are actually 13 alternative options for financing, tax credits and loan assistance for my listing in Lakewood Ranch via the “Down Payment Resource” link:
Down Payment Resource states on their website, “Down Payment Resource makes home ownership a reality by connecting eligible homebuyers and eligible properties with government funded buyer assistance programs. Hundreds of millions of dollars are available through programs including Down Payment Assistance, Affordable Fixed-Rate Mortgages and Rehab loans.”
The assistance is not limited to just USDA, there are other government programs including state and county programs as well.
According to the Down Payment Resource website, "Down Payment Resource SM, is a web-based service that provides REALTORS lenders and home ownership counselors an easy, cost effective way to connect home buyers with government funded assistance programs including down payment assistance, affordable fixed-rate mortgages, rehab loans and more. Down Payment Resource takes the mystery and confusion out of finding assistance programs by identifying and aggregating relevant programs for which home buyers may be eligible.”
It’s amazing how many options are still available and often overlooked where suburban neighborhoods cross over formerly rural roads. All too often a buyer just needs to get the right guidance from a qualified local mortgage banker or real estate professional AND take the time for some due diligence in getting a loan. In doing so, a buyer might save much more in the long run by not signing up for the first loan product that crosses their path. As it is in the case of my listing, there are indeed greener pastures for buyers along those old rural ranch roads.
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