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100% FINANCING FOR HOME BUYERS IN FLORIDA - USDA LOAN

By Leo Namiot - LeoLends.com

Mortgage and Lending with Canopy Mortgage - Leo Namiot 89769

February 05, 2019 06:41 AM

USDA Loan 100% no down payment mortgage in Florida

No Down Payment - No Money Down Home Loan

A USDA Home Loan allows you to finance 100% of the home's value.

USDA loans are insured by the United States Department of Agriculture.

The USDA Rural Development Guaranteed Housing Loan is intended to serve low to middle income families purchasing homes outside of metropolitan cities.

The average household income limits for a USDA home loan in Florida range from 74,750- 102,800 depending on what county you live in. The household income limits also vary according to how many occupants in the home. Use the link below to search the USDA home loan income limits per counties for the state of Florida.

The map below shows the USDA loan eligible areas for the entire state of Florida. As you can see the majority of the state qualifies for USDA financing. Go to the USDA property eligibility screen for more specific information.

USDA home loan income limits per counties for the state of Florida: USDA Home Loan Income Limits Florida

NO down payment – Finance 100% of the appraised value of the home
NO maximum USDA loan amount in Florida.
Flexible credit guidelines
Competitive, fixed interest rates so payments do not increase
USDA Loans are for new and existing properties
Buyers can receive sellers concessions for closing costs, or roll into their loan with supporting appraisal
Low 30 year fixed interest rates
Zero penalties for paying off the loan early
NO restrictions on how long you must live in the home

Some common misconceptions of USDA Loans:

They are just for farmers - USDA Loans are not "just for farmers," millions of people from all walks of life already qualify.
FHA or Conventional Loans are better - USDA Loans often offer better terms than an FHA or conventional loans.
They aren't flexible - Actually, USDA Home Loans can be used to buy a new home or refinance to a lower rate.
Only certain people can qualify - Anyone who meets the income and credit guidelines can qualify for a USDA Home Loan.
They are only for rural areas - Actually, USDA Loans are available in many areas that most people would not consider rural. For example, many small communities just outside of metropolitan areas qualify as rural areas according to the US Department of Agriculture.
They are harder to get than FHA or Conventional Loans - This just isn't true. In many cases USDA Loans are actually easier to get because the loans are guaranteed by the government.

USDA Loan Qualifying:

To be approved for financing, here are some of the minimum guidelines required for to qualify for a USDA Loan:

620 or greater credit score with no serious financial hardships in the previous 4 years.
Proper utilization of credit/debt to income. Buyers total monthly debt requirements with new mortgage expenses should not exceed 30% of their monthly gross income.
Income and assets that can be documented via tax returns, bank statements, etc.
Good two-year job history without any unexplained breaks in employment. Explainable long term gaps due to maternity, illness, etc., can be approved when documented.

Contact me today to get more information on USDA LOANS IN FLORDA or to Apply For a USDA Loan 904-712-1500 www.CheckHomeLoans.com www.GoCheckRates.com